Direct Life & Pensions says it would “strongly consider” following the trend set by providers in outsourcing to India to enter new markets, believing India holds great opportunities for IFAs.
The comments follow sales and marketing manager Richard Verdin's recent visit to provider outsourcing centres in India, where he says savings of 40 to 50 per cent are being made on call-centre operations.
He was impressed by the skill level and English competence of the people working in the centres, saying that with two million graduates a year coming into the labour force and another 250,000 post-graduates, staff are highly qualified with good product knowledge. Verdin says the staff he saw were not exploited and were enjoying similar working conditions to UK staff.
From a company perspective, Verdin says DL&P believes there are opportunities in India and, while it would not “ship out” jobs from the UK to India, it would strongly consider using India for new ventures.
Verdin says: “I think there are opportunities out there for IFAs. With the rate at which you can expand and the cost base you can expand from, the opportunities are far greater from an Indian base than from a UK base.”
Sofa chairman and Informed Choice managing director Nick Bamford says: “If it is advice, it stays inside national boundaries most efficiently but if it is process, I think that can be outsourced effectively.”