Gerber Life Insurance Co. has chosen the Elixir North America platform to administer all its lines of business. Elixer is a product of MajescoMastek, a provider of insurance software and IT Services to insurance carriers, and the U.S. subsidiary of Mastek Ltd. MajescoMastek also will provide a range of additional services to assist Gerber Life in its two-year transformation initiative to modernize its core policy administration processes.
MajescoMastek says the Elixir North America platform is able to administer all lines of business for group and individual on a single platform, and delivers new business and underwriting, policy issue and administration, policyholder services, billing and collections, reinstatements and terminations, claims, accounting and reinsurance. The platform has a PRASE rules engine, providing a library of life, health and annuity products, enabling product and process development capabilities.
Benefits include deployment of a fully modernized infrastructure; enhanced customer service; facilitation of real-time transactional events; improved speed-to-market for new products; implementation of an agile environment; optimization of business processes and improved market share, translating to revenue improvement and cost reduction; and increased contribution to its parent company, Nestlé Group, says MajescoMastek.
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