TCS bags deal from Standard Life International DAC to transform its operating model
IT services major Tata Consultancy Services (TCS) has bagged an outsourcing contract from Standard Life International DAC, a wholly owned subsidiary of the Phoenix Group, to transform its operating model and enhance the customer experience for its policyholders in Europe
Bengaluru, 26 June IT services major Tata Consultancy Services (TCS) has bagged an outsourcing contract from Standard Life International DAC, a wholly owned subsidiary of the Phoenix Group, to transform its operating model and enhance the customer experience for its policyholders in Europe.
The new project comes four months after the Mumbai-headquartered IT firm won a large contract worth $723 million deal from the Phoenix Group, which is the UK's largest insurer.
TCS has had a long-standing partnership with the Phoenix Group in the UK, where its UK subsidiary Diligenta, has digitally transformed the operating model and administers more than 10 million policies for the latter. With this new contract, the two organizations are keen to replicate this model, extending the same enhanced digital experience to policyholders in Germany and Austria, and in other European markets.
Under this agreement, TCS will set up a customer operations centre in Germany, and a life and pensions digital platform for Germany and Austria. The company will initially transform and migrate more than 400,000 policies.
“We are delighted to expand our long-standing partnership with the Phoenix Group to include SLIDAC’s policyholders in Europe, and extend to them, the same digital omnichannel experiences that have made us a market leader in the United Kingdom,” said R Vivekanand, President, BFSI Products & Platforms at TCS.
TCS is the largest provider of software and IT services in the UK. It is the only company that provides its revenue contribution from the UK separately.
“We continually review our operating model to ensure it is meeting the evolving needs of our customers on their journey to and through retirement. Leveraging the advantages of our strategic relationship with TCS, a leading global organization, will support our growth strategy in Europe and bring benefits to both our customers and advisers,” said Nigel Dunne, CEO, Standard Life International DAC.