Capita Life & Pensions renews outsourcing deal

Insurance group chooses to continue using its managed administration platform

Capita will continue outsourcing the platform, supporting all its product lines

Insurance group Capita Life & Pensions has extended its relationship with supplier Mastek for the provision of business process outsourcing (BPO) services.

Capita uses Mastek's Elixir software – an enterprise administration platform for life and pensions and investment companies, which integrates the front and back office, supporting all product lines including traditional life, health, unit-linked, annuities and pension products.

The deal – that follows the companies’ existing relationship which started in 2005 – includes support and maintenance for the system, which is used for new product launches as well as legacy migrations and consolidations.

"Having Elixir as part of our overall life and pensions BPO solution proposition gives Capita a real competitive advantage,” said Capita Life & Pensions managing director Steve Parkinson.

“Capita already administers a significant number of policies on Elixir on behalf of our customers, and with this new capability and expanded service arrangement, we are confident we can expand this to cover the majority of the 22 million policies we administer."