Zurich renews outsourcing deal with UK's Capita

Insurance group Zurich Financial Services has renewed its outsourcing arrangement with Capita, a UK-based provider of BPO services, for another 11 years from 2015 to 2026.

Under this new agreement, Capita will deliver operational services for Zurich's UK life business to support the development of Zurich Global Life's European and international administration hubs for a 15 year, effective 1 July.

Capita will provide customer servicing, policy administration and claims activity for much of Zurich's life business, for customers in Europe, the Middle East and internationally. According to Capita, the extension of the current contract, together with the new work over 15 years, will generate approximately GBP570m in revenues.

Proservartner Point of View: In Insurance BPO services, Capita have a market leading presence and the extension of the contract with Zurich is an important development for the company, especially given that this is an 11 year extension!

With a strategy of “buy” rather than “make”, Zurich Financial Services currently outsource work to CSC, Wipro, Cap Gemini and Capita for IT, F&A and Insurance Processing activities.