Press Release

COUNTRY Financial Selects MajescoMastek’s STG Billing to Replace Legacy System and Streamline Billing Processes

STG Billing combined with Insurance Content Manager offer COUNTRY Financial functionality, flexibility, technology, and self-sufficiency

New York, NY, February 21, 2012— MajescoMastek, the U.S. subsidiary of global technology solutions provider Mastek Limited (NSE: MASTEK), today announced that COUNTRY Financial, a Fortune 1000 insurance and financial services company based in Bloomington, Ill., has selected MajescoMastek’s STG Billing as the billing component for its core systems legacy replacement and modernization initiative. STG Billing will be used to streamline the billing processes for COUNTRY Financial’s portfolio of personal lines products which includes auto, home and agribusiness. COUNTRY Financial will also leverage MajescoMastek’s Insurance Content Manager (ICM), a toolkit designed for business users to maintain their own content for business rules, security access control and other configurable data.

The MajescoMastek STG Billing solution was selected over other available solutions. Key capabilities that contributed to the selection of the MajescoMastek offering included STG Billing’s:

  • Business functionality that aligned well with COUNTRY Financial’s account billing requirements;
  • Business process automation to improve processing efficiency and payment flexibility;
  • ICM to empower business users to self-maintain the system now and in the future;
  • Advanced technology that complemented COUNTRY Financial’s IT strategy and allowed for easy integration.

“We were impressed with both the technology and the breadth of functionality offered with the MajescoMastek system. However, choosing the right software was only part of the solution. We also wanted to be sure to select a vendor who could work side-by-side with us as a trusted partner, and we found that with MajescoMastek,” said Alan Reiss, senior vice president of service operations with COUNTRY Financial. “The implementation is already under way and is going well. We look forward to taking advantage of the system’s rich and flexible capabilities and believe that once in production the new system will enable efficient billing processing and make for a quality billing experience for our policyholders and our financial representative community.”

Commenting on COUNTRY Financial’s decision, Anil Chitale, MajescoMastek’s P&C division practice leader, said, “We are pleased that MajescoMastek and our STG Billing offering have been selected by a company with such a long and impressive history in the insurance industry. COUNTRY Financial’s recognition of the value of our technology and functionality validates that our continued investment in the STG Suite will serve to strengthen our market position, while offering even greater value to our client family. Our rich, out-of-the-box STG Billing functionality and our Insurance Content Manager, which allows business users to maintain the application, are proving to be strong market differentiators for us.”

MajescoMastek’s STG Billing, the award winning, leading billing solution with the largest number of installations in the North America P&C market today, helps P&C insurance carriers meet their unique business needs by providing users with impressive breadth of functionality and configurability. Business users and IT developers can utilize the Insurance Content Manager and Insurance Content Designer to bring a new level of autonomy to the accounts receivable and cash management processes. Business rules, business processes, workflows and forms are configured and accessed through a modern architecture built on open standards, offering an intuitive, web-based user experience along with built in industry best practices acquired from 20 years serving the industry.

About COUNTRY Financial

COUNTRY Financial (www.COUNTRYfinancial.com), serves more than one million households and businesses throughout the United States. Founded in 1925, COUNTRY has more than 2,000 financial representatives in 14 Midwestern and Western states who help families build a financially secure future, no matter where they’re starting from. COUNTRY offers a full range of financial products and services, including auto, home, life and long term care insurance, annuities, mutual funds and college savings plans.

About Majesco

Majesco is a provider of core insurance technology software and IT services to insurance carriers (P&C and Life, Annuity, Group) globally. Majesco delivers proven software solutions and IT services in core insurance areas including policy administration, billing, claims and distribution.

Media Contact

Majesco
Tara Dilzer Alexander
Director, Marketing Communications and Creative Services
Phone: +1-718-916-6873
Email: tara.dilzeralexander@majesco.com

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