SERCO SIGNS 10 YEAR OUTSOURCING PARTNERSHIP WITH AEGON

Serco’s global BPO business has confirmed it has signed a major ten-year contract with leading life assurance and pensions provider AEGON, valued at around £170m. This new outsourcing partnership further strengthens Serco's business process outsourcing (BPO) interests within the UK financial services sector and will see the company provide customer contact and support services for AEGON following the TUPE transfer of some 330 members of staff at their offices in Lytham St Annes, Lancashire.
Serco will deliver a wide range of services for AEGON’s UK-based protection business. These include managing all aspects of the customer journey from initial underwriting through to claims management for the AEGON Individual Protection (AIP) suite, which comprises a full portfolio of life assurance, critical illness, disability and income protection products. Serco will look after all aspects of policy servicing and claims for some small ‘closed books’ of pension and life assurance policies that are no longer sold but still require ongoing management. It will also work closely with AEGON to deliver business process improvement and customer service excellence through the use of Serco’s advanced cloud technology, internet telephony (VoIP), CRM and call centre software. Serco will be responsible for the administration of approximately 500,000 current and closed book policies in total.
"This is another significant contract and an exciting strategic development for our growing global BPO business," says Tom Riall, Chief Executive of Serco Global Services. "It marks our entry into this important segment of the financial services market and is an emphatic demonstration of our progressive partnership approach. We will work closely with AEGON, helping them deliver ever-greater service and value to their customers. This new partnership will see us operate primarily from the company's existing offices in Lytham St Annes in the UK, which we are aiming to develop as a centre of excellence following earlier contract wins with the UK’s leading online retailer Shop Direct Group and leading UK general insurer, esure.”

"Our new partnership with Serco will add further impetus to our developing and highly successful protection business," adds Adrian Grace, UK CEO of AEGON. "We're absolutely determined to deliver first-class customer service and to maximise our operational efficiency as we move forward with our progressive development plans for the UK business. Our new strategic partnership will enable us to do just that thanks to Serco's global expertise in service innovation and transformation.”
The initial ten-year term of the new partnership contract signed by AEGON and Serco will commence on 1 November 2012.

About Serco 

Serco is a FTSE 100 international service company, which combines commercial know-how with a deep public service ethos. Around the world, we improve essential services by managing people, processes, technology and assets more effectively.  We advise policy makers, design innovative solutions, integrate systems and - most of all - deliver to the public. Our global BPO business has over 52,000 employees across 100 locations, with a presence in 10 countries providing the complete spectrum of business services to customers in the public and private sector around the world. As a dynamic global service organisation, our people have the expertise and intimate knowledge of our customers’ markets as well as best practice processes and technologies to exceed expectations.  We have the vision, agility and determination to deliver cutting-edge business process solutions and set ever-higher standards in the markets we serve.