PRESS RELEASE

 

AG Selects TCS as a Strategic Partner for its Digital Transformation

Managed Services Partnership Will See Tata Consultancy Services Help the Insurer Build a Future-proof Digital Core, Focus on Continuous Improvement and Innovation, and Deliver Superior Customer Experience

BRUSSELS | MUMBAI, October 28, 2020: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, has been selected as a strategic partner for managed IT services by AG, a leading Belgian insurer, to help enhance the latter’s digital channels and modernize its IT systems, leveraging TCS’ Machine First™ approach.

With over 2.7 million customers, AG is a market leader in the Belgian insurance sector. It provides a full spectrum of insurance offerings – including life insurance, auto, fire and civil liability insurance as well as employee benefits. The insurer has partnered with TCS to transform its technology stack and adapt to the changing expectations of its diverse range of customers.

AG will leverage TCS’ technology expertise and extensive experience in the insurance domain to modernize its application stack and enhance current core insurance services and digital channels. The outcome of this partnership will be a robust, future-proof IT foundation that will improve agility, strengthen operational resilience, and deliver superior user and customer experiences.

Additionally, TCS will creatively leverage its investments in research and innovation around technologies like IoT, big data, blockchain, machine learning and AI to help AG reimagine products, processes and services. In this co-innovation journey, TCS teams will work closely with the insurer’s business users as well as promising startups from TCS’ Co-innovation Network, through the discovery, definition, refinement and delivery phases leveraging the facilities at the TCS Pace Port™. The resultant innovations are expected to stimulate growth and further strengthen AG’s position in the market.

At AG, we’ve always prided ourselves in offering superior service to our customers and distribution partners,” said Philippe Van Belle, Business Operating Officer, AG. “With customer expectations continuing to grow and evolve, along with the size of our organization, we needed an IT partner who had expert domain knowledge of the insurance sector and the flexibility to adapt to our unique needs. After an initial positive experience with successful delivery of projects such as www.yongo.be, TCS is well positioned to become a strong long-term partner for day to day IT operations as well as IT transformation projects. We expect to leverage on TCS’s global Innovation ecosystem and experience to increase efficiency and build differentiating experiences in the market we operate.”

TCS has made significant investments in domain capabilities, research and innovation and intellectual property in the areas of life insurance, retirement, annuities, property and casualty insurance. Our ability to design and deploy solutions that harness the combinatorial power of digital technologies has made us the preferred growth and transformation partner for our customers, giving us market leadership in the insurance domain,” said Hemakiran Gupta, Business Unit Head – Mainland Europe, BFSI, TCS. “Our partnership with AG Insurance will see us leverage all these capabilities to transform their application estate and build a future-proof core that will foster innovation, agility and enhanced customer experience.”

For insurers around the world, TCS offers a comprehensive portfolio of digital transformation services, from consulting and industry advisory, agile application development, and engagement layer transformations, to digital core platform implementations, business model reimagination, and data, analytics, automation and cognitive intelligence solutions. TCS leverages IoT, big data, blockchain, machine learning and AI to provide innovative solutions that reimagine products, processes and services for insurers around the world.

About AG

AG is a leading insurance company in the Belgian insurance sector, with over 190 years of experience and know-how.

AG has a rich history as an insurer. In 1824, the company was already active. Since then, it has grown to become the market leader it is today in the Belgian insurance sector with more than 2.7 million individual customers.  AG is a multi-channel insurer with a full range of insurance products that meet the needs of all market segments. From individuals to professionals, from freelancers to large companies, each client can find life insurance and damage insurance products (auto, fire, accident, hospitalization, civil liability, etc.) at AG, as well as solutions for their supplementary pension.

About Tata Consultancy Services Ltd (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for the last 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 453,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22 billion in the fiscal year ended March 31, 2020, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.

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