For Immediate Release
Castek Announces Insure3
Claims
Shortened Development Timetable Will Benefit Customers, Marketplace
TORONTO--(BUSINESS WIRE)--Aug. 27, 2001--Castek, a
provider of software systems for financial services
organizations, announces the development of Insure3
Claims, the claim-processing addition to Castek's Insure3
product suite for property/casualty insurance.
Insure3 Claims will help insurers improve loss ratios
and achieve multi-point returns to their bottom lines.
Its financial and adjudication tools, along with the
flexibility of Insure3 Policy, can provide competitive
advantages to Castek customers by combining the full-scale
insurance product management with efficient, cost-effective
claims processing capabilities.
"As a standalone claim-processing system, or integrated
with Castek's Insure3 Policy, Insure3 Claims will help
insurers achieve cost-effective control - from insurance
product development and introduction to outcome,"
says Yung Wu, CEO of Castek.
"Several of our customers have pre-committed to
Insure3 Claims, providing validation and
functional/architectural input in the development process,"
Wu adds. "In turn, we will invest a significant
portion of our recent round of financing in Insure3
Claims, reducing development time, rewarding the faith
of our investment partners, and finalizing our complete
Insure3 suite all the earlier."
About Castek
Castek Software Factory Inc. is the premier provider
of Internet-age, component-based software solutions.
The company specializes in the development of strategic,
component-based business software solutions to the financial
services sector, with a specific focus on the P&C insurance
sector. Founded in 1990, Castek is recognized as the
pioneer and leading practitioner of component-based
development. For more information about Insure3
visit the company web site at www.castek.com