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Life Insurance, Annuities and Pensions


Transform business operations to drive efficiencies, drive enhanced consumer experience and manage regulatory changes using agile and data-driven systems with TCS’ offerings for Life, Annuities and Pensions.

The life insurance industry continues to face cost-pressures from a slowly recovering global economy. Life insurers must find operational efficiencies while ensuring both regulatory compliance and managing customer expectations. Consumerization is driving shifts in products, channels and processes at leading life insurers.

In addition, the focus to increase efficiency in closed books management and legacy systems administration continues as is, overcoming the challenges of soft underwriting conditions. Amidst all this, insurers want to shift to data-driven decision making and create new opportunities through a revitalized distribution channel strategy.

The TCS Advantage

With over 12.5 million policies and 70,000+ plans serviced to suit different needs, TCS partners with the top 20 life, annuities and pension carriers with its full-services portfolio. Our offerings virtually cover every aspect of the life, annuities and pensions value chain.

what TCS provides

Our offerings in the life insurance, annuities and pensions space include the following:  

Products Portfolio Serviced Full Services Spectrum Functional Experience
Individual Plans(e.g. Annuities) Domain led Consulting Services Plan Mgmt/ Plan Sponsor & Agency Servicing
Institutional Plans IT ADM & Managed Services Enrolments & Servicing
Government/ State Sponsored Plans BPO & TPA Services Contributions Processing
Private Pensions (e.g. IRAs) Infrastructure Management & Cloud Solutions Distributions Processing
Social Insurance Insurance Platform(TCS BaNCS) Assets Management
Emerging & Mobile Technology Solutions Enterprise Services & Regulatory Reporting

TCS’ Full-services Portfolio:

    Success Stories

    We help you improve efficiency, reduce costs, enhance customer satisfaction and strengthen partnerships. Overcoming the challenges of soft underwriting conditions, we help you increase efficiency in closed books management and legacy systems administration.

    Our engagements have helped many customers achieve substantial business benefits.

    • We managed five million policies in the reducing variable per policy model, of which 3.9 million policies were migrated to the TCS BaNCS platform.
    • We enabled a single customer view and self-service implementation for a European insurer with over four million customers.
    • We achieved a 50% reduction in new business cycle times and improved customer satisfaction using TCS’ Business Process Time Modeling.
    • We used a self-funded model to simplify the general insurance landscape for a large UK insurer.
    • We delivered a web-based quote and issue system employing agile development methodology, meeting an aggressive schedule of 90 days.
    • Redesigned a redesigned financial services website, which resulted in a increase in registrations by 42%.

    Read some examples of the business results delivered by TCS.

    Client Testimonials

    Allianz Life Insurance Company of North America

    In this video, Cathy Mahone, Senior Vice President of Enterprise Operations for Allianz, highlights the financial and customer service benefits by partnering with TCS.

    Client Testimonials

    Sanlam Life Insurance Ltd. partners with TCS to re-engineer its policy administration system

    In this video, Sanlam Life Insurance Ltd’s senior executives describe how TCS has done a great job re-engineering its policy administration system by replacing an aging system.

    Case Studies

    Allianz Life engages TCS to transform its License, Contract and Appointment Process

    Learn how TCS re-engineered the company’s LCA processes and migrated its data from the source legacy systems to a new agent management system and helped Allianz Life introduce new and more creative products faster into the market.

    Case Studies

    TCS helps Allianz Life Insurance improve service levels while achieving cost savings

    Learn how TCS, with its BPO services, helped Allianz Life Insurance achieve operational cost savings, a significant increase in service levels and better customer satisfaction.