Insurance Solutions

Mastek has had experience in a myriad of solutions in the insurance space globally. This has resulted in us developing our unique Insurance Enterprise Platform – Elixir. We combine deep business understanding and years of global experience to provide business impact with Elixir – Insurance Enterprise Platform. This component based platform has detailed functionalities in Point of Sale, Channel Portal Channel Management, New Business and Underwriting, Policy Servicing, Claims/Payout Processing and Reinsurance.

Mastek's modular solutions approach, along with its component libraries, helps it build your enterprise that works seamlessly with existing legacy applications. Our insurance solution accelerator based platform enables reduction in time-to-market, hence, giving you the advantage against your customers.

Elixir covers the largest range of products in the Insurance space. From traditional products, such as, term, whole life and endowment, to investment products such as, universal life and variable universal life, to retirement products such as, annuities, variable annuities, equity indexed annuities and pensions, to health products such as, disability income, critical illness and long term care products.

To view our Elixir Enterprise Platform Architecture, click here!

What makes the Elixir solution unique:

  • Single integrated platform for all product lines (traditional, investment, retirement and health) and channels (captive, broker dealer banks, advisors, etc)
  • Separate business rules engine and common calculation engine empower your business users to configure the system with minimal dependence on IT
  • Single customer view through our customer-centric design hides the integration complexities from users
  • The integrated business intelligence component helps you stay on top of things with flexible data analysis and mining options
  • Design focus on flexibility makes you nimbler and reduces time and effort for implementing changes
  • Provides you a complete solution for your business needs instead of a point solution or product
  • Enriched by valuable feedback and best practices gained from its broad global installation base

Web-enabled J2EE-based design future proofs your system

Channel Management
Some of the key issues facing insurance companies are developing newer channels, improving channel performance and enhancing their profitability. Mastek's Elixir Channel Management solution enables insurance companies to
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Claims Management
Claims affect the bottom line of an insurance firm dramatically. Effective claims analysis can improve the quality of underwriting, optimize reinsurance and assist in product innovations.
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Policy Admin
Cost of processing and speed in launching new products are critical factors in what has become an increasingly commoditized insurance industry. However, inflexible legacy systems constrain the ability of insurance companies to
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