Press Release

MajescoMastek Announces New Products

New STG Reporting Database, Insurance Content Manager and Enhanced Billing User Interface Increase Ease of Use for Insurance Carriers.

New York – November 18, 2009

MajescoMastek, the U.S. subsidiary of global technology solutions provider, Mastek (NSE: MASTEK), today announced two new STG products and billing system enhancement following the conclusion of their second annual User Conference, well attended by their client base, held November 8-10 at the Royal Palms Resort in Phoenix AZ. The conference was co-sponsored by partner Flexi software.

With approximately 50 customers in attendance, leading insurance and technology professionals gathered along with the MajescoMastek leadership team to discuss key trends in the insurance industry, the latest technologies and best practices for meeting customer needs.

The new product roll outs aim to increase ease of use to better organize, manage and analyze insurance content and data. The STG Reporting Database provides easy access to transactional data for analysis and ad-hoc reporting, while the STG Insurance Content Manager serves as a configurable tool for product/claims managers and billing supervisors to manage all of a company’s insurance content.

Additionally, MajescoMastek announced major enhancements to the STG Billing User Interface for existing and future customers. The new interface has an improved architecture with dashboard viewing, customizable options and powerful search capabilities.

“The industry is changing quickly and we have seen a greater demand for solutions that allow for better configurability that are easy to use,” said Michael Dufton, President at MajescoMastek. “As an innovation and transformation partner for insurance companies worldwide, we are pleased to offer new solutions with easy-to-use interfaces while maintaining depth of functionality to streamline, organize and analyze insurance data and content.”

Following an inspiring Keynote from best selling author and expert on human performance, best practices and innovation Robert Kriegel, MajescoMastek customers, partners and leaders attended a number of sessions throughout the two-day User Conference.

In addition to company updates given by MajescoMastek leadership on both the Property & Casualty and Life & Annuities sectors, further sessions included:

  • “Sustainable Cost Reduction in an Industry Best Categorized as “Collection of Exceptions,” Panel moderated by Ranji Persad, SVP Sales of North America, MajescoMastek
  • “Partnering for Success,” Billy McCarter, SVP Delivery, MajescoMastek
  • “Paradigm Shift in Information Technology and Insurance,” Chad Hersh, Principal in Insurance Practice, Novarica
  • Client Presented Case Studies: CUNA Mutual, FCCI, Catholic Mutual Group
  • “Transformation of Business,” Erik Stockwell, SVP North America Life & Annuity, MajescoMastek
  • Sponsor Presentations: Flexi Software, FirstBest

“At MajescoMastek, we view our customer relationships as true partnerships and place a high importance on collaboration,” added Dufton. “The annual User Conference provided forums for key players in our industry to come together, share ideas and foster innovation for all of our businesses.”

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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