Florida-based Cypress Insurance Group has selected MajescoMastek’s STG Suite of products and insurance IT services.
The single MajescoMastek system will replace Cypress’s multiple existing systems currently used for policy, underwriting, rating, billing, and management of the distribution channel.
The Cypress selection validates MajescoMastek’s market position as a provider of complete, integrated, and end-to-end solutions for the property and casualty market.
The MajescoMastek STG solution will be provided to Cypress through a Software-as-a -Service (SaaS) delivery model as part of a multi-year outsourcing agreement which will include a combination of onshore and offshore support.
MajescoMastek’s end-to-end STG Suite includes fully integrated STG Policy Administration, STG Billing, and Distribution Management modules.
The Suite is delivered pre-configured with standard insurance content for several lines of business, and provides a complete solution for agents, underwriters and direct consumers.
The system is enabled by the Insurance Content Manager (ICM), a toolkit designed for business users to maintain their own content for rates, rules, forms and other configurable data.
Cypress CEO Gary Harger said Prebuilt integration with the Third- party data services supported our vision of rules based underwriting and straight through processing and expect significant efficiencies in processes as a result of that.