Standard Life promotes IT as investments pay off

Standard Life, which announced an annual profit of £919m this week, will continue to cut costs through IT efficiencies, as technology moves up the corporate agenda

Standard Life, which announced an annual profit of £919m this week, will continue to cut costs through IT efficiencies, as technology moves up the corporate agenda at the Edinburgh-based insurance company.

Standard Life has appointed Christian Torkington as IT and operations director, in a move that gives the IT head more influence at a corporate level.

"This is an executive position, whereas the previous head of IT was not," said a company spokeswoman.

Strategies to automate processes and outsource software development have helped the company cut costs by £47m in 2009.

The spokeswoman said a large part of these savings come from Standard Life's software development agreement with Indian supplier L&T Infotech.

The company has also announced a doubling of investment to £200m, and IT will be a major beneficiary.

Torkington was previously COO at RSA Insurance Group and has held senior operational, IT and risk roles within Scottish Widows and Barclays Bank.

Standard Life recognises the strategic importance of IT >>

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