ElixirAsia is expected to support policies to meet the growing Asian insurance market needs
Mastek, an IT solutions provider offering technology and IP-led enterprise solutions to insurance, government and financial service organisations, has introduced ElixirAsia, a base for life insurance carriers which will enable new carriers go live with their businesses in three months.
The company claims that ElixirAsia is tailored for all aspects of the insurance business lifecycle, from proposal to claims, while accommodating emerging distribution models. ElixirAsia is expected to support policies, to meet the growing Asian insurance market needs.
Vilas Kanyal, head of Asia-Pacific region, Mastek, 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.”
Mastek launched Elixir Distribution Management (EDM), its distribution management solution for life and annuity insurance carriers, in February this year.