Shortened Development Timetable Will Benefit Customers, Marketplace
Toronto, Ontario (August 31, 2001) — Castek, a
provider of software systems for financial services organizations, has announced the
development of Insure3 Claims, the core claim-processing addition to
Castek’s Insure3 suite of applications for property/casualty insurance.
Insure3 Claims will help insurers improve loss ratios and achieve
multi-point returns to their bottom lines. Its financial and adjudication tools, along
with the flexibility of Insure3 Policy, can provide competitive advantages to
Castek customers by combining full-scale insurance product management with efficient,
cost-effective claims processing capabilities.
“As a standalone claim-processing system, or integrated with Castek’s Insure3
Policy, Insure3 Claims will help insurers achieve cost-effective control –
from insurance product development and introduction to outcome,” says Yung Wu, CEO of Castek.
“Several of our customers have pre-committed to Insure3 Claims, providing
validation and functional/architectural input in the development process,” Wu goes on
to say. “In turn, we will invest a significant portion of our recent round of
financing in Insure3 Claims, reducing our development time, rewarding the faith
of our investment partners, and allowing existing and prospective customers to leverage
our complete Insure3 suite all the earlier.”
Castek Software Factory Inc. specializes in the creation of strategic, business
software for the financial services industry, with a specific focus on property and
casualty insurance. Founded in 1990, Castek is recognized for its advanced, flexible core
business processing systems. For more information, readers can visit the company’s
Web site at www.castek.com.
Contact: Mark O’Brien
Martino & Binzer
(860) 678-4300, Ext. 233