TCS secured it’s largest UK deal in 3 years worth $700 million to digitize Insurer’s products
On Wednesday , TCS said in a statement that London-based Phoenix Group Holdings Plc has agreed to a contract worth more than $723 million to digitally transform it’s product offering .
TCS announced that they are going to digitally transform it’s insurance business ReAssure using TCS technology BaNCS . This is the largest banking , financial services and insurance (BFSI) products and platform deal for TCS in the past three years .
In a statement , R. Vivekanand , President , BFSI Products & Platforms , TCS said , “ Customer experience transformation has been a cornerstone of the TCS BaNCS platform’s value proposition . Towards this , we have been continuously investing in product and service innovation , setting a benchmark in UK life and pensions industry . We are delighted to further expand our long-standing partnership with Phoenix Group to digitally transform it’s ReAssure business , drive synergies and improve the end-to-end customer experience.”
The IT services major wins this deal in it’s second-largest global market , despite an increasingly cautious macro environment and uncertainty around client spending .
TCS will leverage it’s Innovation Lab in UK where it’s contextual experts and solution architects look for new ways to harness digital technologies to enhance the experience for policyholders , advisers , employers and operational staff , and to continuously improve the service quality for Phoenix Group’s customers .
According to MoneyControl Brid Meaney , CEO of Heritage Division , Phoenix Group said , “ Ultimately , this transformation will ensure that Phoenix’s customers benefit from clear digital focus , consistent customer journeys and customer proposition provided by one platform . “