Capita Group has signed a 580m contract to become a strategic outsourcing partner of Resolution.
The deal will run over 12 years and involves Resolution’s closed and open books.
Capita will deliver customer services, IT services, policy servicing, claims and new business processing for around 4.5 million policyholders and future new business in the Phoenix Life Assurance, Scottish Mutual, Scottish Provident and Phoenix Life funds.
The deal includes the phased introduction of additional operating platforms supported by bespoke technologies to enhance selected legacy systems.
Resolution will transfer around 2,000 staff from its Glasgow and Wythall offices to Capita from August 1.
Capita chief executive Paul Pindar says: “Capita is delighted to engage in this strategic alliance with Resolution. With both companies having strong positions and growth strategies in the life and pensions market, our aim is to build a mutually beneficial partnership to support the future growth of both Resolution and Capita.”
Resolution group chief executive Mike Biggs says: “We chose Capita because we believe that they can best deliver a business transformation programme designed to increase the quality and dependability of our services to customers. In addition, they have experience of the particular needs of regulated financial product providers.”