Everest Group PEAK Matrix Positions TCS as a Leader in Insurance Business Process Outsourcing
Report cites TCS’ Scale and Technology Capability as the Source of its Market Success
Mumbai, January 17, 2013: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced, today, that it has been designated as a Leader in Insurance BPO in the Everest Group report “A PEAK into the Leaders, Major Contenders and Emerging Players of Insurance BPO.” Among the attributes that earned TCS the prominent position are its market success, scale and strong technology capability characterized by the TCS BaNCS suite of platforms for insurance.
In this report, Everest Group analyzed the position of 10 service providers on the Everest Group Performance | Experience | Ability | Knowledge (PEAK) Matrix for Insurance BPO. The PEAK Matrix is a framework to assess the absolute market success and overall capability of service providers. These service providers are divided into three categories, Leaders, Major Contenders and Emerging Players, based on market success and delivery capability.
“Beyond cost, effective technology and platform leverage, domain expertise, ability to delivery judgment oriented processes and a balanced shoring delivery model are emerging as winning themes in the insurance BPO marketplace. TCS’ demonstrated capability across several of these attributes helped it achieve the recognition,” said Rajesh Ranjan, Vice President, Everest Group.
“TCS’ experience and expertise in delivering complex insurance business processes, risk & actuarial work and its BaNCS insurance platform helped TCS win and deliver some of the largest and most complex business process transformation deals in the Insurance industry. Customers across all the insurance segments and geographies continue to see significant improvements in efficiencies and effectiveness as they leverage TCS’ BPO services. We are thus pleased to see Everest Group’s ranking, which recognizes the success of our approach,” said Abid Ali Z Neemuchwala, Global Head, BPO Services, TCS.
TCS has over three decades of experience partnering with over 90 regional and global insurers to achieve improved operational efficiencies, reduced costs and customer / partner satisfaction. TCS’ services span all insurance segments - Life, Healthcare, Property and Casualty (General Insurance) as well as Annuities, Pensions & Retirement and the complete lifecycle. TCS’ FORE™ transformation methodology, the TCS BaNCS suite of platform solutions and its Global Network Delivery Model (GNDM™) enables TCS to be a strategic and proactive growth enabler for its insurance customers.
About TCS’ Business Process Services
TCS’ Business Process Services are about managing and executing business operations. Our domain expertise helps deliver core business processing across industries, analytics and insights, and support processes such as accounting, HR and supply chain management. TCS partners with customers to accelerate co-transformation and generates business value for customers through delivery excellence, risk management and innovative models such as Platform BPO, which deliver process as a service. With over $1.1 billion in BPO revenues and 40,000+ employees across 11 countries delivering services to more than 200+ customers, TCS is one of the leading global domain-based BPO providers.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS,infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™,recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 300,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $13.4 billion for year ended March 31, 2014 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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