Insurance policy administration firm Capita Life & Pensions is to develop IT applications overseas to cut costs after signing a five year contract with Steria, which will provide the offshore development services.
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Capita provides insurance firms with outsourcing services to support front and back-office processes. The five year deal with IT outsourcing service provider Steria will give Capita offshore capabilities and help reduce costs.
"Our overall objective was to manage our IT expenditure, so that we could offer our clients the most cost effective service possible", said Craig Rodgerson, IT director at Capita Life & Pensions.
Offshore IT services are in demandas businesses attempt to reduce costs. Service providers that do not have an offshore presence have to find ways of providing these services without building them from scratch.