For Immediate Release
Printer
Friendly Castek and NetRate, Inc. Agree to Joint
Offering
NetRate’s Rating Solution Complements Castek's
Insure3 Suite
TORONTO (November 17, 2003) — NetRate Inc.
and Castek Inc. have formed a strategic alliance, completing a framework
for both companies
to offer a joint solution that integrates Castek's Insure3
policy administration and NetRate’s rating/quoting solutions.
This alliance helps property and casualty insurance companies
realize efficiency and customer
service benefits from improved rating and policy administration
solutions for
both commercial and personal lines carriers.
"Our partnership with NetRate exemplifies the way in which companies
can work together for the benefit of their customers," says Pete
Jones, Castek's President and COO. “NetRate’s rating solution
is a best-in-class solution for the insurance industry which
complements the functionality of our Insure3 product suite. Collaborating
with NetRate
allows for faster implementation and reduced maintenance effort,
enabling customers to achieve greater efficiencies and realize a larger
ROI that
much sooner.”
“’Rate, Quote and Issue’ is the foundation of insurance companies’ business
processes,” says Dave Jordan, President of NetRate Systems. “The
combination of Castek’s Insure3 Policy administration systems and
NetRate’s extensive rating products ensures a world class solution
for the P&C industry. Their integration allows underwriters, employees
and agents the ability to enter and manage risk information,
then instantaneously Rate/Quote and issue policies for all lines of
business. ”
About Castek
Castek Inc. specializes in the creation of strategic business software
for P&C insurance companies. Recognized for the advanced architecture
and flexibility of its products, Castek provides carriers with
a suite of core business processing systems for insurance product and
process
configuration, policy processing, claims management, claims communications
and insurance customer billing. For more information, please
visit www.castek.com or call 1-866-9CASTEK.
About NetRate
NetRate Systems, headquartered in Lansing, Michigan, was founded to
help insurance companies capitalize on the growing market need for increased
premium accuracy
and the demand for real-time rating, quoting, and application-processing
services. NetRate, with over 100 years of combined company expertise in
the development
of Property & Casualty Rating and Applications software, has company-specific
rating products for both personal and commercial lines, using today's latest
technology.
Contact
Ritchie Leslie
Castek Inc.
416 777 0293