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Success Stories

 

Some examples of the business results delivered by TCS at top global insurers include the following:

Business Transformation

  • We implemented a Pega solution to enable a single claims process reducing costs, driving consistency globally and exceeding customer service requirements for a top 50 American multinational insurance company.
  • We helped with a personal lines policy administration transformation for a large US auto insurer enabling it to respond effectively to competition in new channels.
  • We enabled a multi-country, multicurrency claims system to handle all the lines of business for the Scandinavian operations of a P&C insurer.
  • TCS’ full service model for a UK life & protection organization enabled process optimization, application consolidation and product rationalization resulting in a 45% TCO reduction.

Customer Experience

  • Using TCS’ Integrated Digital Experience solution, we helped a Fortune 200 financial and insurance services provider in the US transform to a true digital enterprise through various phases, enabling improved consumer acquisition and relationship. This engagement also helped the company achieve the following:
      • To move from product-to consumer-centric personalized offerings with the consolidation of four product-focused websites to one customer portal
      • Provide consistent and coherent customer experience across multiple channels
      • Offer best-in-class mobility services to bring coherence between marketing and sales & services
  • We enabled the marketing function at a leading North-American insurance and financial services organization with the following:
      • A 60% YoY increase in acquisition rates
      • An increase in cost efficiencies, saving USD 20 mn
      • A 25% reduction in marketing vehicle cost
  • We helped a US insurance and financial services company acquire and service its financial products through any access point, via a simple, seamless and integrated platform.
  • We provided a customized pension servicing portal for a British multinational financial services organization which helped with the following:
      • Enabling end-users to manage their funds including switching and redirection 
      • Providing online unit account statements and contribution
      • Rendering graphical representation of funds and valuations
      • Empowering business users to manage their content and ensure regulatory compliance

Operational Efficiency

  • We provided a unified platform for the in-force business areas of life systems for a British multinational insurance company. Our portal-based solution enabled the management of 65% of the customer requests with an average handling time of 10 seconds.
  • We seamlessly consolidated four policy administration systems into a single system, thereby reducing redundancies and overheads associated with maintaining multiple policy administration systems for an American multinational insurance organization.
  • We transformed the general insurance back-office processes of a US-based Fortune 500 financial services company, to support financials and GL to reduce operational costs and improve time-to-market.

Customer Speak

“I thank you for your full support over the past year and a half as we worked to lay the foundation for future projects, as well as deliver benefit to our employees and customers, while also delivering cost savings to the division and company.”
- Allianz Life Insurance Company of North America, Jim Quinn, Vice President of Enterprise Operations

“What I’m most excited about in working with TCS is that they are side by side with us figuring out how we can get even better – how can we improve our service for our customers and reduce our cycle times. So we’re very excited about this partnership and where we can take things.”
 - Allianz Life Insurance Company of North America, Cathy Mahone, Senior Vice President of Enterprise Operations

Read case study: Allianz Life Insurance improves service levels while achieving cost savings by outsourcing its operations to TCS

Client Testimonials

Allianz Life Insurance Company of North America

Allianz Life’s mission is to be the leading innovator of financial solutions for consumers who want protection, income and the guidance of a trusted financial professional. Allianz turned to TCS in 2007 to maximize efficiencies in numerous business processes, transformation projects, and IT maintenance and support.

Client Testimonials

TCS partners with NEST to deliver and run a next generation pension scheme in the UK

In this video, Tim Jones, CEO, NEST, discusses the partnership with TCS on the ideation to implementation journey of the UK’s next generation workplace pension scheme.National Employment Savings Trust (NEST) is a UK workplace pension scheme aligned to the concept of “auto-enrolment,” a pension regulation coming into force in October 2012. As part of this engagement, TCS provides E2E implementation services and is the scheme administrator responsible for customer services operations.