MajescoMastek, Flexi Offering Accounting Software to Insurers

MajescoMastek, the U.S. subsidiary of global solutions provider Mastek Limited, has entered into a partnership agreement with Flexi Software, a provider of financial accounting software, to deliver an integrated accounting solution for insurance companies.

The alliance will provide insurers with the best-of-breed solutions that are seamlessly integrated and supported from a single source. Under the agreement, MajescoMastek will expand its insurance technology suite with the addition of an integrated accounting solution for all insurance transactions, including general ledger, accounts payable, fixed assets, purchasing, and projects.

The two companies' solutions will be integrated through a service-oriented architecture using Web services. Insurers will have the benefit of a single entry in the STG Suite (Policy, Claims, Reinsurance, and Billing) with real-time validations and updates to the financial accounting suite. CFOs will be able to view the financial impact of transactions and have the ability to drill down to the deals with a click of a mouse.

"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, for MajescoMastek. "By working with us, any integration issues will be resolved, enabling carriers to transform their operations and achieve greater efficiency and cost savings."

"Flexi is committed to partnering with best-in-class companies to help solve important customer problems," says Stefan R. Bothe, CEO of Flexi. "By partnering with a company such as MajescoMastek, we bring together Flexi's strength in creating financial accounting solutions with MajescoMastek's insurance solutions and insurance expertise to offer an end-to-end solution to help insurance companies operate their businesses more effectively."