Castek

About Castek

Castek Software Inc. was an enterprise software company established in 1995 by Tatiana Bonneau, who also served as its CEO. The firm was headquartered in Toronto, Canada, and focused on developing core-business processing systems for the property and casualty (P&C) insurance sector.

The company's primary offering was Insure3, a comprehensive, service-oriented architecture (SOA)-based software suite. This platform was designed to manage the full policy lifecycle, including product and process configuration, policy administration, billing, and claims management. Castek targeted large and mid-sized insurance carriers, providing them with tools to re-engineer their business models from policy-centric to customer-centric, reduce operational costs, and accelerate the launch of new products. The software supported deployment on platforms like Microsoft Windows Server 2003 and integrated with third-party systems for rating and document management.

Castek's growth strategy included acquisitions, such as the 2001 purchase of InsuroCity, a developer of an internet-based claims management system, to enhance its own claims platform. The company secured funding from several institutional investors, including Hero Ventures, Altamira Capital Partners, and CIBC Capital Partners. In August 2005, i-flex solutions acquired a majority stake of 59.9% in Castek. This partnership led to the acquisition of notable clients like Tokio Marine Management and Great American Insurance. Subsequently, i-flex, which became part of Oracle, acquired the remaining shares, making Castek a wholly-owned subsidiary in a transaction completed by early 2008.