MajescoMastek has entered into a partnership agreement with Flexi Software, a provider of financial accounting software, to delivery end-to-end integrated accounting solutions for insurance carriers, according to a press release issued by MajescoMastek. The partnership will benefit insurers by providing them with best-of-breed solutions that are seamlessly integrated and supported from a single source, enabling them to operate their businesses more efficiently and cost-effectively, the vendor source says.
Under the terms of the agreement, MajescoMastek will expand its insurance technology suite by adding what the Edison, N.J.-based subsidiary of Mastek Ltd. (Mumbai) describes as a seamlessly integrated accounting solution for all insurance transactions, including general ledger, accounts payable, fixed assets, purchasing and projects.
The two vendors' software solutions will be seamlessly integrated through a services-oriented architecture (SOA) using Web services, according to the release. As a result, insurers will enjoy the benefit of a single entry in MajescoMastek's STG Suite for policy, claims, reinsurance and billing, with real-time validations and updates to the financial accounting suite, the vendor says. CFO users will have the benefit of immediately viewing the financial impact of transactions and have the ability to drill down to deals with the click of a mouse, the vendor claims.
"This partnership with Flexi Software will benefit insurance carriers by providing them with proven, best-of-breed solutions that are seamlessly integrated," says Michael J. Conway, vice president new business development, MajescoMastek. "By working with us, any integration issues will be resolved, enabling carriers to transform their operations and achieve greater efficiently and cost savings. Partnerships like this are another way in which MajescoMastek is enabling business transformation for our customers."
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio