Insurance group Zurich Financial Services has renewed its outsourcing arrangement with Capita, a UK-based provider of BPO services, for another 11years 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.
Under the terms of the agreement around 400 employees from Zurich will transfer to Capita.