NEW YORK, N.Y. – Feb. 24, 2009 – MajescoMastek, the U.S. subsidiary of global technology solutions provider Mastek (NSE: MASTEK) announced the launch of Elixir Distribution Management (EDM), its next-generation distribution management solution for life & annuity insurance carriers in North America. A primary component of the Elixir Suite of products - the company's flagship line for the insurance industry - EDM is a standalone system that allows a carrier to manage the entire distribution landscape.
Rad Sundar, Founder Director of Mastek and Head of Insurance, said, "This enhanced offering is an extension of our very successful Elixir Channel Management Solution. New customers will benefit from the company's continuous investment in research and development and best practices for the insurance community."
According to Harold Apple, SVP, MajescoMastek, "Elixir Distribution Management is a proven solution which has been successfully implemented in six countries by 11 global insurance companies with more than 15 million policies and 300,000 producers worldwide. This product strengthens our position as an innovative IT solutions provider to the North American insurance industry."
EDM's Producer Life Cycle Manager, Compensation Manager, Performance Manager and Producer Portal form an end-to-end; comprehensive system that oversees diverse channels and administers producers from registration to termination.
A single, integrated flexible solution to all distribution challenges, EDM's ability to design and run flexible compensation programs helps align compensation plans to business strategy. It helps identify top-performing producers and assure higher levels of service.