In the News
Celent Profiles MajescoMastek's Elixir Policy Administration System as a ''Modern Solution'' that Supports Service-Oriented Architecture
EDISON, N.J.--(BUSINESS WIRE)--Sept. 5, 2006--MajescoMastek, a leading global IT solutions provider, was featured in a recent Celent report on life insurance policy administration systems in China as offering a "modern solution" that supports service-oriented architecture (SOA).
The report, "Policy Administration Systems in China, 2006: Life and Pension Vendors," written by Senior Analysts Wenli Yuan and Chad Hersh, included MajescoMastek as a "new market entrant" and noted that it is a "modern solution" that supports service-oriented architecture (SOA).
"Our presence in the report is a reflection of our global insurance expertise, process maturity and domain knowledge that has gone into making this multi-country compatible solution. Insurance products differ based on the dynamics of each country. It's critical that a vendor understands the nuances of different markets to implement a global solution. MajescoMastek has a track record of having implemented insurance solutions in complex environments worldwide," said Vijay Chavan, Global Head Insurance, MajescoMastek. "Elixir currently supports 180 insurance products and diverse distribution channels worldwide."
"The life and pension insurance market in China is emerging compared to the more established U.S. and European markets," said Yuan, Senior Analyst at Celent in Beijing.
"Companies offering component-based solutions that use Web services and service-oriented architecture will ensure flexibility that can meet insurance carriers' future requirements as the market develops," added Hersh, Senior Analyst at Celent in Austin, TX.
MajescoMastek's Elixir, the component-based enterprise platform for life and annuity companies, is an end-to-end enterprise platform sold as an integrated solution or as individual components to the world's leading insurance carriers. The company has more than 20 clients globally for its policy administration solution.