Press Release

MajescoMastek Completes Successful Billing Transactions Conversion for Bituminous Insurance Companies

STG Billing Fulfills Demanding Customer Service Requirements at Chicago Insurance Companies

NEW YORK, N.Y. – Oct 6, 2009 – MajescoMastek, the U.S. subsidiary of global technology solutions provider Mastek Limited (NSE: MASTEK), announced today the successful implementation of its STG Billing and Accounts Receivable system at Bituminous Insurance Companies (Bitco).

A web-based configured billing application, STG Billing helped Bituminous successfully convert more than 42,000 policies and approximately 1 million legacy billing transactions. The new billing system enables Bitco companies to meet increasingly demanding customer service requirements and regulatory changes, as well as provides new and flexible payment options to its policy holders.

“Completing this large conversion of policy and billing transactions with MajescoMastek’s STG Billing Solution will help drive business for our insurance companies ,” said Dennis VanderVinne, VP Accounting & Asst Treasurer. “As the demands and expectations of policyholders and agents continues to increase, STG Billing will help meet those needs and put Bitco at the forefront of the industry.”

The STG Billing solution provides property and casualty insurance carriers and Managing General Agents (MGAs) with a standard set of interfaces as well as Web services that are leveraged to integrate with virtually any application.

William McCarter, Global Delivery Executive, North America, “The upgrading of Bitco’s legacy billing system will not only streamline their policy and billing practices, but also drive innovation for the company in the years ahead.”

About Bituminous

Bituminous Insurance Companies (Bitco) and its subsidiaries are a part of the Chicago-based Old Republic International family of companies.
Bituminous provides quality insurance services to special industries including construction, forest products and oil & gas. Primarily Bituminous is known for workers compensation, general liability, commercial automobile and commercial property insurance lines.
A network of local service offices ensures highly trained people accessible to the insured, supporting the belief that there is no substitute for personal, local service.

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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