Continuous investment in research and development and knowledge of best practices forms the foundation of MajescoMastek’s latest product release, Elixir Distribution Management (EDM), its next-generation distribution management solution for life & annuity insurance carriers in North America.
MajescoMastek, the Edison, N.J., U.S. subsidiary of global technology solutions provider Mastek, describes the release as primary component of the Elixir Suite of products, the company’s flagship line for the insurance industry. EDM is a standalone system that allows a carrier to manage the entire distribution landscape.
Harold Apple, SVP, MajescoMastek, says that EDM is in production in six countries by 11 global insurance companies with more than 15 million policies and 300,000 producers worldwide. “This product strengthens our position as an innovative IT solutions provider to the North American insurance industry,” he says.
EDM’s Producer Life Cycle Manager, Compensation Manager, Performance Manager and Producer Portal are designed to form an end-to-end, comprehensive system that oversees diverse channels and administers producers from registration to termination.
As single, integrated solution to all distribution challenges, EDM’s ability to design and run flexible compensation programs helps align compensation plans to business strategy, says the company. It also helps identify top-performing producers and assure higher levels of service.
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