Private cloud delivery offers a quick and cost-effective path to automation of underwriting and policy processing workflow
New York, NY, April 25, 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 CNA Canada went into production with MajescoMastek’s STG Policy Administration to administer its commercial auto fleet line of business.
Following a 10-month implementation, STG Policy Administration has been successfully deployed via a private cloud, enabling a quick implementation combined with an attractive and predictable pay-as-you-go pricing model.
The new system has enabled MajescoMastek’s customers to automate underwriting and policy processing workflow to support growth and maintain a strong competitive position through improved time to market and continued superior service to broker partners.
“MajescoMastek offered a best fit solution with STG Policy Administration,” said Lynne Von Wistinghausen, vice president of Operations & Information Technology, CNA Canada. “And the MajescoMastek team demonstrated great domain expertise with a thorough understanding of the complexity of our niche commercial auto fleet line of business.
“The cloud delivery is also proving to be an outstanding approach; enabling us to continue to grow our business by leveraging the best technology, but with a predictable and manageable cost structure,” she continued.
In addition to the new automation capabilities, the STG Policy Administration solution delivers:
- Streamlined processes;
- Improved operational efficiencies and reduced operating costs;
- Decreased time to market and turnaround for policy issuance;
- Enhance customer care and service;
- Improved ease of doing business for broker partners; and
- Increased process and service flexibility.
“We are pleased to add another ‘in production’ client, especially a company as well-known and respected as CNA. We appreciate the recognition of the value of our STG Policy Administration solution, as well as the expertise and quality of our staff,” said Anil Chitale, P&C Practice Leader, MajescoMastek. “Our respective teams worked very well together through both the initial proof of concept during the evaluation phase and the subsequent implementation project, enabling us to successfully deliver a production environment in a short amount of time.”
MajescoMastek’s STG Policy Administration helps P&C insurance customers meet their unique business needs by providing users with unrivaled functionality and configurability, allowing them to manage their business their way. The platform provides the capability to react quickly to shifting customer preferences and changing markets, while reducing operating costs through an affordable and flexible policy administration platform. A proven solution in the P&C industry, STG Policy Administration was developed using modern architecture with open standards, combining an intuitive web-based user experience with industry-best practices acquired from 20 years serving the industry.
About CNA Canada
Serving businesses and professionals since 1897, CNA is North America’s seventh largest commercial insurance writer and the 13th largest property and casualty insurance company. CNA’s insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA’s services include underwriting, risk control and claims administration. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products may not be available in all provinces and may be subject to change without notice. CNA is a registered trademark of CNA Financial Corporation. For more information, please visit CNA at www.cnacanada.ca.
MajescoMastek is part of the Mastek Group, a global provider of innovative technology solutions focused on Property & Casualty, Life & Annuity, Capital Market firms, and the public sector. For over 30 years, we have combined our leading products, people, and processes to drive business impact and competitive advantage. MajescoMastek enables technology enabled business transformation and has a track record of successful implementations.
As Enterprise Application Specialists, MajescoMastek uniquely combines its wide intellectual property base, domain expertise, mission-critical program management abilities and complex solutions capabilities to help insurance carriers unlock business value. MajescoMastek delivers proven solutions in core insurance areas including incentive compensation, producer lifecycle management, billing, policy administration, new business processing and claims. Mastek has over 3000 employees and operates in 8 countries across the globe.
For more information, please visit us on the Web at www.majescomastek.com, or call 1-800-249-9540.