A three-year IT investment programme at insurance firm Royal & SunAlliance has allowed it to press ahead with plans to cut £130m costs from the business, including the loss of 1,000 jobs in the UK.
A company spokeswoman said, “New systems coming on stream within the business make us confident we can make the efficiency savings we have talked about.” As part of the rationalisation Royal & SunAlliance will look to retire some legacy applications, she said.
IT has played a crucial role in helping the insurer grow its online activities. MoreThan, the firm’s online insurance arm, is now second in the market. “Technology is a big factor in getting this far and we see it as central to growth going forward,” said the spokeswoman.
This was first published in June 2006