Capita has picked up the contract to deliver Co-Operative Insurance Services business processing around 5m new policies.
The new business win sees Capita now processing between 13m and 14m policies under administration.
Capita will deliver customer services, policy administration, new business and claims activities and their associated technologies across CIS’s life and pensions and unit trust operations.
It will also be providing a platform to enhance CIS’s new product development.
The contract negotiations are in progress and are expected to commence later in 2007. The contract is expected to be worth in excess of £250m over a 10 year period.
Any resultant arrangement will be subject to FSA approval.
Capita chief executive Paul Pindar says: “We are delighted to have been
selected by CIS as their preferred business partner. The proposed partnership
will draw upon Capita’s expertise across both the life & pensions and unit trust administration markets. Our integrated operating infrastructure will not only deliver further cost and quality benefits alongside enhanced customer service, but will also provide a flexible platform for CIS’s current and new business.
“The work will continue to be delivered from CIS’s existing central Manchester base and builds on Capita’s commitment to North West England. We look forward to fine tuning the partnership with CIS over the next few months and welcoming all staff who transfer to Capita.”