New Delhi, Jan 30 Tata Consultancy Services (TCS) on Tuesday announced a 15-year expansion of its partnership with Aviva, the UK's leading insurance, wealth and retirement provider.
As part of this, the end-to-end policy administration and servicing will expand to cover over 5.5 million policies, to be managed by Diligenta, TCS’ FCA regulated subsidiary in the UK, on behalf of Aviva.
Aviva has now engaged TCS to extend this enhanced customer experience using the same future-proof TCS ‘BaNCSTM’ based digital platform to administer other Aviva books of business, the companies said in a statement.
TCS did not disclose the deal size.
However, according to Moneycontrol, the deal is likely to be over $500 million in size.
Doug Brown, CEO Insurance, Wealth & Retirement, Aviva said that extending this strategic partnership will improve "how we serve our customers, further simplify our operations and support our growth ambitions".
"We are delighted as we embark on the next chapter of this journey, where ongoing investment in our TCS BaNCSTM based platform and proven track record will enable Aviva to drive a customer-centric business, even as we continue to improve end-to-end customer experience benchmarks in the UK Life and Pensions industry," added R Vivekanand, President, BFSI Products & Platforms, TCS.
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.
It currently employs more than 23,000 people in the UK and Ireland, making it among the region’s biggest IT employers.
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