Sunday, April 8, 2007
UK Co-op Financial Services extends Xansa outsourcing deal
BlogOut provides regular, global outsourcing updates. See BlogOut Directory for the complete list of categories
See also the following for related categories: UK, Finance & Investment, Banking, Insurance, Europe
UK Co-op Financial Services extends Xansa outsourcing deal
Company announcement, Source: Xansa
Apr 2007
Co-operative Financial Services (CFS) and Xansa, the outsourcing and technology company, are pleased to announce that CFS is extending and expanding its outsourcing partnership with Xansa.
In a contract which could be worth up to £100 million over five years, Xansa will work with CFS to create a unified Application Development and Support (ADS) service across the whole of the business.
Xansa has been working in partnership with CFS since May 1994 when it signed a £22 million seven year agreement to develop and support the Co-operative Bank's applications. This contract was extended in May 1998 and again to May 2007. The new contract represents a broadening of the partnership to encompass the Insurance side of the business in addition to the current banking relationship. As at present, Xansa will provide the service from a blend of locations in the UK and India.
CFS currently faces the twin challenges of a highly competitive market place and an increasing regulatory environment. Creating the unified ADS service will enable CFS to respond to the regulatory pressures in a cost effective, timely manner. In addition the technology enabled business services will allow CFS to expand and enhance its product lines, improving speed to market and thereby respond quickly to competitive challenges. In selecting Xansa, CFS is able to build on the existing Banking service operation and carry out a fast-track transformation to a unified CFS-wide service.
Commenting on the announcement David Anderson, Chief Executive, Co-operative Financial Services, said: "Xansa has been successfully delivering to Co-operative Financial Services for 12 years. Their approach suits us well with their integrated delivery capability. This will support our business change agenda which is driving us towards the vision of becoming the UK's most admired Financial Services business.
"Xansa's commitment to the UK Retail Banking and Insurance sector means that they understand our market and regulatory environment. In addition Xansa's transformation expertise will enable us to create a best in class, unified application development and maintenance service under the controlling direction of our IS department."
Commenting on the announcement Alistair Cox, Chief Executive, Xansa said: "We are delighted that Co-operative Financial Services continues to choose Xansa as its partner for applications management, IS transformation and web based development. CFS represented Xansa's first ever financial services outsourcing contract and our second ever outsourcing deal, and this expansion and renewal is a clear endorsement of our excellent and longstanding relationship. It also demonstrates our commitment to long term relationships which means that CFS can count on Xansa to help deliver its vision for the future."
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See also the following for related categories: UK, Finance & Investment, Banking, Insurance, Europe
UK Co-op Financial Services extends Xansa outsourcing deal
Company announcement, Source: Xansa
Apr 2007
Co-operative Financial Services (CFS) and Xansa, the outsourcing and technology company, are pleased to announce that CFS is extending and expanding its outsourcing partnership with Xansa.
In a contract which could be worth up to £100 million over five years, Xansa will work with CFS to create a unified Application Development and Support (ADS) service across the whole of the business.
Xansa has been working in partnership with CFS since May 1994 when it signed a £22 million seven year agreement to develop and support the Co-operative Bank's applications. This contract was extended in May 1998 and again to May 2007. The new contract represents a broadening of the partnership to encompass the Insurance side of the business in addition to the current banking relationship. As at present, Xansa will provide the service from a blend of locations in the UK and India.
CFS currently faces the twin challenges of a highly competitive market place and an increasing regulatory environment. Creating the unified ADS service will enable CFS to respond to the regulatory pressures in a cost effective, timely manner. In addition the technology enabled business services will allow CFS to expand and enhance its product lines, improving speed to market and thereby respond quickly to competitive challenges. In selecting Xansa, CFS is able to build on the existing Banking service operation and carry out a fast-track transformation to a unified CFS-wide service.
Commenting on the announcement David Anderson, Chief Executive, Co-operative Financial Services, said: "Xansa has been successfully delivering to Co-operative Financial Services for 12 years. Their approach suits us well with their integrated delivery capability. This will support our business change agenda which is driving us towards the vision of becoming the UK's most admired Financial Services business.
"Xansa's commitment to the UK Retail Banking and Insurance sector means that they understand our market and regulatory environment. In addition Xansa's transformation expertise will enable us to create a best in class, unified application development and maintenance service under the controlling direction of our IS department."
Commenting on the announcement Alistair Cox, Chief Executive, Xansa said: "We are delighted that Co-operative Financial Services continues to choose Xansa as its partner for applications management, IS transformation and web based development. CFS represented Xansa's first ever financial services outsourcing contract and our second ever outsourcing deal, and this expansion and renewal is a clear endorsement of our excellent and longstanding relationship. It also demonstrates our commitment to long term relationships which means that CFS can count on Xansa to help deliver its vision for the future."
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Labels: banks, banks-uk, finance, finance-uk, insurance, insurance-uk, it-finance, it-finance-europe, it-finance-uk
PermaLink - UK Co-op Financial Services extends Xansa outsourcing deal posted by Ecacofonix : 12:59 PM
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Prospects bright for insurance telesales outsourcing in Thailand
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See also the following for related categories: Finance & Accounting, Insurance, Sales & Marketing, Asia
Prospects bright for telesales outsourcing
Charoen Kittikanya, Apr 7, 2007
Driven by growing demand for telemarketing, particularly in the insurance and finance businesses, Teledirect Telecommerce (Thailand) is looking to expand its business locally.
Teledirect provides outsourced call centres for outbound sales calls and customer relationship management. Its core telesales product is insurance. It currently provides services to four insurers and two consumer product firms.
Teledirect in Thailand employs 250 operators, and derives 95% of its revenue from telesales, mainly for insurance companies.
Read the full news report from here @ Bangkok Post
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See also the following for related categories: Finance & Accounting, Insurance, Sales & Marketing, Asia
Prospects bright for telesales outsourcing
Charoen Kittikanya, Apr 7, 2007
Driven by growing demand for telemarketing, particularly in the insurance and finance businesses, Teledirect Telecommerce (Thailand) is looking to expand its business locally.
Teledirect provides outsourced call centres for outbound sales calls and customer relationship management. Its core telesales product is insurance. It currently provides services to four insurers and two consumer product firms.
Teledirect in Thailand employs 250 operators, and derives 95% of its revenue from telesales, mainly for insurance companies.
Read the full news report from here @ Bangkok Post
Click on labels below for more posts for those categories.
Labels: call-centres-asia, finance-asia, insurance, insurance-asia, sales-marketing, telemarketing, thailand
PermaLink - Prospects bright for insurance telesales outsourcing in Thailand posted by Ecacofonix : 12:25 PM
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Thursday, March 29, 2007
Prudential Insurance cost-cutting threatens 3,000 UK jobs
Prudential Insurance cost-cutting threatens 3,000 UK jobs
15 Mar 2007
Prudential has today announced a 15 per cent profit increase, announcing plans to cut its costs further in moves which could affect around 3,000 jobs in the UK.
The insurance company said that the targets will be achieved through a combination of internal cost-cutting and an expansion of its offshore and outsourcing operations, with around 3,000 customer service and other jobs in the UK expected to be affected by the plans.
Read the full news report from here @ In the News, UK
BlogOut provides global outsourcing updates across industries & business functions. See BlogOut Directory for the complete list of categories
15 Mar 2007
Prudential has today announced a 15 per cent profit increase, announcing plans to cut its costs further in moves which could affect around 3,000 jobs in the UK.
The insurance company said that the targets will be achieved through a combination of internal cost-cutting and an expansion of its offshore and outsourcing operations, with around 3,000 customer service and other jobs in the UK expected to be affected by the plans.
Read the full news report from here @ In the News, UK
BlogOut provides global outsourcing updates across industries & business functions. See BlogOut Directory for the complete list of categories
Labels: costs, finance-offshore, finance-uk, insurance, insurance-europe, insurance-offshore, insurance-uk, uk
PermaLink - Prudential Insurance cost-cutting threatens 3,000 UK jobs posted by Ecacofonix : 4:25 AM
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Sunday, March 11, 2007
Prudential to cut up to 3,000 jobs in UK, might outsource
Prudential may cut up to 3,000 jobs in UK - report
AFX News Limited, 11 Mar 2007
LONDON (AFX) - Insurer Prudential PLC may cut up to 3,000 jobs in its UK business as part of plans to restructure the division, according to a report.
The group believes it can make huge savings by outsourcing the jobs of staff involved in running the back office operations of its UK closed funds to its Indian operation in Mumbai, the Sunday Times reported.
Read the full story from Forbes
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
AFX News Limited, 11 Mar 2007
LONDON (AFX) - Insurer Prudential PLC may cut up to 3,000 jobs in its UK business as part of plans to restructure the division, according to a report.
The group believes it can make huge savings by outsourcing the jobs of staff involved in running the back office operations of its UK closed funds to its Indian operation in Mumbai, the Sunday Times reported.
Read the full story from Forbes
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: back-office, back-office-insurance, back-office-uk, india, insurance, insurance-europe, insurance-india, insurance-uk, offshore
PermaLink - Prudential to cut up to 3,000 jobs in UK, might outsource posted by Ecacofonix : 10:35 AM
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Thursday, March 8, 2007
UK Insurer Norwich Union Signs Admin Outsourcing Deal to Rationalise Systems
Norwich Union signs admin outsourcing deal in move to rationalise systems
Mar 07, 2007
Norwich Union Life has signed an agreement to outsource the administration of almost 3m life and pension policies to Swiss Re. The UK insurer will start the decommissioning of 220 of its 550 product systems in October 2007. The outsourcing deal will see 1,000 Norwich Union staff transferred to Swiss Re, but customers, policies and funds will still be managed by Norwich Union.
More details here from Computer World UK
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Mar 07, 2007
Norwich Union Life has signed an agreement to outsource the administration of almost 3m life and pension policies to Swiss Re. The UK insurer will start the decommissioning of 220 of its 550 product systems in October 2007. The outsourcing deal will see 1,000 Norwich Union staff transferred to Swiss Re, but customers, policies and funds will still be managed by Norwich Union.
More details here from Computer World UK
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: administration-insurance, finance, finance-europe, finance-uk, insurance, insurance-europe, insurance-uk, it-finance, it-finance-europe, it-finance-uk, it-insurance, it-insurance-uk, uk
PermaLink - UK Insurer Norwich Union Signs Admin Outsourcing Deal to Rationalise Systems posted by Ecacofonix : 7:30 PM
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Fireman’s Fund Adopts Accenture’s Claims Processing Technology
Fireman’s Fund Adopts Accenture’s Claims Processing Technology
Press release
New York - Fireman's Fund Insurance Company has selected Accenture technology for processing its insurance claims. The newly upgraded technology solution will handle all claims submitted to Fireman’s Fund® under its commercial, personal and specialty lines.
The Accenture Claim Components Solution is a Web-based technology designed to help insurers improve the efficiency of their claims-handling operations through the automation of routine tasks. At Fireman’s Fund, the solution supports core claims transactions from first notification of loss through closure of the claim. It integrates with a full range of claims interfaces.
Fireman's Fund Insurance Company is a premier property and casualty insurance company providing personal, commercial and specialty insurance products nationwide.
Read full press release here from DBusiness News, Feb 07, 2007
Press release
New York - Fireman's Fund Insurance Company has selected Accenture technology for processing its insurance claims. The newly upgraded technology solution will handle all claims submitted to Fireman’s Fund® under its commercial, personal and specialty lines.
The Accenture Claim Components Solution is a Web-based technology designed to help insurers improve the efficiency of their claims-handling operations through the automation of routine tasks. At Fireman’s Fund, the solution supports core claims transactions from first notification of loss through closure of the claim. It integrates with a full range of claims interfaces.
Fireman's Fund Insurance Company is a premier property and casualty insurance company providing personal, commercial and specialty insurance products nationwide.
Read full press release here from DBusiness News, Feb 07, 2007
Labels: claims-processing, finance, finance-usa, insurance, insurance-usa, it-finance, it-insurance
PermaLink - Fireman’s Fund Adopts Accenture’s Claims Processing Technology posted by Ecacofonix : 1:22 AM
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Adaptis to Offer Subrogation Services Through SOCRATES INC.
Adaptis to Offer Subrogation Services Through SOCRATES INC. - Press release
Strategic Partnership Broadens Service Portfolio and Provides Added Cost Savings for Clients
SEATTLE, March 5, 2007 /PRNewswire/ -- Adaptis, a leading provider of Business Process Integration solutions for health payors, today announced that it signed a strategic partnership with Pittsburgh, PA-based SOCRATES, INC., a privately-held subrogation company exclusively focused on the health payor industry. As part of the agreement, Adaptis will expand its claims processing services post claims adjudication with optional subrogation services. The proprietary SOCRATES(R) system and MY SOCRATES(R) family of software products provide the unique ability to seamlessly import, filter, scrub, identify and fully review, track and manage subrogation case files based upon unique claims diagnosis codes or threshold dollar amounts. Direct legal affiliation assists recovery processes, with client satisfaction assured through Adaptis' account management oversight, providing seamless integration.
Labels: claims-processing, healthcare, insurance, law, law-healthcare
PermaLink - Adaptis to Offer Subrogation Services Through SOCRATES INC. posted by Ecacofonix : 1:15 AM
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