International Financial Data Services (IFDS), a leading global provider of outsourcing and technology solutions to the collective investment, retirement, insurance, and platform markets, today announced it has successfully transitioned the policy administration of Hawthorn Life Limited's bond, pension, and annuity products.
Dublin-based Hawthorn Life transferred the range of products to IFDS on an outsourced servicing basis, inclusive of policyholder correspondence and call centre support functions. As part of the successful transition, a number of Hawthorn employees transferred to IFDS.
"We are delighted to be working with Hawthorn Life and we welcome our new colleagues," said Steve Parkinson, CEO Retirement and Insurance Solutions at IFDS. "Together, we'll be able to leverage our integrated administration offering and bring high levels of automation and operational controls to the process."
Hawthorn Life focuses on supporting and managing an existing book of variable annuities (investment and retirement products) for UK-based customers.
"IFDS's state-of-the-art technology platform offers a superior proposition," said Alastair Murray, CEO of Hawthorn Life. "We're confident this move will ensure that our customers continue to receive the quality of service they have come to expect well into the future."