TCS Life Insurance, Annuity, and Retirement Services

Achieve sustainable growth and superior customer satisfaction while managing costs and risks with TCS’ Life Insurance, Annuity, and Retirement Services.

The life insurance, annuity, and retirement (LAR) business is undergoing a digital transformation. It is imperative for LAR insurers to adapt digital technologies to deliver differentiated customer services. Analytics and automation also play a key role in capturing customer mindshare.

The TCS Advantage

ValueBPS™: Our ValueBPS approach helps enterprises achieve significant and sustained business outcomes by leveraging our deep domain expertise and operations redesign methodologies such as FORE. We deliver impactful business outcomes such as reducing the time taken to launch products and campaigns, reducing underwriting losses, and optimizing operational costs. This helps insurers achieve greater agility and flexibility, and better quality of service even in times of volume volatility.

Industry domain expertise: Our large talent pool services over 30 leading insurers across five continents. Our experts hold major industry certifications including LOMA, ASPPA, CII, and ASFA.

Analytics and insights: Our data analytics on social media along with propensity models help analyze customer behavior and purchase patterns to improve campaign effectiveness. This helps create specific strategies targeted at faster and cost effective customer acquisition. We also leverage advanced analytical models to identify suspicious claims and mitigate frauds.

BPaaS: TCS BaNCS is an end-to-end suite of solutions for banks, capital market firms, insurance companies and diversified financial institutions. Each TCS BaNCS solution is scalable and robust, and fully integrates with existing business models, enterprise infrastructure and technology architecture.

Solutions we offer

Tata Consultancy Services’ (TCS’) Life Insurance, Annuity, and Retirement Services help you meet the unique demands of a changing marketplace and achieve sustained and profitable growth. Our expertise in analytics and robotic process automation delivers enhanced protection from risks while improving operational efficiency.


We drive operational efficiency and help insurers better manage customer expectations, at an optimized cost.

  • Save over 45% in costs through platform consolidation and process transformation, resulting in reduced cost per policy, and reduce overhead costs by up to 15% by implementing the Universal Product Code (UPC) billing model
  • Reduce around 35% on operational costs and ensure 67% faster agent on-boarding through reengineered licensing, contracting, and appointment application
  • Achieve over 90% STP to enhance scheme accessibility and stakeholder experience through digital transformation

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