Capita Group has captured a 270m-pound ($540m) business process outsourcing deal with Co-operative Financial Services division CIS.
Over the next 10 years, Capita will provide administration services around CIS’s life and pensions and unit trust operations, including customer services, policy processing, and new business and claims activities.
Capita said it had been awarded preferred bidder status on the deal back in November 2006, and the actual deal size has actually risen slightly from its original estimate of 250m pounds ($500m).
Over 800 staff will transfer to Capita on November 19. Capita’s chief executive said that the vendor would continue to support the contract from a center in Manchester.