Press Release

MajescoMastek Wins Two Celent XCelent Awards for STG Billing

MajescoMastek recognized in Celent report with top honors for both Advanced Technology and Customer Base among stand-alone billing system vendors

New York, NY, February 2, 2012— MajescoMastek, the U.S. subsidiary of global technology solutions provider Mastek Limited (NSE: MASTEK), today announced being named a dual-winner of Celent XCelent awards for its STG Billing system in Celent’s recently published report: Stand-Alone Billing System Vendors, North American Property and Casualty Market 2012 which profiled 13 billing systems.

MajescoMastek’s STG Billing won two XCelent Awards for its top scores in advanced technology and customer base.

The Celent report utilizes the ABCD Vendor View, Celent’s standard representation of a vendor marketplace, designed to show at a glance the relative positions of each vendor in four categories: Advanced technology, Breadth of functionality, Customer base, and Depth of service.

“The billing function in property/casualty carriers has transformed from a back office operation to a front office value proposition,” said Mike Fitzgerald, senior analyst with Celent’s insurance group and author of the report. “Carriers are making significant investments in skills and technology to position billing as a critical customer service activity and as an opportunity to retain clients.”

“We are very excited with these recent XCelent Awards wins as they validate and highlight STG Billing’s continued leadership position in the North American Property & Casualty (P&C) market,” said Anil Chitale, MajescoMastek’s P&C division practice leader. “We are grateful to our customers who participated in the Celent research and we look forward to continuing to enhance our STG Billing offering to help our customers to address the challenges of increasing market demands for new customer service and billing capabilities and options.”

MajescoMastek’s STG Billing helps P&C insurance carriers meet their unique business needs by providing users with an 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 MajescoMastek’s 20 years serving the industry.

STG Billing with insured/agent portals is a key component of the STG Suite that includes STG PAS (Policy Administration), STG Product Modeler, STG Claims and Enterprise Distribution Management (EDM). These components can be implemented standalone within the customer’s IT landscape, or as an enterprise end-to-end suite that supports the complete P&C insurance value chain.

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.

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