Edison, New Jersey-based MajescoMastek develops IP-centric applications and has picked up Vector Insurance Services, a specialist provider of hosted policy acquisition, administration and processing applications to the North American life and annuity insurance sector branded as Elixir.
Despite its size – a mere 25 employees – Vector boasts an impressive roster of clients including some of the largest insurers in North America.
Vector’s hosted application services will now be re-branded as VectorMask.
MajescoMastek is part of Mastek, a $156m publicly held IT firm founded in 1982 that focuses on the insurance, government, and financial services sectors. The company’s principal offshore delivery facility is located in Mumbai, India, with offices scattered across the US, Europe, and Asia Pacific. Vector’ will adds to Matsek’s 5,000-odd employees.
Mastek’s flagship Elixir applications suite includes modules for incentive compensation management, new business and underwriting, policy administration, and claims management.
