Seoul & Toronto (24 May 2004) – Castek Inc. is pleased to announce a business partnership with Samsung SDS Co. Ltd. to provide localization and implementation services for the Insure3 Suite of P&C insurance business applications in South Korea.
“Castek is delighted to partner with Samsung SDS, Korea’s leading systems integrator.”, says Pete Jones, Castek’s President and COO. “The Korean P&C insurance sector is sophisticated, innovative and competitive. We are delighted that our R&D work with Samsung SDS has demonstrated the ability of Insure3 to support the Korean language and insurance business requirements.”
“”We’ve decided to partner with Castek for its proven solutions with strong references in North American market,” says In Su Yun, Master Project Manager of SDS, who is heading the company’s Insurance IT Task Force. “We certainly are impressed with the Insure3’s flexible and expandable structure which supports the complex ‘Super Insurance’ product, a hot topic in the Korean P&C insurance market today.”
Samsung SDS and Castek have worked together to demonstrate the ability of Castek’s Insure3 Policy product to support Korean insurance product structures, including the complex “Super Insurance” product which contains term life, health and accident insurance coverages, as well as demonstrating conventional P&C insurance products. The companies have also planned an implementation services model that will draw on Samsung SDS’s strengths as a CMM level 5 IT services company.
The business partnership between the two companies demonstrates Castek’s new implementation services approach. Castek will focus on the further development of its award-winning Insure3 Suite and for implementation services will team with partners who have proven success in the implementation of large-scale insurance software solutions.
About Samsung SDS
Samsung SDS Co. Ltd (Seoul, Korea) is the largest Korean systems integrator. Samsung SDS has CMM level 5 designation and the highest level of international certifications of any systems integrator in Korea. Samsung SDS provides a full range of IT services to all business and government sectors, including insurance and other financial organizations. Samsung SDS is headquartered in Seoul with operations in China, Japan, Singapore, the United States, the United Kingdom, Germany and India. For more information, please visit www.sds.samsung.co.kr.
About Castek
Castek Inc. (Toronto, ON.) specializes in stragegic business software for P&C insurance. Recognized for the advanced architecture and flexibility of its products, Castek provides carriers with a suite of core business processing systems for insurance product and process configuration, policy processing, and claims management. For more information, please visit www.castek.com.
