The Health Insurance market being under-penetrated in Asia, carriers have a huge opportunity to grow. Carriers are maximizing their revenue potential by launching innovative products across multiple product lines. There is an obvious need to keep costs low to ensure affordable health insurance solutions for both the retail and corporate customers.

Insurers need to contain their cost while being agile to adapt to the growing and competitive market. A high claims ratio, costly distribution and non-availability of adequate clinical data only comprehend the problem of administering health insurance effectively.

ElixirAsia Health – Mastek’s policy administration platform for Health insurance companies is an out-of-the-box end-to-end back office platform that automates the entire health insurance lifecycle. Mastek’s proven implementation methodology and mature data migration framework enables a speedy go-live and worry free migration to a modern system.

With ElixirAsia Health , Insurers can:

• Launch new & innovative products in days
• Reduce time to market for launching new channels
• Enable Straight through processing of policies
• Enable multiple product lines through a single system

• Flexible – Ability to various health insurance product lines with ready to deploy pre-configured products
• Configurable – Elixir’s Product component provides easy configurability and flexibility that enables insurance companies to gain competitive advantage by reducing the time to market and cost of launching new products.
• Business Processes Enabler –  Promoting streamlined processes that improve operational efficiency and entails cost savings for better operational margins. Compliance with market regulations adds up to the speed of doing business.
• Scalable – Proven to scale multi-million policies adding to benefits of operations of scale.

• Straight Through Processing – Greatly shortened processing cycles and reduces costs and operational errors as well as speed up transactional handling.
• Distribution Management Enabled
• In-built Workflow provides significant improvement in internal flows of information and elimination of processing errors.
• Extensive Parameterization – Authorized business users can make changes to the business rules and parameters.
• Extensive Management Information – Provides suite of standard management reports with capability to cater to external reporting tool e.g. Business Objects for ad-hoc reporting.