AEGON and Serco agree UK outsourcing partnership
by Gill Montia
Story link: AEGON and Serco agree UK outsourcing partnership
Outsourcing group, Serco, and life and pensions provider, AEGON, are in the process of finalising a 10-year partnership whereby Serco will provide a range of customer contact and support services for AEGON’s UK-based protection business.
Expected to start in the final quarter of 2012, the deal marks Serco’s entry into this particular segment of the UK financial services market.
Under the agreement, Serco will operate primarily from AEGON’s offices in Lytham St Annes, where it plans to establish a centre of excellence following the transfer of some 330 staff.
Serco will then deliver a wide range of life and pensions services for AEGON including managing all aspects of the customer journey from initial underwriting through to claims management.
The group will also look after all aspects of policy servicing and claims for some small closed books of pension and life assurance policies.
Adrian Grace, UK chief executive officer of AEGON comments: “We remain committed to building our UK business focusing on our chosen markets of workplace savings and at-retirement, of which our individual protection business is a core part.”