MajescoMastek announces the introduction of its Elixir North America Group Policy Administration System (Elixir Group). Elixir Group provides insurers a technology platform to administer all annuity, health, and life insurance products for true group, list bill, and worksite offerings. 

The system is offered through a traditional software licensing model or as a hosted solution to provide a variety of pricing and delivery options to best suit each insurer's budget and operational needs.

With the introduction of Elixir Group, MajescoMastek claims it is the only software provider to offer both individual and group policy administration systems for life, health, and annuity products that utilize a common technology platform. 

Leveraging the same underlying technology and architecture as MajescoMastek's Elixir North America for individual life, health, and annuity products, Elixir Group offers the same system reliability, flexibility and speed to market that Elixir users have come to expect.

"With increasing competition and user demand in the group market, insurers are focusing more and more on the need for robust and unique group products along with the technologies and systems that will enable them to respond most effectively," says Erik Stockwell, MajescoMastek's senior vice president.  "We see a tremendous window of opportunity with Elixir Group to offer the insurance industry, especially the middle market which has had few options to date, to make great inroads in the group and worksite segments."

Elixir North America Group Policy Administration System highlights include:

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