IT e-commerce & outsourcing
The insurance sector's use of technology has led to a rapid increase in new distribution models and selling arrangements, each giving rise to its own IT, intellectual property and data protection issues.
We regularly advise clients on the IT, IP, e-commerce and DP aspects of distribution and corporate partnership arrangements in both life and general insurance, including white-label arrangements, intermediary arrangements, tools and data licensing, and agreements with platforms, fund supermarkets and aggregators.
Our leading IT and business process outsourcing practice can advise on all aspects of the outsourcing of specifically insurance-related operations, such as underwriting or claims management. We can help you set up arrangements for a wide range of technology and business process outsourcing, such as IT, telecoms and document production.
We also have specific expertise in wrap platform procurement projects and understand the sensitivities around operational risk in a regulated environment.
Our considerable sector experience comes, in part, through participating in projects that help shape the way the industry works. We were instrumental in the setting up, through Origo, of the legal frameworks for electronic data transmission of data between providers and intermediaries, and we are working with TISA to standardise the electronic re-registration of assets between platforms.
Our experience includes:
These are some examples of matters in which we have been involved.
- Advising Royal London on its outsourcing of insurance administration and IT support services, including transitional arrangements in relation to businesses acquired under a Part VII transfer
- Advising AXA UK, Friends Life and Zurich on the procurement of their respective retail and corporate platforms
- Advising the board of the Tax Incentivised Savings Association on its re-registration project and the creation of a standard legal framework for the electronic re-registration of assets and portfolio transfers between investment platforms
- Advising a leading employee benefits provider on its appointment of 3 preferred product providers and the procurement of its corporate wealth management platform and associated services on a white-label basis from those providers
- Advising Origo Services on the creation and implementation of legal frameworks to address the security and risk issues surrounding the electronic transfer of data between product providers and IFAs through third party service providers
- Advising AXA on its distribution arrangements with two major UK intermediary networks
- Advising insurance clients on the outsourcing of various business processes, including IT and telecoms infrastructures (such as R&SA on the outsourcing of its IT and telecoms network services to IBM and Cable & Wireless), document production, facilities management, payroll and HR services
- Advising a UK life insurance client on the use of straight through processing and paperless application processes