New York NY, January 17, 2011 – Mastek (NSE: MASTEK), the global technology solutions provider Mastek Limited, today announced that Elixir Distribution Management, their channel management system, received a “Positive” rating from Gartner, Inc’s MarketScope* report. 

Mastek believes Gartner’s recognition of its improved distribution management system reflects enhanced capabilities including licensing and appointment processing, compensation calculations, reporting and analytics, workflow management and correspondence.  Utilizing a service-oriented architecture (SOA) in combination with an industry-standard rules engine has increased usability and flexibility, providing end-users with maximum control over even the most complex rules.

 
“Mastek is pleased by Gartner’s decision to recognize Elixir Distribution Management among some of our most esteemed peers,” said Mrinal Sattawala, Group President of Mastek.  “We feel the rating rightly reflects our commitment to deliver innovative and effective solutions to the insurance industry”

Mastek’s channel management solutions has been successfully implemented by 12 clients globally covering individual, group life and health insurance lines of business. Elixir Distribution Management (EDM), the next generation channel management system is a single integrated solution that encompasses all the tools insurers need to manage distribution as an end to end process. EDM includes agent administration, compensation management, the performance manager and an agent portal thus managing distribution from the enterprise level down to an individual agent. In addition to its recent augmentations, Mastek plans to include a browser-based portal component for agents, brokers and other intermediaries to maximize self-servicing capabilities.

“We are proud that Elixir’s international capabilities are being recognized,” continued Mrinal Sattawala.  “Providing an effective service that is tailored to each insurer’s region is essential for successful management.  Mastek remains committed to the development of innovative solutions that can be utilized with minimal time and cost.”

*Gartner, Inc., MarketScope for Insurance Incentive Compensation Management Applications, Steven Leigh, December 11, 2010.

About the Gartner MarketScope
The MarketScope is copyrighted 2010 by Gartner, Inc. and is reused with permission. The MarketScope is an evaluation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the MarketScope, and does not advise technology users to select only those vendors with the highest rating. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Mastek
Mastek is a global provider of innovative technology solutions focused on Life & Annuity carriers, Property & Casualty carriers, Capital Market firms, and the public sector. For over 28 years, we have combined our leading products, people, and processes to drive business impact and competitive advantage. Mastek enables technology enabled business transformation and has a track record of successful implementations.

Mastek uniquely combines its wide intellectual property base, domain expertise, mission-critical program management abilities and complex solutions capabilities to help insurance carriers unlock business value. Mastek delivers proven solutions in core insurance areas including Incentive compensation, producer lifecycle management, billing, policy administration, new business processing and claims. Mastek has over 3300 employees and offices across the globe.

For more information, please visit us on the Web at www.mastek.com, or call 1 800 249 9540