MajescoMastek Introduces Policy Administration System

MajescoMastek, the U.S. subsidiary of technology solutions provider Mastek Ltd., has introduced its Elixir North America Group Policy Administration System (Elixir Group). Majesco says Elixir Group provides insurers a technology platform to administer all annuity, health and life insurance products for true group, list bill and worksite offerings. The system is offered through a traditional software licensing model or as a hosted solution, to provide a variety of pricing and delivery options to best suit each insurer’s budget and operational needs.

MajescoMastek says that, with Elixir Group, it becomes the only software provider to offer both individual and group policy administration systems for life, health and annuity products that utilize a common technology platform. Elixir Group leverages the same underlying technology and architecture as MajescoMastek’s Elixir North America for individual life, health and annuity products.

According to Majesco, Elixir North America Group Policy Administration System highlights include a “client centric” view; self-service functionality for all stakeholders in the insurance value chain; unlimited insurance product features for riders or combination products; straight-through processing functionality; automated census input feeds; real-time quotes; and distribution and commission management.