Flexible architecture to enable new product innovation, Faster time to market
Mumbai/Toronto, November 20, 2006: i-flex® solutions, a leading provider of IT solutions to the global financial services industry announced today that Great American Insurance Company has selected Castek�s Insure3 policy administration. Great American will use Castek�s Insure3 Policy product as its Policy and Customer system of record, and to provide a new generation of flexible tools to enhance efficiency and improve profitability.
�Our vision of being a Service Oriented Architecture driven enterprise necessitates the acquisition of flexible software that can be integrated with our front-end development and other best-of-breed software components,� said Piyush Singh, SVP & CIO at Great American. �Insure3 is a solution that is built to support rapid innovation and change, backed by a team of professional and knowledgeable personnel, all focused on our business success.�
�Most players in the insurance industry are constrained by inflexible legacy systems,� said R. Ravisankar, CEO � International Operations & Business Development – i-flex solutions. �I am confident that Great American will derive agility and increased responsiveness to their customers as a result of this deployment.�
�We are excited to be selected by Great American as their policy administration partner as they assemble their new best-of-breed, modern enterprise software platform,� says Yung Wu, Castek�s Chairman and CEO. Castek�s Insure3 Policy product has been purpose-built to have an open Service Oriented Architecture (SOA), and it has been fully exercised through multiple versions and proven in a production environment. As such, it is the ideal choice to anchor Great American�s new enterprise software strategy.�
About Great American Insurance Company
Headquartered in Cincinnati, OH, Great American Insurance Company is a member of the Great American Insurance Group whose parent company is American Financial Group, Inc. (NYSE/NASDAQ:AFG). Through the operations of Great American Insurance Group, AFG is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses, and in the sale of retirement annuities and supplemental insurance products.
Castek Software Inc. (Toronto, ON) is a majority owned subsidiary of i-flex Solutions. Castek specializes in strategic business software for the global Property and Casualty insurance industry. Recognized for the advanced architecture and flexibility of its products, Castek provides insurance carriers with a suite of core business processing systems for insurance product and process configuration, policy processing, customer billing and claims management. For more information about Castek, please visit http://www.castek.com
About i-flex Solutions
i-flex� solutions (Reuters: IFLX.BO & IFLX.NS) is a world leader in providing IT solutions to the financial services industry, with more than 680 customers in over 120 countries. i-flex’s range of products, custom solutions and consulting services enable financial institutions to cut costs, respond rapidly to market needs, enhance customer service levels and mitigate risk. For more information about i-flex, please visit http://www.iflexsolutions.com.