Royal Liver outsources for IFA move

Royal Liver Assurance has signed a 10-year outsourcing contract with Marlborough Stirling to support its entry into the financial...

Royal Liver Assurance has signed a 10-year outsourcing contract with Marlborough Stirling to support its entry into the financial adviser market.

Under the deal, valued at £25m, Marlborough Stirling will administer policies and claims for Royal Liver. It will also provide a portal, Exweb, to handle electronic quotes and business from independent financial advisers.

Royal Liver is due to launch a range of services for independent financial advisers in the autumn.

The financial services company will also have the first full implementation of Marlborough Stirling's Lamda business software, which offers straight-through processing from receipt of electronic new business applications through to the administration platform. The software will enable automated underwriting and acceptance of the majority of new business applications.

As the trend towards financial services outsourcing gathers pace, Barclaycard last week extended a £10m outsourcing contract with Xansa by three years.

The "joint venture", originally agreed in 2002, aims to produce £60m in savings. About 450 Barclays staff transferred to Xansa as part of the contract.

A number of financial services companies have signed joint venture deals with suppliers, particularly for administrative processes such as cheque processing.

Barclays and Lloyds TSB outsourced cheque processing to Unisys in 10-year joint venture, in which Unisys holds a 51% stake in subsidiary company Intelligent Processing Solutions.

Another bank to follow this trend is Abbey, which has a joint venture with supplier EDS to help process its mortgages and personal loans.

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