MajescoMastek, a software solutions and integration service provider, introduced an enterprise service-oriented architecture (SOA) platform for life and annuity companies in the North American marketplace called Elixir 2006. The product enables life and annuity carriers to comply with industry standards, and to deliver the right products to market quickly, efficiently, securely and economically.

"Offering a functionally rich enterprise platform and a component framework to support SOA is unique to the marketplace," says Vijay Chavan, MajesoMastek worldwide head of insurance and financial services verticals for MajescoMastek. "Elixir addresses the problem that most large insurance companies face of numerous application frameworks sitting on top of each other. Service-oriented architecture helps bring older legacy systems into today's modern, Web-based world."

Designed specifically by MajescoMastek for the insurance industry, Elixir can integrate the front office with the back office. Components include point of sale distribution, channel portal, channel compensation, and claims processing.