Our case study will focus on an insurance company with an existing mixed ITO and BPO deal. Signed in 2006 and due to expire in 2011, the deal involves 300 Applications Development/Maintenance seats with work being done in India and Poland, and a customer-facing call centre with services split between Glasgow, Liverpool and Manila. Annual spend, with a Tier 1 services provider, is £80 million.

The economic crisis has hit the insurance company hard and the business is under pressure due to falling sales and increasing FSA requirements.

A new CEO has been appointed and has announced that he is looking for savings of at least £20 million per annum from the sourcing deal. In addition to his annual targets, he wants early wins to show the stock market that the company is serious about saving money.

Where do you begin?

The discussion will be facilitated by David Skinner, Partner at Morrison & Foerster, with input from Alistair Maughan, Partner, Morrison & Foerster and Tony Rawlinson, Managing Director, Financial Services Advisory, EquaTerra Europe and Asia Pacific.

By the end of the session, participants will have a road map to approaching the restructuring and deciding who should be involved. Discussion will also focus on where to find the savings, and how to build a sustainable and valuable relationship with a supplier while still cutting costs.

Speakers:

• Alistair Maughan, Partner, Morrison & Foerster, London
• Tony Rawlinson, Managing Director, Financial Services Advisory, EquaTerra Europe and Asia Pacific
• David Skinner, Partner, Morrison & Foerster, London

There is no charge to attend this seminar.

Morrison & Foerster (UK) LLP (Authorization Number 3538/MOFO) certifies that this activity has been approved for CPD credit by the Solicitors Regulation Authority for the amount of 1.5 hours.