PRZOOM - /newswire/ -
Manalapan, NJ, United States, 2007/07/01 - Maple Technologies announced today that The Taft Companies, based out of Towson, Maryland, have joined Maple Tech’s initiative to develop an end-to-end solution for Captive Manager operations.
Aspire Captive Suite, the beta concept product, is gaining broad support within the captive management industry, an industry that in substantial part relies on disparate technologies and spreadsheets to perform their captive management systems.
The Maple Tech initiative has gained support from virtually every key sector of the captive management industry, not only captive managers, but also the support of a captive specialty law firm and one regulator who has agreed to support the initiative by making available a knowledge resource base for Maple Tech.
Aspire Captive Suite will be designed to consolidate the day-to-day business requirements of a captive manager operation through a single interface application. Aspire Captive Suite will also be designed to accept data streams in a variety of formats from the captive manager’s clients, ingesting mission critical information to allow the captive manager to perform and complete their responsibilities.
Using the powerful backbone technologies from their flag ship product, the Aspire Information System, Maple Tech will reconfigure and consolidate much of the functionality needed to support captive management operations. This configuration will be supplemented with additional functionality needed to support analytical processes, annual statements and regulatory reporting, as well as other business requirements.
“The Taft Companies are delighted to have this opportunity to work with Maple Technologies, in its initiative in the development of a captive management IT system and its Beta development.” said Richard C. Goff, Managing Member of The Taft Companies. “This software package, once completed, will fulfill a much needed, long overdue software system designed specifically to support the captive management industry.”
“We see a significant opportunity for what we view as a technologically underserved industry,” said Nicholas H. Teetelli, CEO of Maple Tech. “Aspire Captive Suite will not only allow captive managers, like The Taft Companies, the ability to streamline their functional and business operations requirements, but will also bolster marketability of their services, offering enhanced service capability to their captive clients.”
Maple Tech has spent the last year gaining industry support and collecting business requirements specifications. Beta development is scheduled to begin this October, with a prototype test beta becoming available by the second quarter of 2008.
About The Taft Companies
The Taft Companies offer easy access to Bermuda markets for captives, risk retention groups (RRGs) and brokers. We open the doors to all of the Bermuda-domiciled underwriters of major coverages such as high-limit excess layers for Directors & Officers and Excess Liability coverages, Punitive Damages Wrap-Around coverage, Stop Loss coverages, and Finite and Blended Risk coverages.
We also provide captive and rent-a-captive management services, which include reinsurance placements, for companies domiciled in Washington, D.C., South Carolina, Kentucky and Montana as well as Bermuda.
About Maple Technologies, LLC
Maple Technologies, LLC (maple-tech.com), with corporate offices out of Manalapan, New Jersey, is a software development company whose primary focus is web application development for the insurance industry. Its main product, Aspire, is a comprehensive web-based Internet insurance policy and claim management system. Aspire boasts cutting edge technologies that combine intuitive user interfaces with intelligent data structures. Through integration of the latest in web and database technologies, Aspire allows real time access to data while offering full policy and claim management capabilities that respond quickly.