Press Release

MajescoMastek and FirstBest Announce Business Alliance to Improve Underwriting Operations for P&C Insurers

New York, and Bedford, MA – October 8, 2009 – MajescoMastek, the U.S. subsidiary of global technology solutions provider, Mastek (NSE: MASTEK), and FirstBest® Systems, Inc., provider of insurance software solutions that help Property & Casualty insurance carriers write more business and write better business, today announced a business alliance. The strategic partnership will enable insurers to improve underwriting operations and ease of doing business with their agents and brokers.

The alliance fuses MajescoMasteks STG Suite including the best of breed STG Billing Solution with FirstBest UMS™, a next-generation underwriting workstation combined with a business analyst workstation and a web 2.0 agent portal. The combined offering will help insurance carriers with many challenges of today’s market by improving agent and underwriter efficiencies; go-to market strategies; and growing the size and quality of their book of business.

“As an innovation and transformation partner for insurance companies, we help our customers reach their business goals by strategically leveraging technology to improve mission-critical and core processes,” said Anil Chitale, senior vice president of the property and casualty division for MajescoMastek. “By aligning our solutions with FirstBest, we can now closely integrate and deliver best-in-class operational components for our customers, by offering them the ability to improve overall core operations and gain a strategic advantage.”

“We are excited about our strategic technology partnership with MajescoMastek”, stated John Belizaire, CEO, FirstBest. “The combined solutions will help insurers go to market faster, enter new markets, improve underwriting operations, and enable visibility into the book of business for agents and underwriters.”

This new alliance illustrates MajescoMastek’s commitment to building strong partnerships and collaborating with both its customers and strategic partners to ensure they achieve their goals.

“Partnerships and collaborative efforts are the future for our industry,” Anil Chitale said. “They are producing the innovative products and real ingenuity that add greater value for our customers.”

About FirstBest

FirstBest® Systems, Inc. delivers P&C solutions that help insurance companies write more business and write better business. Our solutions enable Carrier-Agent collaboration as well as underwriting efficiencies and market growth, and include an Underwriting Workstation, Agent Portal and Agency Connectivity. Our flagship product, the FirstBest UMS™, combines a next‐generation underwriting workstation with a business analyst workstation and FirstBest Agent™, a web 2.0 agent portal.
Companies such as AMERISAFE, Inc., (Nasdaq: AMSF), a specialty writer of workers’ compensation insurance for hazardous industries, as well as ICW Group Insurance Companies, a multi-line Super Regional Insurance Carrier, are leveraging FirstBest to expand their book of business and improve ease-of-doing business with agents.
For more information, visit www.firstbest.com or call 1.888.863.6095.

Meira Primes
VP, Marketing || FirstBest Systems, Inc.
781.863.6005 || mprimes@firstbest.com

FirstBest is a registered trademark of FirstBest Systems, Inc. UMS, Underwriting Management System and FirstBest Agent are trademarks of FirstBest Systems, Inc. MajescoMastek-Mastek is a trademark of MASTEK, Inc. All other trademarks are property of their respective owners.

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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