MajescoMastek, which offers core insurance systems and services, said Monday that it made several upgrades to its STG Policy Administration system. Among the more significant enhancements, the company said the product now has support for all major types of P&C insurance, including personal, commercial, workers’ compensation and specialty lines.
The company broke the news at the IASA Education Conference and Business Show being held at the Gaylord National Resort & Convention Center just outside of Washington.
Other additions to the product include a feature called ISO Electronic Rating Content, which allows ISO content to be sent electronically right to the policy administration system, and an enhanced underwriter desktop, which the company said offers better support for commercial underwriting, better tools for agent/ underwriter collaboration, and better information gathering.
The company also said STG Policy Administration now includes configuration tools – Insurance Content Manager for business users and Insurance Content Designer for analysts and IT – and the ability for customers to deploy the system through traditional on-premise implementation, via a private cloud, or through a Software-as-a-Service model.
The latest version of the policy admin tool also includes analytics and dashboards that offer out-of-the-box reports.
The bottom line is that the upgrades, according to Ashwin Rodrigues, the company’s director of product marketing, “make carriers more productive.”
STG Policy Administration is part of MajescoMastek ‘s STG Insurance Suite, a comprehensive system for property & casualty carriers that the vendor says offers full life-cycle processing capabilities, from quotes to bills. All the enhancements to the policy administration system are available now.
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