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Our Bureau

Mumbai , Feb. 10

MASTEK Ltd has signed a 10-year agreement with UK-based Capita Life & Pensions for its Elixir policy administration solution for an undisclosed amount.

Elixir is a sales and administration systems designed using component-based architecture. It addresses life, pensions and investment products with components that include new business, policy servicing, agency management, channel portal, investment dealing, claims, income drawdown and reassurance, said a news release from Mastek.

Elixir has played a key role in building a core proposition that can be adapted to low-cost, high-volume operations, said Mr Bob Puzey, IT Director at Capita Life & Pensions. "The license agreement with Mastek reflects our usage of Elixir as a platform of choice in a number of future operations."

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