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CASE STUDY

Sun Life Financial of Canada

Integrating Annuity Administration

 

 




Sun Life Financial of Canada in the UK is focused on providing excellent customer service by offering the highest levels of customer care. They have been servicing customers in the UK for over 100 years and currently have £11.2 billion* of assets under management.


*as of 31 December 2019

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The Challenge


When Sun Life Financial of Canada sought to integrate their annuity administration under one central supplier, Equiniti was confirmed as the supplier of choice. Chosen for the integrated annuity administration service, based on a history of providing high levels of service through the existing contract.

Having these services brought together under the one supplier delivers greater control, improved management information, and economies of scale for Sun Life Financial of Canada, as well as ensuring continuity of service for their current and new internal vesting annuitants.

Timely, accurate payments to over

120,000 annuitants

Successful migration of

37,000 paying annuities

Excellent performance for

20 years

Strong

governance and service delivery management

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The Solution


Equiniti worked in partnership with Sun Life Financial of Canada to provide a seamless transition for their clients’ annuities.

Sun Life Financial of Canada chose us due to our heritage as an industry-leading annuity administrator and also our history of solution-driven results. Successful migration of 37,000 paying annuities to their administration platform, ensuring excellent service for over 120,000 annuitants.



The results

Successful migration

This success was the result of the strong project and change management disciplines and capabilities already in existence at Equiniti, which were adapted to the specific requirements of the client. A partnership approach was taken with the client, as well as with the incumbent supplier, which generated a positive working relationship, ensuring that timescales were met and the transition was implemented seamlessly.

Equiniti was also able to add value to Sun Life Financial of Canada during the due diligence phase. This mitigated any potential impact on their annuitants and resulted in delivering an improved level of service.


Committed to a successful outcome

Equiniti and Sun Life Financial of Canada have created a successful outcome for all stakeholders.

It supports Sun Life Financial of Canada’s operating model, has engendered a stronger partnership between the two organisations, and ensured continuity of service for Sun Life Financial of Canada’s annuitants.

Contact us

For more information on this case study, or to talk through annuity administration, please contact here.

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