London — Marsh Ltd., the London-based subsidiary of the New York-based brokerage, has signed a deal to outsource its back office functions.
Marsh signed a 10-year contract worth $371 million with London-based The Capita Group Plc, a provider of business process outsourcing services. Under the agreement, Capita will provide support and processing services to enhance Marsh's brokering activities to clients across its multinational business. Marsh's UK operations are based in Norwich with some offshored services delivered by an external provider in India. Captia has other insurance clients including Prudential UK.
Approximately 600 Marsh employees will transfer to Capita and the current offshored work will be transferred to Capita's new offshore facility in Pune, India. When service commences on July 1, Capita will undertake a comprehensive transformation program to enhance its service provision to Marsh and its clients while delivering significant reductions in operational transaction costs, the companies say.
Alongside this service transformation, Capita will create a center of excellence for insurance outsourcing services based in Marsh's existing Norwich premises. The capacity and capability within this center will primarily be used to transform Marsh's UK operations, the companies say. Over time, options to utilize this facility for other Marsh and Capita insurance activities will be considered.
Source: Capita Group Plc
