TCS has been positioned as a leader in Everest Group’s PEAK Matrix® assessment on Property & Casualty (P&C) Insurance BPS (business process service). Here are a few highlights and key findings from the assessment.
- TCS’ value proposition for its P&C Insurance BPS business is based on leveraging IT-BPS synergies to deliver outcomes through its Machine First™ model that supports automation of business processes using analytics and AI.
- North America continues to be the key focus area for TCS. The company saw double-digit growth for existing customers in the US market.
- TCS’ investments in developing solutions that are focused on emerging business models within the insurance space, such as usage-based insurance and connected homes and cars, are expected to be beneficial from a long-term perspective.
- TCS is augmenting its presence in areas of underwriting and claims through the development of an underwriting workbench framework—a solution to manage end-to-end claims—and a fraud detection platform for the home insurance segment.