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(From Life Insurance International)
Widespread reservation in the UK retail financial services industry regarding offshore outsourcing has been revealed in a new survey commissioned by consultants Huntswood Outsourcing Solutions, indicating that expansion will not be so far reaching as forecast.
Those surveyed forecast that offshore outsourcing would grow by 57 percent in the next five years. Seventy two percent thought that life insurers would have little choice but to outsource in order to remain profitable in a one percent world.
Outsourced administration of life funds closed to new business would be a big growth area, with 66 percent of those …