COUNTRY Insurance & Financial Services Contracts Castek; Insure3 Provides Product Flexibility, Functionality, Scalability.Business/Technology Editors TORONTO--(BUSINESS WIRE)--May 21, 2001 Castek Software Factory Inc., a provider of enterprise-wide processing systems for financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , announced today that COUNTRY(SM) Insurance & Financial Services (www.countryfinancial.com, formerly Country Companies Insurance Group) has purchased a license for Castek's Insure Insure can mean:
(1) (MicroSoft Installer) See Windows Installer. (2) (Medium Scale Integration) Between 100 and 3,000 transistors on a chip. See SSI, LSI, VLSI and ULSI. Preferred Insurance Company, Holyoke Mutual Insurance Company, and Middlesex Mutual Assurance Company -- which, combined, receive more than $1 billion in property and casualty premiums annually. The license was sold through IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , which acted as a reseller An organization that sells hardware and software to the general public. Resellers purchase products from software publishers and hardware manufacturers. , providing synergies between its role as an IT solutions provider to COUNTRY and a strategic business partner of Castek. "This licensing agreement demonstrates the compelling flexibility of Insure3," says Yung Wu, founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Castek. "Because of its broad reach and strategic alliance partners, COUNTRY needed more than simple policy administration. They will be able to use Insure3 as a single unifying platform from which to handle all of their property and casualty lines of business, across the different business and operating models Operating Model is a term that is used in many contexts. In essence an operating model describes how an organization operates across both business and technology domains. The Operating Model describes what is important for the organization. of the alliance. We're very proud to have earned their business." COUNTRY Insurance & Financial Services, headquartered in Bloomington, Ill., serves more than 600,000 households throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . It protects families, individuals, and businesses from the unexpected and helps them achieve financial security. COUNTRY offers a full range of insurance and financial products and services from auto, home, and life insurance to investment-management services and mutual funds. "We chose Insure3 because of its flexibility," says Alan Reiss, COUNTRY vice president for information systems. "Castek's Product Configuration Tool (PCT (Private Communications Technology) A protocol from Microsoft that provides secure transactions over the Web. See security protocol. ) enables us to define a product and make it ready for market quickly. New-product innovation and configuration can be accomplished literally in minutes. We'll better serve our customers, capture new markets, and gain a competitive advantage." "Because Insure3 puts control of product innovation and rollout back into the business user's hands, IT is no longer on the critical path," says Bruce Trost, COUNTRY vice president of property/casualty operations. "Enabling mass-customization to target markets allows us to take policy administration to a whole new level." About Castek Castek Software Factory Inc. specializes in the creation of strategic, business software solutions for the financial services industry, with a specific focus on property and casualty insurance. Founded in 1990, Castek is recognized as a leading practitioner of component-based development. For more information, readers can visit the company's Web site at www.castek.com. |
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