Tata Consultancy Services (TCS) has expanded its partnership with UK-based investment firm Aviva to manage an additional 1.1 million policies. This move is a significant expansion of the existing partnership between the two companies, which was first announced in 2019. Under the new agreement, TCS will provide end-to-end services for Aviva’s policy administration, including underwriting, claims processing, and customer service.
The partnership is expected to help Aviva improve its operational efficiency, reduce costs, and enhance customer experience. TCS will leverage its digital platforms and expertise in insurance to transform Aviva’s policy administration operations, making them more agile, flexible, and responsive to changing customer needs.
The expanded partnership is a testament to the success of the initial engagement between TCS and Aviva. The two companies have been working together since 2019, when TCS was appointed as Aviva’s strategic partner to manage its policy administration operations. The initial partnership covered around 1.8 million policies, and the new agreement increases this number to 2.9 million policies.
The deal is also a significant win for TCS, which has been expanding its presence in the UK market. The company has a strong track record of delivering large-scale transformation programs for insurance companies globally, and the expanded partnership with Aviva reinforces its position as a leading player in the insurance sector.
The partnership is expected to create new job opportunities in the UK, as TCS will be hiring additional staff to support the expanded operations. The company has a significant presence in the UK, with multiple offices and delivery centers across the country.
The deal is also a reflection of the growing trend of insurance companies partnering with technology firms to transform their operations and improve customer experience. The insurance industry is undergoing significant changes, driven by technological advancements, changing customer expectations, and increasing competition. As a result, insurance companies are looking to partner with technology firms like TCS to leverage their expertise and digital platforms to stay ahead of the curve.
Overall, the expanded partnership between TCS and Aviva is a significant development in the insurance sector, and is expected to have a positive impact on both companies. It demonstrates the growing importance of technology in the insurance industry and the need for companies to partner with technology firms to stay competitive.