ING US has inked a seven year, $330 million, insurance business process services contract with Cognizant that sees 1000 employees transfer to the vendor.
Under the deal, more than 1000 ING US employees in Minot, North Dakota and Des Moines, Iowa will move to Cognizant. The vendor is buying the Minot facility and sub-leasing the Des Moines offices.
The staff will form part of a new centre of excellence for insurance and finance business process services serving FS clients.
Gordon Coburn, president, Cognizant, says: "Our new centre of excellence will serve as a key long-term component of our global delivery network and is yet another step in our ever-expanding in-country delivery capability."
Rob Leary, president and COO, ING US, adds: "Leveraging Cognizant's expertise will help us operate more efficiently while delivering the high levels of support our customers and distribution partners have come to expect."