TCS extends pact with UK insurance coverage large Aviva

Tata Consultancy Providers (TCS) and Aviva, the UK’s main insurance coverage large, have introduced a 15-year enlargement of their partnership below which the Indian IT agency will broaden end-to-end coverage administration and servicing to cowl 5.5 million Life and Pensions insurance policies. These insurance policies shall be managed by Diligenta, TCS’ FCA-regulated subsidiary within the UK, on behalf of Aviva.

Whereas the corporate didn’t disclose the deal measurement, it’s prone to be round £1.1 billion going by an analogous deal introduced final 12 months with the UK’s Phoenix Group. That deal was value £600 million, below which TCS had agreed to handle three million insurance policies on behalf of Phoenix Group.

The Aviva partnership additional enhances TCS’ progress momentum within the UK area, the place the corporate noticed an 8.1 per cent uptick in income within the final quarter.

BaNCS-based platform

TCS will leverage the BaNCS-based platform and contextual data to enhance service high quality and improve expertise of all stakeholders together with policyholders, advisers and operational workers. Aviva and TCS have been companions for the final 20 years. Aviva has now engaged TCS, to increase this enhanced buyer expertise utilizing the identical TCS BaNCS based mostly digital platform to manage different Aviva books of enterprise.

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“This prolonged partnership strengthens our service, simplifies operations, and fuels our progress ambitions,” mentioned Doug Brown, CEO Insurance coverage, Wealth & Retirement at Aviva. “It streamlines our programs and boosts effectivity, delivering important advantages for each our clients and the enterprise.”

“Our 20 years of collaboration with Aviva are a testomony to our shared dedication to constantly bettering buyer expertise,” mentioned R Vivekanand, President of BFSI Merchandise & Platforms at TCS. “We’re thrilled to embark on this subsequent chapter, the place our confirmed monitor report and funding within the BaNCS™ platform will empower Aviva to drive a customer-centric enterprise, setting new benchmarks for end-to-end buyer expertise within the UK Life and Pensions business.”