Mastek scouts for partner in US for EDM Solution

Mastek, a leading IT solutions player, is scouting for a partner in the US for its Elixir Distribution Management (EDM) Solution which was launched today, a top company official said.

Elixir Distribution Management is the company's next-generation distribution management solution for life and annuity insurance carriers in the Indian and US markets.

"We are looking at a partnership in the US for our Elixir Distribution Management, similar to that of our partnership with Capita in the UK," Mastek's Chairman and Managing Director Sudhakar Ram told reporters here today.

The US is the largest insurance market in the world.

"This product strengthens our position as an innovative IT solutions provider to the US insurance industry," Ram said, adding that the entire market for EDM solution is estimated at $10-billion.

Mastek had earlier signed an agreement with Capita Life and Pensions, UK, where Capita uses Masteks insurance solution Elixir to provide services to its insurance clients.

The company is hopeful of earning major revenues from the US market and become among the top 3 players in the world in insurance solution.