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Widows, CGU, Clerical win Misys panel places

Super-network Misys has drawn up a list for its stakeholder panel with

life offices Scottish Widows, CGU and Clerical Medical winning the much

sought after places.

The panel will initially run with three members but two to five other

places are believed to be up for grabs in the near future.

Life offices which are said to be vying for the positionsare Standard

Life, Axa, Friends Provident, Scottish Amicable and Scottish Equitable.

Misys has settled on the life offices after listening to stakeholder

presentations from a short list of 10 prod-uct providers.

Industry sources say Misys has demanded better commission terms on a range

of products and differential pricing with terms set out for both IFAs and

the network.

Product providers which have missed out includeLegal & General and

Scot-tish Mutual.

One life office insider says: “Those who have not been included would not

play the commission ball.”

Another says: “It was critical to get on the panel as it will determine

the group pension panels subsequently.”

Misys IFA Services head of marketing Andrew Bedford says: “We chose the

providers on a number of factors, including financial strength, technology

and the ability toprovide training.”

The panel will give participating life offices access to more than 4,000

registered individuals.

Misys will work with the panel over the next year so it can “hit the

ground running” when stakeholder is launched in April 2001. It says it will

make a formal announce-ment on the panel to members on Friday.


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