Tuesday, 14 June 2011

Solvency II - Outsourcing Policy test

A pretty monumental announcement from Zurich and Capita today about outsourcing pretty much all back office for the next 10 years. Not sure exactly where the Zurich lads are with equivalence etc, but this contract is a mighty test of the quality of their outsourcing policy wording, Solvency II aside!

In addition, as I had blogged earlier, there is an interesting angle on VAT-able services for Insurance administration which may make claims administration etc more expensive for companies who "in-source", so these kinds of deals could circumnavigate that possibility.

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