TCS bags 15-year deal from UK-headquartered insurance company Aviva

TATA CONSULTANCY SERVICES

Tata Consultancy Services (TCS) on January 30 announced that Aviva, the UK’s leading insurance, wealth and retirement provider has expanded its partnership with the IT services major in a 15-year agreement to transform the company’s "UK Life business and improve customer experience".

TCS did not disclose the deal size. However, sources told Moneycontrol that this will be a mega deal which is usually considered to be over $500 million in size. The deal comes after the country’s largest IT services firm had a seasonally weak quarter where no large deals were reported.

Aviva is a long-standing partner of TCS for 20 years. In this new agreement, TCS will be deploying TCS BaNCS transforming Aviva’s end-to-end policy administration and servicing to expand to cover over 5.5 million policies. This will further be managed by Diligenta, TCS’ FCA regulated subsidiary in the UK, on behalf of Aviva.

Doug Brown, CEO Insurance, Wealth & Retirement, Aviva said, “Extending this strategic partnership will improve how we serve our customers, further simplify our operations and support our growth ambitions. It will allow us to rationalize our systems and improve efficiency, bringing significant benefits for our customers and the business.”

R Vivekanand, President, BFSI Products & Platforms, TCS added, “Our long-standing relationship with Aviva over the last 20 years is a testament to our joint efforts to consistently and continuously transform customer experience.”

TCS has operated in the UK for more than 45 years and works with over 200 of the top businesses in the country including British Airways, Virgin Atlantic, Sainsbury’s, Nationwide, M&S, Asda and Boots. TCS has a leadership position in software and IT services to the UK market. It currently employs more than 23,000 people in the UK and Ireland, making it among the region’s biggest IT employers.