MajescoMastek announces the introduction of its Elixir NorthAmerica Group Policy Administration System (Elixir Group). ElixirGroup provides insurers a technology platform to administer allannuity, health, and life insurance products for true group, listbill, and worksite offerings.

The system is offered through a traditional software licensingmodel or as a hosted solution to provide a variety of pricing anddelivery options to best suit each insurer's budget and operationalneeds.

With the introduction of Elixir Group, MajescoMastek claims itis the only software provider to offer both individual and grouppolicy administration systems for life, health, and annuityproducts that utilize a common technology platform.

Leveraging the same underlying technology and architecture asMajescoMastek's Elixir North America for individual life, health,and annuity products, Elixir Group offers the same systemreliability, flexibility and speed to market that Elixir users havecome to expect.

“With increasing competition and user demand in the groupmarket, insurers are focusing more and more on the need for robustand unique group products along with the technologies and systemsthat will enable them to respond most effectively,” says ErikStockwell, MajescoMastek's senior vice president. “We see atremendous window of opportunity with Elixir Group to offer theinsurance industry, especially the middle market which has had fewoptions to date, to make great inroads in the group and worksitesegments.”

Elixir North America Group Policy Administration Systemhighlights include:

• a client-centric view to enable policy administrationefficiencies and help identify and support up-selling andcross-selling opportunities;
• self service functionality for all stakeholders in theinsurance value chain (employers, employees, brokers, agents,insurance company personnel, etc.);
• unlimited insurance product features for riders or combinationproducts;
• straight through processing functionality from integratedenrollment through to claims;
• automated census input feeds;
• real time quotes; and
• distribution and commission management.