Reading/London - UK, 25 October 2010: Mastek UK, a global technology solutions provider to insurance, public sector and financial service organisations worldwide, today announced the launch of Elixir for Retail Distribution (ERD).  This offering provides an insurance sales support platform specifically targeted at supporting companies in the run up to, and post, Retail Distribution Review (RDR) landscape.

Building on Mastek’s existing Elixir platform, this modular product solution will help position life assurance providers to comply with the regulatory changes instigated by the RDR1.

ERD will enable users to meet new standards by providing coherent, centralised support for the management of multiple channels to market and supporting the payment of Adviser Charging according to clients and advisers’ instructions.

Mastek’s offering is fully integrated with focus:360°, the market leading multi-channel distribution solution from Focus Solutions, an established and proven supplier of enterprise solutions to the global financial services industry.  Earlier this year Mastek became Focus Solutions’ systems integrator for direct engagements with clients, and ERD demonstrates how focus:360° dovetails perfectly with the Elixir platform to deliver powerful, integrated front and back-office solutions to the market without the associated integration costs.

Furthermore, ERD combines a range of modules including distribution channel creation and management, adviser to client point-of-sale technology, customer relationship management, adviser performance monitoring and product administration support.

Ralph Tucker, Head of Propositions, Mastek UK, said: “The Retail Distribution Review will bring fundamental changes in the way that consumers research and buy financial products. Determining how they want to pay for intermediaries’ advice will be a key decision for the public in this new world.

“Those providers who will be well positioned to succeed in the post-RDR environment will have to ensure their systems are both legislatively compliant and relevant for the customers they serve.”

Ralph Tucker added: “Many providers are reliant upon aging legacy systems which undermine their financial and operational efficiency. Elixir for Retail Distribution offers them a strategic base from which they can boost sales revenues and enhance profit margins without facing the pain of expensive and complex system implementation and integration.

“We’ve ensured that this product is flexible and allows customers to future-proof their business. The regulatory transformation of the financial services industry is far from complete. We recognise our responsibility as an industry partner to account for this”.

The ERD will also play a key role in allowing providers to tackle the challenge of engaging with the expected rise in orphan clients in the post-RDR environment. Providers are likely to wish to build direct relationships with consumers in this category i.e. those who dealt previously with intermediaries, but are no longer actively serviced by this segment.

Richard Stevenson, Chief Executive, Focus Solutions said: “We are delighted that Mastek has chosen focus:360° as their multi-channel distribution platform front-ending their modular Elixir policy administration platform.

focus:360° in conjunction with Elixir will support organisations as they transition their business models as part of the RDR and will allow them to easily and cost effectively take advantage of new distribution channels from a single platform.  Focus:360 can easily be configured to overlay specific customer journeys rather than bespoking solutions to support each channel which is the real USP of the technology helping to fast track projects.    .

Ralph Tucker concluded: “Engaging directly with orphan clients is an excellent opportunity for providers. However, the logistical and systems challenges of delivering services to these consumers shouldn’t be underestimated.

“Even if orphan clients can be identified successfully, collating their data on one platform will be a significant task, as will untangling them from previous adviser relationships. ERD has the potential to support them in managing the change in relationship and providing an ongoing servicing platform for this client segment.”


The Retail Distribution Review (RDR) was launched in June 2006 by the FSA to redefine the distribution landscape for the investment, life and pensions industry both for the benefit of consumers as well as for product providers and advisers.

About Mastek
Mastek is a publicly held (NSE: MASTEK; BSE: 523704) leading IT player with global operations providing enterprise solutions to insurance, government, and financial services organizations worldwide. With its principal offshore delivery facility based at Mumbai, India, Mastek operates across US, Europe, and Asia Pacific regions. Incorporated in 1982, Mastek has been in the forefront of technology, which along with proven methodologies and processes, increase IT value generation to its customers through onsite and offshore deliveries.

For further information on Mastek and/or Elixir for Retail Distribution: http://www.mastek.co.uk/solutions/retail-distribution-review.html

About Focus Solutions Group plc

Focus Solutions is an established and proven supplier of multi-channel distribution solutions to the global financial services industry.

Focus has delivered over 100 complex front office projects with multiple integration points and partners to a blue chip client base including 8 out of the top 10 UK Life & Pension providers, a number of leading bancassurers including the likes of HSBC and Irish Life, significant wealth management players such as St James's Place and a number of mortgage providers.  The technology truly enables straight through processing whilst providing an engaging client and adviser experience to submit and service business electronically. 

For further information on Focus, please visit www.focus-solutions.co.uk


For Further Information:

Weber Shandwick Financial
James Page on 020 7067 0206 or www.focus-solutions.co.uk
Oliver Levy on 020 7067 0734 or olevy@webershandwick.com