Capita has been assigned to deliver business processing services to Co-operative Insurance, part of Co-operative Financial Services today in a 10 year deal worth over £270m.
Capita will provide customer services, policy administration, new business, claims activities and the associated technology for around 4.5m policies across CIS’s life and pensions and unit trust operations.
Capita will also be providing a platform to enhance CIS’s new product development.
Capita and CFS first announced this deal in November 2006 at the ‘preferred
business partner’ stage with an estimated value, at that time, of £250m.
More than 800 staff will transfer to Capita under TUPE terms on 19 November.
Capita chief executive Paul Pindar says: “This partnership will draw upon Capita’s expertise across both the life and pensions and unit trust administration markets through both Capita Life & Pensions and Capita Financial Group.
“An integrated operating infrastructure will deliver cost and quality benefits alongside enhanced customer service and provide a flexible platform for CIS’s current and new business. The work will continue to be delivered from a
central Manchester base and builds on Capita’s commitment to North West England. We look forward to welcoming all staff who transfer to Capita.”
David Anderson, Chief Executive of Co-operative Financial Services (CFS), said:
‘I am confident that this partnership with Capita will provide our staff with
increased opportunity for future development within a number of different
sectors. Over the last three years, the change programme undertaken within CIS
has delivered significant customer and business benefits ahead of schedule.
This partnership with Capita is yet another way of transforming the way in which
we do business and ensuring that our customer service continues to be world