Monday, April 30, 2007

Vertex announces exclusive contract with HSBC

Vertex Financial Services (VFS) today announced that it has signed a new services contract with HSBC Life (UK) Limited for several new protection and life investment products. This is an exclusive contract over the next five years which is expected to generate significant value for both companies.The first phase of the contract is for VFS to deploy its Bond Services solution to provide administration for a new Guaranteed Income Bond (GIB) product range.

Further life investment and protection products for various distribution channels, including IFAs, are also planned.The services provided by Vertex will include:

• Quotations
• New Business
• Policy servicing
• Claims administration

David Child, managing director, Vertex Life, Pensions and Distribution, comments
:"Winning this services contract is a clear demonstration of our market-leading capability in the life, pensions and STP arenas. We are very pleased to work with HSBC Life to help develop and support their insurance growth into new channels and I am confident we will add value as a key partner."

Craig Colton, director, HSBC Life comments:
"HSBC Life is delighted to enter into this new agreement with Vertex, which will give us a really solid foundation to take forward our development plans. Part of HSBC’s insurance growth strategy is to increase the market share of our bonds business and the launch of the GIB and other products with Vertex’s support will be crucial to achieving this."
HSBC Life's new dedicated administration services will be based in Cheltenham.

The new HSBC Life contract for Vertex Life, Pensions and Distribution follows other contract wins in 2006 including AIG/Living Time and Gartmore (Jessop Fund Managers).

1 comment:

Anonymous said...

good work keep it up...

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