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Largest-of-Its-Kind Deal Confirms TPI as United Kingdom Insurance Market Leader
TPI, the largest sourcing advisory firm and a unit of Information Services Group, Inc. (ISG) (NASDAQ:III), a leader in the information-based services industry, announced today that it advised Prudential UK, a leading life and pensions provider in the UK, in the conclusion of a $1.5 billion business process outsourcing (BPO) transaction with Capita Group Plc (Capita), the United Kingdom’s leading provider of integrated professional support service solutions. The agreement involves the delivery of life and pension sales and administration services during a 15-year period.
TPI is the global leader and the advisor of choice in the UK for life and pensions and broader insurance related engagements. A transaction of the magnitude of Prudential is particularly significant as sourcing transactions have generally tended toward smaller sizes and shorter durations over the past several years according to TPI’s quarterly index.
“This agreement represents a milestone for both Prudential UK and Capita, further cementing Capita’s position as the market leader in insurance BPO processing in the United Kingdom and serving as a critical component of Prudential UK’s ongoing transformation program,” said John Keppel, partner, Global Financial Services, TPI. “The UK Life Insurance industry continues to lead in the adoption of new business models to compete and win in this competitive, complex and highly regulated environment and TPI is pleased to be able to play an important role”
Prudential UK and Capita began working together in 2003. Building upon Prudential UK and Capita’s existing relationship, this new transaction includes the provision of Prudential UK’s Life Insurance Intermediary Administration Services, the transfer of over 3000 employees in the UK and India, and the sale of Prudential UK’s Mumbai-based captive operation.
“TPI provided us valuable advice through a very important and sensitive process for Prudential UK”, said Gary Shaughnessy, MD Retail Life and Pensions. “By running a streamlined and detailed process to identify the right service provider, developing and negotiating a contract and counseling us through transition, TPI has enabled Prudential UK to enter into a cost effective, efficient and truly strategic outsourcing partnership.”
“We thought the TPI team added a great deal of value through the experience they brought to bear and their commitment to securing the right outcomes for Prudential UK, said Tulsi Naidu, Director of Mature Life and Pensions. “We were very pleased to have been referred to TPI.”
TPI, a unit of Information Services Group, Inc. (ISG) (NASDAQ:III) is the founder and innovator of the sourcing advisory industry, and the largest sourcing advisory firm in the world. We are expert at a broad range of business support functions and related research methodologies. Utilizing deep functional domain expertise and extensive practical experience, TPI’s accomplished industry experts collaborate with organizations to help them advance their business operations through the best combination of business process improvement, shared services, outsourcing and offshoring. For additional information, visit www.tpi.net.
About Information Services Group, Inc
Information Services Group, Inc. (ISG) was founded in 2006 to build an industry-leading, high-growth, information-based services company by acquiring and growing businesses in advisory, data, business and media information services. In November 2007, the company acquired TPI, the largest independent sourcing advisory firm in the world. Based in Stamford, Conn., ISG has a proven leadership team with global experience in information-based services and a track record of creating significant value for shareowners, clients and employees. For more, visit www.informationsg.com.