Hundreds of jobs are to go.
ReAssure, based at Windsor House, in Telford town centre, has announced that it is taking more of its financial services online in a partnership with TCS Diligenta, a UK-based arm of the giant India-based Tata Consultancy Services.
The spokesman said employees were informed on Tuesday about initial plans and they are"working through" which roles will be impacted."A support package for all impacted colleagues is in flight to support with leading through change and also outplacement activity including career coaching, CV writing and interview techniques and job searches.
But they add that they will be creating some"additional customer servicing roles in Telford" as work is consolidated. ReAssue was acquired by Pheonix in 2020 and that included its Alpha administration platform, which manages legacy ReAssure products. "Consolidating all policies on TCS BaNCSTM will allow the business to benefit from TCS’s significant ongoing investment in the platform with Phoenix customers benefitting from the clear digital focus, consistent customer journeys and customer proposition provided by one platform."
"Phoenix will look to ensure that redundancies are kept to a minimum wherever possible, for example through redeployment opportunities and natural attrition," they added."These synergies comprise annual post-tax cost savings of c.£35 million per annum, valued at c.£0.4 billion which increases long-term cash generation, and post-tax integration costs estimated at c.£0.2 billion incurred by the Group," they said.
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