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EXL to sign contract with new companies
By siliconindia
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Tuesday, 15 July 2008, 01:31 IST
Mumbai: EXL Services, one of the major BPO firms in India, is planning to commit contracts with insurance companies as its Build Operate Transfer (BOT) with Aviva Insurance, one of the largest insurance groups in UK, is coming to an end. Close to 1200 employees that were on its rolls under the BOT contract will now be transferred to Aviva Global Services (Aviva GS), which has been sold to WNS Global Services, after a bidding process, reported The Economic Times.
Over 40 percent of EXL's revenue comes from the insurance sector, which is the largest among any of the third party BPO's in the country.
Rohit Kapoor, Chief Operating officer, EXL said, "We were contractually obligated not to work with any of Aviva's competitors in Europe under the BOT contract. With the BOT now getting transferred, EXL is free to take on work from any other insurance players."
About 22 percent of EXL's total revenue for the March 2008 quarter came from Aviva. Even though the deal transfers to WNS, Aviva, which has stake in EXL, continues to be a customer. EXL has also announced that another contract being serviced from its Noida facility has been renewed for up to January 2012.
According to the new deal, WNS will have the exclusive rights for all out sourcing contracts from Aviva UK and Aviva Canada. However, EXL will be free to bid for any outsourcing contracts from Aviva in the rest of Europe and U.S.
Following the acquisition of Aviva GS, WNS becomes the BPO provider with the largest insurance capability with 7,400 employees of which 5,200 will be from Aviva GS.
