Friends Life was created from the aggregation of three U.K.-based life and pension insurance companies. Within the life insurance holdings of Friends Life, the biggest operational challenge was managing about 20 different varieties of closed policies i.e. those policies no longer being sold, but that must be serviced through the life of the policies while maintaining high-quality customer service. Friends Life began searching for a single provider for both IT systems and customer service.
Read how TCS BaNCS for Insurance enabled Friends Life to migrate expensive-to-run legacy systems onto a single platform offering per-policy reduction in costs over time.