Overview
Majesco Life AdminPlus is a highly flexible, scalable, web-based policy administration SaaS solution for the life, pensions, annuities, and wealth management sectors that supports the full policy lifecycle.
Majesco Life AdminPlus has been designed to support multi-channel distribution, B2B & B2C, end- to-end sales and service processing. Its open and modern Service Oriented Architecture allows for easy integration to external third party and/or proprietary systems.
Majesco Life AdminPlus supports all aspects of the policy lifecycle from quotation to policy issue, policy servicing and right through to payment of a claim or policy expiry.
Key Features
The main features of Majesco Life AdminPlus are:
- Configuration through Product Development Application
- Regular premium processing
- Online illustrations, projections and valuations
- New business
- Straight Through Processing
- Policy issue
- Pipeline management
- Minor and major alterations
- Client changes
- Premium increases / decreases
- Single premium top-ups
- Scheduled transaction processing
- No batch window
- Fund / Unit movements
- Withdrawals, Annuities and claims – Payments including one-off claim, annuity payment or withdrawals.
- Document manager
- Single customer identifier – customer centric.
- Modern Service Oriented Architecture (SOA)
Key Benefits
Benefits of Majesco Life AdminPlus include:
- Speed to market for new products – by configuring new products using the Exaxe industry leading Product Development Application (PDA).
- Flexibility – to launch and amend new products / variants as required for new and existing business.
- Reduced administrative costs – Straight Through Processing (STP).
- Improved customer service – faster turnaround, reduced errors, and improved data quality. Allows access by your customers and IFA’s to enquiry and self-service transactions.
- Greater visibility & control for managers
- Rapid implementation – can take as little as 20 weeks to implement.
- Cost and process efficiency – reduced transaction costs and greater process efficiencies by reducing manual processes and duplicate data entry.
- Ease of integration with third party systems
