TCS announces 15-yr extension of partnership with insurance provider Aviva
London: Tata Consultancy Services (TCS) on Tuesday announced an expansion of its collaboration with Aviva, a top insurance, wealth, and retirement provider in the UK.
The partnership will now encompass a 15-year agreement aimed at the transformation of Aviva's "UK Life business" with a focus on enhancing customer experience.
TCS did not disclose the deal size. According to Moneycontrol, this deal is expected to be a mega deal, typically exceeding $500 million in size.
The deal follows a period of seasonally weak quarters for the country's largest IT services firm, during which no big deals were reported.
Aviva has partnered with TCS for two decades. Under this new agreement, TCS will implement TCS BaNCS to revamp Aviva's complete policy administration and servicing, extending over more than 5.5 million policies. The initiative will be handled further by Diligenta, TCS' FCA-regulated subsidiary in the UK, acting on behalf of Aviva.
Doug Brown, CEO Insurance, Wealth & Retirement, Aviva said, “Extending this strategic partnership will improve how we serve our customers, further simplify our operations and support our growth ambitions. It will allow us to rationalize our systems and improve efficiency, bringing significant benefits for our customers and the business.”
R Vivekanand, President, BFSI Products & Platforms, TCS added, “Our long-standing relationship with Aviva over the last 20 years is a testament to our joint efforts to consistently and continuously transform customer experience.”
TCS BFSI Platforms is an end-to-end digital ecosystem that powers the journeys of life, pensions/annuities, property/casualty, and health insurance providers. This SaaS-first platform helps companies manage enterprise simplification, deliver superior customer experience, and achieve digital transformation.
TCS has operated in the UK for more than 45 years and works with over 200 of the nation’s best-known and most-loved businesses including British Airways, Virgin Atlantic, Sainsbury’s, Nationwide, M&S, Asda and Boots. TCS has a leadership position in software and IT services to the UK market.
It currently employs more than 23,000 people in the UK and Ireland, making it among the region’s biggest IT employers. TCS has been ranked the number one IT service provider for customer satisfaction in the UK in an independent survey of CIOs from the largest IT spending organizations in the country.
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