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MajescoMastek to Provide STG Billing Solution to Alberta Motor Association Insurance Company

Press Release

New York, NY, September 13, 2012 - MajescoMastek, the provider of Insurance Software + IT Services to over 100 carriers, and the U.S. subsidiary of global technology solutions provider Mastek Limited (NSE: MASTEK), today announced that MajescoMastek will provide its STG Billing solution to Alberta Motor Association Insurance Company (AMA Insurance). AMA Insurance is a direct property and casualty writer with in-house claims and legal departments located in Edmonton, Alberta, Canada.

AMA Insurance’s initial focus for the deployment of STG Billing will be auto (personal and commercial), property and accident insurance. The STG Billing system will provide AMA Insurance with a configurable solution that will accurately address the company’s enterprise billing, payments and disbursement functionalities.

"We needed a system that could effectively manage our multiple distribution channels and enable us to deliver the level of exceptional customer service that we require," said Bob Hillman, Vice President Finance, AMA Insurance. "We were initially looking to build a solution in-house. After completion of initial requirements we determined it would be more cost effective to purchase a solution. STG Billing provides us with out-of-the-box functionality that meets most of our needs, but can be further configured in-house."

The MajescoMastek STG Billing system enables clients like AMA Insurance to:

  • Streamline and automate the billing and receivable processes.
  • Integrate with other critical applications, including multiple policy administration systems, general ledger and accounts payables.
  • Migrate key data through the conversion process enabled by MajescoMastek’s data conversion solutions and methodologies.
  • Support various billing methods including direct bill (single policy & account).
  • Provides ability to perform payments, disbursement and collections functions and reduce manual processes.

"We continue to enjoy great industry momentum in the adoption of our STG Billing solution. AMA joins as the most recent member in our rapidly growing family of STG Billing insurance company clients – a group that now includes over 60 insurance carriers," said Anil Chitale, P&C Practice Leader, MajescoMastek. "The industry's confidence in and continued selection of MajescoMastek's solution validates that we are investing our R&D time and budget effectively, and that we are listening to our clients as well the rest of the industry as we make decisions relative to our product, services, and technology strategies and deliverables."

STG Billing is 100% Java based and contains tools to define custom business rules and design payment, collection, disbursement and delinquency plans; creating organization-specific solutions and greater business value. STG Billing’s flexible workflow management streamlines the collection of payments while increasing cash flow, without sacrificing accuracy or consistency. The ability to support multiple channels and levels of billing brings the value of STG Billing to more stakeholders in the business process than ever before.

About Alberta Motor Association Insurance Company (AMA)

AMA Insurance has been protecting the things Albertans care about most for 50 years, focusing on quality service and protection for their clients. AMA Insurance is a wholly owned subsidiary of the Alberta Motor Association (AMA) and sponsor of AMA’s crime prevention programs. The Alberta Motor Association is a CAA/AAA affiliate and the largest membership organization in Alberta. As a leading advocate for traffic safety, travel and consumer protection, crime prevention, and the environment, AMA represents the interests of its members and the motoring public to industry and all levels of government.