MajescoMastek, the U.S. subsidiary of Mastek Limited, has announced its STG Billing solution has been recognized as the most widely used property/casualty insurance billing solution in a recent Novarica Market Navigator report.
“U.S. Property/Casualty Billing Solutions 2010 (Q1)” highlights the current solutions provider marketplace for P&C billing systems as a means for carriers to analyze and identify potential vendors.
“Our report provides details on more than a dozen billing systems providers for P&C carriers,” says Matthew Josefowicz, director of the insurance practice at Novarica and co-author of the report. “The market for stand-alone billing services grew by more than 25 percent over the last two years, with a number of new entrants in the space. MajescoMastek’s STG Billing solution not only has the largest number of stand-alone billing clients among US P&C insurers, it has added more live clients in the last two years than any other provider.”
“We are very gratified and encouraged to be recognized as the proven billing leader in the P&C insurance industry, and our track record is now fueling our success with larger carriers,” says Billy McCarter, MajescoMastek’s senior vice president of delivery. “We continue to work with our customers to ensure our billing solution meets their business needs, helps improve efficiencies, and provides a better experience for both customer and carrier.”
“As the industry evolves within the current marketplace, we have adapted our billing system to fit the changing needs of our clients—focusing on making our solutions ‘agent and insured self-service’ oriented with support for user-configurable business rules and payment plans,” says MajescoMastek’s Anil Chitale, senior vice president and P&C practice leader. “We also recently launched our fourth version of the solution, making it SOA/Web services compliant to ease integration while also incorporating new technologies to improve the end-user experience.”