Prudential UK has signed a three-year £40m outsourcing contract with the Capita Group to deliver a range of life and pension sales and administration services.
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The business process outsourcing (BPO) contract builds on Capita's existing relationship with Prudential. Capita has been providing a full range of life and pensions administration services for Prudential's international cross border life assurance portfolio of new and existing business since 2003.
Under the new agreement, Capita will deliver end-to-end support for Prudential's UK life and pensions operations.
Approximately 450 staff working in Prudential's customer services, PruDirect (direct-to-consumer) and support services operations in Belfast will transfer to Capita as part of the deal in the early autumn.
The agreement further strengthens Capita's presence in Belfast, where it already provides services for the BBC and the Northern Ireland Civil Service.
Nick Prettejohn, chief executive of Prudential UK, said, “This has been a very difficult time for all our staff in Belfast, but throughout this period they have continued to provide an excellent service to our customers.
“This outsourcing agreement helps provide them with continued employment and enables us to maintain the highest standards of customer service, while delivering the efficiencies and cost savings we announced earlier in the year.”
Prudential's Belfast operation currently handles a range of services including death claims, matured and surrendered policies, and general UK customer support.
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