Gerber Life Goes With MajescoMastek Platform
Two-year modernization initiative will overhaul all Gerber Life's lines of business.
Insurance Networking News, February 20, 2013
Gerber Life Insurance Co. has chosen the Elixir North America platform to administer all its lines of business. Elixer is a product of MajescoMastek, a provider of insurance software and IT Services to insurance carriers, and the U.S. subsidiary of Mastek Ltd. MajescoMastek also will provide a range of additional services to assist Gerber Life in its two-year transformation initiative to modernize its core policy administration processes.
MajescoMastek says the Elixir North America platform is able to administer all lines of business for group and individual on a single platform, and delivers new business and underwriting, policy issue and administration, policyholder services, billing and collections, reinstatements and terminations, claims, accounting and reinsurance. The platform has a PRASE rules engine, providing a library of life, health and annuity products, enabling product and process development capabilities.
Benefits include deployment of a fully modernized infrastructure; enhanced customer service; facilitation of real-time transactional events; improved speed-to-market for new products; implementation of an agile environment; optimization of business processes and improved market share, translating to revenue improvement and cost reduction; and increased contribution to its parent company, Nestlé Group, says MajescoMastek.
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