ACORD/LOMA News Briefs: MajescoMastek Introduces New Insurance Carrier Software

By Anthony O'Donnell Senior Editor

Edison-N.J.-based MajescoMastek has released software the vendor says can cut by up to 50 percent the time it takes life insurance carriers and their producers to issue policies.The vendor's Elixir New Business/Underwriting 4.0 leverages straight-through processing to simplify and accelerate a carrier's new business underwriting process, according to MajescoMastek. The new release features a configurable underwriting rules engine and the ability to handle applications for all product lines and from all production channels, from agents and brokers to advisers and broker/dealers.