Mastek and its U.S. subsidiary MajescoMastek (New York) have announced new customers of the vendor's billing and policy administration solutions. Tokio Marine Management (TMM, New York) has gone live on the vendor's billing product, and Ocean Life Insurance Company Ltd. (Bankok) has selected Mastek's ElixirAsia enterprise policy administration.

TMM's implementation of its Commercial Lines Billing system based on MajescoMastek's STG Billing, streamlines the billing process, increasing time and cost efficiencies for the company and its clients, MajescoMastek reports. Additionally, the new custom billing platform will provide additional capabilities, such as Agency Billing for the company, the vendor says.

"We recognized the need to implement a comprehensive insurance solution to decrease cost and improve performance," comments Fred Danback, CIO of TMM. "We cast a wide-net to find solutions providers who could help transform our current system and MajescoMastek had both the knowledge and capabilities to complete this complicated process."

Ocean Life Insurance's (OLIC) implementation of Mastek's ElixirAsia will cover all lines of business, including individual and group life, according to a Mastek news release. This implementation will enable OLIC to address some critical business issues, enhance operational efficiency, and noticeably improve the manner in which it manages customer relationships, according to the vendor source. Consequently, Mastek says, the vendor will partner in OLIC's overall long-term growth strategy.

"Mastek's ElixirAsia offers us a proven and functionally rich platform that addresses our needs. This, coupled with their expertise in the Insurance technology domain, made us choose Mastek. We are certain that with this implementation, we will not only be able to serve our customers better but also be empowered to implement our growth strategy effectively," says Nusara Banyatpiyaphod, president, Ocean Life Insurance.


Source- Insurancetech.com

Tweet