Tata Consultancy Services has announced a significant expansion of its partnership with Aviva UK, marking a major milestone in the company's insurance services portfolio. The enhanced cooperation will see TCS overseeing an additional 1.1 million insurance policies for the UK-based insurance giant.

Partnership Expansion Details

The expanded partnership represents a substantial growth in TCS's insurance services capabilities. The following table highlights the key aspects of this development:

Enhanced Service Portfolio

With this expansion, TCS now manages over 6.5 million policies in total, demonstrating the company's growing influence in the insurance technology sector. The partnership extension builds upon the existing relationship between TCS and Aviva UK, showcasing the trust and confidence that the insurance provider has in TCS's service delivery capabilities.

Digital Transformation Focus

A key component of the expanded cooperation involves the implementation of digital tools aimed at improving customer experience. TCS plans to leverage its technological expertise to enhance service delivery and streamline policy management processes. The focus on digital transformation aligns with the broader industry trend toward modernizing insurance services and improving customer engagement through technology.

Strategic Significance

This partnership expansion reinforces TCS's position as a leading provider of insurance technology services. The ability to manage over 6.5 million policies demonstrates the company's operational scale and technical capabilities in handling large-scale insurance operations. The collaboration with Aviva UK, a prominent player in the UK insurance market, further strengthens TCS's presence in the European insurance services sector.

Tata Consultancy Services has strengthened its long-standing partnership with Aviva UK through a significant expansion that will see the IT services giant manage over 6.5 million policies for the leading insurance provider. The enhanced collaboration adds 1.1 million life insurance policies to TCS's existing portfolio, demonstrating the deepening trust between the two organizations.

Partnership Expansion Details

TCS subsidiary Diligenta will manage an additional 1.1 million Aviva policies in the UK, expanding total coverage to over 6.5 million policies through its BaNCS platform. This expansion builds upon the companies' existing relationship and aims to deliver transformed services and enhanced customer experiences.

Technology and Service Enhancement

The partnership centers around a customer-centric approach to digitization at an enterprise level, aligned with New Consumer Duty Principles to ensure positive outcomes for customers. The enhanced services include self-service capabilities for customers, digitally powered service delivery centers, and a simplified technology landscape.

TCS leverages its BaNCS platform and contextual knowledge to improve service quality and enhance experiences for all stakeholders, including policyholders, advisers, and operational staff. These initiatives aim to enable faster resolutions, improved access to information, and better outcomes for customers.

Platform Capabilities

TCS BaNCS for Life Insurance and Pensions operates on a digital core and supports conversational interfaces to guide users through their business journeys. The platform's new product configurator is designed to enable agile product launches, potentially reducing time-to-market to a matter of days.

Key platform features include:

• Rich set of domain APIs for simplified ecosystem integration
• Interoperability across channels and business lines
• Advanced digital portals with built-in first-point resolution (FPR)
• Straight-through processing (STP) capabilities
• Risk control features
• Enhanced self-service options with contextualized communications

Strategic Significance

R Vivekanand, President, BFSI Products Platforms at TCS, stated that the enduring partnership with Aviva has been built on mutual trust and commitment over many years. He emphasized that Aviva's decision to entrust TCS with additional portfolios demonstrates the depth of their collaboration and TCS's commitment to delivering exceptional experiences.

The partnership reinforces TCS's position as an innovation partner for leading businesses in the UK. TCS works with over 200 of the nation's top brands and has recently announced plans to create 5,000 new jobs across the UK over the next three years.

Company Background

Aviva serves as the UK's leading diversified insurer, operating in the UK, Ireland, and Canada, with international investments in India and China. The company helps 25.2 million customers and has been serving people for more than 325 years.

Diligenta, established in 2005, currently administers over 20 million policies on behalf of its clients and maintains a track record of delivering transformation to the Life and Pensions industry through its market-leading platform powered by TCS BaNCS.