Winnipeg-based Wawanesa Life Insurance Company has selected MajescoMastek’s Elixir North America as its new policy administration system for individual life and annuity products.
MajescoMastek Elixir North America will enable Wawanesa Life to administer individual life and annuity products on a single platform; automate current manual processes; quickly develop new products; lower the total cost of ownership and offer additional web service capabilities to agents and policyholders.
Wawanesa Life said its goal is to replace its current multiple legacy mainframe systems environment with a single, modern technology platform.
After an extensive review of available offerings, Wawanesa Life selected the MajescoMastek Elixir solution as the best fit end-to-end platform available to meet its objectives of straight through automated processing, reduced product development time and enhanced customer service.
Wawanesa Life COO Mary Nemeth said the firms goal is to transform individual life processing environment without compromising the service commitment to the brokers and policyholders.
MajescoMastek SVP, Life and Annuity North America Erik Stockwell said with Elixir as their new foundation they will continue to grow and provide exemplary service of their existing products while using the flexibility and functionality of the platform to bring new life and annuity products to the Canadian markets.