Marlborough Stirling, a leading provider of software and services to the mortgage, life and pensions and investment market sectors, has formed an alliance with Sanlam, one of the largest financial services groups in South Africa. The alliance means that Marlborough Stirling can provide life and pensions companies with a premium quality, offshore, IT and administration outsourcing service. Capable of administering a wide range of life and pension products, the service is targeted primarily at the UK and European markets.
Life and pensions companies who look to outsource their IT and administration to Marlborough Stirling now have two options. They can either choose Marlborough Stirling Administration (MSA), Marlborough Stirling`s competitively priced, market leading UK-based outsourcing service. Or they can agree to let Marlborough Stirling sub-contract the service to Sanlam, its partner in South Africa, for around 80% of the cost currently charged by Marlborough Stirling for the same service.
Sanlam went live on Marlborough Stirling`s Lamda life and pensions administration solution in October 1999 and currently writes around 50% of its South African new business on the system. The company has an existing portfolio of over three and a half million policies, which it administers at a low cost due to its efficient processes, use of technology, and South African employment costs. It can offer an identical premium quality service to that provided by MSA in the UK.
As Sanlam is based in South Africa it works broadly the same hours as the UK and, of course, its employees are English speaking. This combined with Sanlam`s technology infrastructure means that customers can be serviced efficiently, regardless of their location.
MSA will remain responsible for the distribution and sales of the service, as well as the customisation, implementation and maintenance of the administrative platform and the management of all client relationships. Certain tasks such as document scanning, imaging and letter creation will also be carried out by MSA in the UK.
Dave Power, consultancy services director at Marlborough Stirling, commented: "Marlborough Stirling already offers a keenly competitive outsourcing service in the UK and will continue to do so for those wishing to keep their outsourcing service local. This alliance with Sanlam provides clients with an offshore option. That means they have access to the same premium quality outsourcing service but at a lower cost. The only difference is that they will be serviced from South Africa. All life and pensions companies need to cut costs in order to compete in the sub 1% world, so I am sure many will find this proposition highly attractive."
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