Zurich
Financial Services has signed a seven-year global outsourcing contract with IT
services firm Computer Sciences Corporation (CSC) in a deal that could be worth
up to £700m.
Under
the terms of the deal, announced today, around 1,600 Zurich IT employees are
expected to transfer to CSC.
Staff
in the US, the UK and Switzerland are expected to transfer in the fourth
quarter of 2004.
Subject
to the successful completion of the required consultation and merger control
approvals, Zurich staff in Germany are expected to transfer during the second
half of 2005.
IT
systems covered by the agreement support all insurance lines written by Zurich
and all business processes, including new business and underwriting, customer
service and claims.
Michael
Paravicini, chief IT officer at Zurich, said: "This agreement will
introduce new efficiencies in applications service delivery, and help us direct
the right resources to the right business priorities when and where we need
them."
Zurich
has offices in more than 50 countries and employs around 62,000 people.
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