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MajescoMastek Provides STG Billing Solution to Nautilus Insurance Group

MajescoMastek Provides STG Billing Solution to Nautilus Insurance Group

Press Release

New York, NY, May 23, 2012 — MajescoMastek, the insurance industry’s enterprise application specialists 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 Nautilus Insurance Group, LLC, a W. R. Berkley Corporation member company and specialist in providing excess and surplus (E&S) commercial property and casualty insurance coverage.

The STG Billing system can streamline, if not completely automate, current workflows, enhance reporting and management capabilities, improve ease of doing business with distribution channels, and is scalable to handle its clients’ future business needs.

“We were looking for a functionally rich solution to enhance and automate our processes, and we wanted a system that would have the flexibility to offer the bill types we use today, as well as those we may choose to offer in the future as our customer needs continue to evolve,” said Mick Kallo, senior vice president and CFO, Nautilus Insurance Group. “Not only does MajescoMastek’s STG Billing meet our functional, process, and technology needs, but the Company and its people have proven to be knowledgeable and a great fit for our team.”

The MajescoMastek STG Billing system enables clients such as Nautilus 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.

“We are very pleased to be selected by an E&S market leader like Nautilus, and welcome them to the growing family of 60 carriers that are using STG Billing. The Nautilus decision further validates that the investments we continue to make in STG Billing, from both a functionality and user experience perspective, have been a good use of our R&D budget. We look forward to continuing the implementation effort with the Nautilus team to help deliver a successful implementation along with maximum business benefit,” said Anil Chitale, P&C Practice Leader, MajescoMastek.

STG Billing is 100% Java based and contains tools to define custom business rules and design payment, collection and delinquency plans, creating organization-specific solutions that increase the business value of IT systems. Flexible workflow management streamlines the collection of payments, 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 areas of the business process than ever before.