Eire-based insurance coverage firm Normal Life Worldwide DAC (SLIDAC) has chosen Indian IT providers supplier Tata Consultancy Providers (TCS) to boost its operations and buyer expertise.
Below the alliance, TCS will set up a buyer operations centre and a life and pensions digital platform in Germany and Austria.
The tie-up will see TCS migrate greater than 400,000 insurance policies from SLIDAC’s German and Austrian life and pension books to its platform, which could be expanded to different European markets.
Powered by TCS BaNCS, the brand new platform is anticipated to permit SLIDAC to introduce new merchandise extra shortly, improve danger administration and controls, and reinforce regulatory compliance.
SLIDAC CEO Nigel Dunne stated: “Leveraging the benefits of our strategic relationship with TCS, a number one international organisation, will assist our development technique in Europe and produce advantages to each our clients and advisers. It is a actual alternative to assist us speed up our capability to innovate and effectively evolve our buyer proposition sooner or later.”
SLIDAC is a subsidiary of UK-based insurance coverage firm Phoenix Group, an current accomplice of TCS.
TCS BFSI merchandise and platforms president R Vivekanand stated: “We’re delighted to increase our long-standing partnership with the Phoenix Group to incorporate SLIDAC’s policyholders in Europe and lengthen to them, the identical digital omnichannel experiences which have made us a market chief in the UK.
“With TCS’ Digital Platform for Life and Pensions powered by TCS BaNCS, Normal Life Worldwide DAC may have a future-ready digital core that enhances its agility and can assist its development aspirations in Europe.”
Earlier this yr, TCS fashioned a partnership to digitally rework Phoenix Group’s ReAssure enterprise and supply administration providers.
