HCL Technologies said it has bagged a long-term deal worth about $200 million from UK-based Equitable Life Assurance Society firm.
The deal has been awarded to HCL Insurance Business Services, the IT firm s UK-based life and pensions administration business, and is for a period of 30 years.
Currently, about 340 people are servicing the account. "We expect about 100 people will be taken in by Equitable Life, rendering about 240 people surplus," said Equitable Life Chief Executive Chris Wiscarson. "HCL will take care of the work of these 240 employees, with about 50-70 jobs being taken care of from HCL s Chennai centre," he added.
As part of the deal, HCL will provide complete solutions, including policy administration, finance, actuarial services, IT operational support and call centre services.
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