Wawanesa Life has selected MajescoMastek's (the U.S. subsidiary of Mumbai-based Mastek) Elixir as the Winnipeg-based insurer's new policy administration system for individual life insurance and annuity products.
Seeking to replace its current multiple legacy mainframe systems environment with a single, modern technology platform, Wawanesa chose the Elixir solution after an extensive review of available offerings, according to a vendor statement. Wawanesa saw Elixir as the best fit end-to-end platform available to meet the carrier's objectives of straight-through processing, reduced product development time and enhanced customer service, the MajescoMastek statement says.
"Our goal was to transform our individual life processing environment without compromising our service commitment to our brokers and policyholders," comments Mary Nemeth, COO, Wawanesa Life. "We needed a vendor that could provide the right solution and the right expertise to support us as we move forward with our goals, now and well into the future. We found the ideal combination of product, skill and commitment in the MajescoMastek team and the Elixir solution."
Wawansa Life expects Elixir to MajescoMastek Elixir to help the carrier administer individual life and annuity products on a single platform; automate current manual processes; quickly develop new products; lower its total cost of ownership for policy administration; and offer additional web service capabilities to agents and policyholders.
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio