Press Release

Interboro Insurance Company Goes LIVE with STGMastek’s Renaissance Suite of Products

New York, NY – April, 2008 – STGMastek, a P&C Insurance solution provider, today announced that it has completed the deployment of its Renaissance Personal Auto ASP Service for Point of Sale, Policy Administration, Billing and Accounts Receivable and Claims functions to serve Interboro Insurance Company’s (“Interboro”) New York Personal Auto needs. STGMastek is also in the process of deploying Reinsurance and Dashboard reporting along with the Homeowners product as part of phase II for Interboro’s New York book of business, which is expected to go live in Q2, 2008.

Through this agreement, STGMastek’s Renaissance Suite, in its ready to deploy ASP mode, will replace the current legacy system for Interboro’s Personal Auto and Homeowners line of business in the State of New York. STGMastek is also responsible for all activities related to managing the application, making ongoing changes, help desk support, regulatory and statistical reporting. Interboro will reposition their products and overhaul their processing systems with the help of the Renaissance Suite.

Interboro CEO David Nichols stated, “I am very pleased with functionality offered through Renaissance as well as the support we have received with respect to our ASP relationship with STGMastek. Our Brokers have been very positive about the Point of Sales system and we feel this functionality will be the key to our continued growth and profitability.” David went on to say, “When we started the project STGMastek committed to delivering our Auto system in six months. I am pleased to say, STGMastek met that commitment.”

Billy McCarter, President for STGMastek said, “Interboro was looking for a business solution that empowers their agents. STGMastek’s Renaissance solution meets this requirement and more. Agents are able to quote, rate and bind online and service customers in real-time. With Claims, Billing, and Policy capability we have met Interboro’s needs while providing a complete application management service for Interboro’s implementation of Renaissance. ”

About Interboro Insurance Company

Interboro Insurance Company, is a 90-year-old property/casualty insurer based in New York. Interboro, writes Personal Lines business in the state of New York; forty percent in Personal Auto and the remainder in Homeowners. Information about Interboro is available on their website at http://interboroinsurance.com/index.php.

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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