Prudential moves closer to finalising India move

Prudential is in the process of moving 850 jobs to India within 18 months, according to its implementation partner, ICICI OneSource (I-OneSource).

Other insurers are understood to be watching the situation closely as more companies look to outsource operations.

According to I-OneSource CEO and managing director Ananda Mukherji, Prudential is investing £3.19m to £3.83m to set up a facility that will support 850 jobs.

Mukherji said: "We are currently considering locations like Mumbai and Bangalore to set up a dedicated facility for Prudential. The 850 jobs will be shifted to India in phases."

Prudential plans to shift a major part of its insurance back-office operations to India.

This is the first time that I-OneSource would be setting up a dedicated facility for its any of its clients.

Mukherji said: "This deal is big in terms of manpower and skill requirements and hence the need for a separate facility."

The two companies have not yet finalised the processes to be shifted to India.

I-OneSource is a member of the ICICI Group, an Indian private sector bank.