The Pearl Group has outsourced its processing and administration to TCS in a £486 million deal that will affect 950 of its employees. Of its 1,100 employees, 950 will remain at its Peterborough offices, but will be employed by TCS in what they are calling ‘a UK life and pension centre of excellence’!
The company currently run 13 different IT systems, but, over the next four years will be moved onto one system to speed up administration. Pearl believes that the move is aimed at controlling costs for policyholders.
Our view
It is about time. Pearl have delivered poor service returns for some years and we feel sorry for policyholders and staff as they have to cope with advisers such as us contacting them with complaints. Still the same staff though, so how much will change?