Mastek Launches ElixirAsia For Insurance Carriers

Mastek, an IT solutions player, recently announced the launch of ElixirAsia, a platform for life insurance carriers that will enable new carriers ‘go live’ with their businesses in extremely short cycles. An out-of-the-box platform with ready to deploy pre-configured products, interfaces and reports, ElixirAsia helps insurance carriers go live with their business in 90 days.

ElixirAsia claims to incorporate experience gained from multiple insurance implementations in the region. It caters to all aspects of the insurance business lifecycle from proposal to claims while accommodating emerging distribution models.

Vilas Kanyal, Head – Asia-Pacific said, “The Asian insurance industry is witnessing tremendous changes with India alone growing at more than 25% over the last few years. This market, unlike the western countries is characterised by a high volume and rapid scale of business. ElixirAsia is built to meet these unique requirements and Mastek will be the partner of choice in this growth story”

More from Biztech

The product meets the growth imperatives of an expanding market while keeping IT costs low accomodating ever changing requirements in the industry.

Sudhakar Ram, CMD, Mastek said, “ElixirAsia validates our position as a wave 3 company in Indian IT focusing on intellectual property and high impact for our customers. The Asian insurance market is the most attractive growth market in the next decade. With our strategic focus, market proximity and unique set of products and competencies – we expect to be the market leader in the region"

In addition to this, Mastek also launched Elixir Distribution Management (EDM), sometime around February this year, touting it to be its next-gen distribution management solution for life and annuity insurance carriers globally.