Insurance giant Prudential is
already using 200 Bombay-based staff to carry out financial accounting, analysis
and risk-profiling work on behalf of the insurer in the UK, Europe and in Asia,
The Times reported.
At the same time it is considering eventually shipping its accounting,
actuarial and underwriting work to
The move could save the insurer millions of pounds in wage costs, but would
put British jobs at risk.
Tucker, Prudential chief executive, has put 2,000 UK jobs and a further
1,000 overseas positions under review as part of an efficiency drive aimed at
saving £195m a year in costs by the end of the decade.
The application of robotics in finance functions is moving faster than predicted. Although, companies are cautious in how they are applying artificial intelligence to ensure results first, many are stepping up their investigations
EU competition commissioner Margrethe Vestager has defended the decision to order technology giant Apple to pay €13bn (£11bn) in back taxes to the Irish government
Carillion has announced the appointment of a new finance director as it reported a rise in first half profits and sales led by strong growth in its support services business
The UK inflation rate hit its highest level in almost two years in July, suggesting that the sharp fall in sterling following the UK referendum to leave the European Union is forcing prices up