Digital Transformation in Insurance

PRESS RELEASE

 

TCS Expands Digital Transformation Partnership with Dutch Insurer VIVAT

TCS’ Partnership Will Build on Existing Achievements and Help Transform VIVAT into a Leading Digital-First Insurer

AMSTERDAM | MUMBAI, April 1, 2019: Tata Consultancy Services (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has announced the expansion of its partnership with Dutch insurance firm VIVAT, the parent company of insurance brands Zwitserleven and Reaal, to leverage TCS’ strategic consulting services, thought leadership, and innovation.

The new partnership will build on the success TCS has achieved with VIVAT since the two companies started working together in 2014. TCS has been helping the insurer in its various digital transformation initiatives, including the consolidation of VIVAT’s customer data on a single CRM platform, which will lead to service improvements across the customer lifecycle.

Marcel van de Lustgraaf, General Manager DTC of VIVAT, said, “Our long-term goal at VIVAT is to be a leading digital-first insurance provider in the Netherlands. In today’s business environment, this means adopting an ambitious digital transformation agenda to provide our customers with the personalized service they expect and deserve. TCS has been indispensable in helping us build a solid digital foundation for our business, and we look forward to working with them to develop exciting new value propositions for our customers.”

Forward looking insurance companies like VIVAT are investing in technology to deliver superior customer experiences and gain competitive differentiation in the Business 4.0 era,” said Hemakiran Gupta, BFSI - Business Unit Head - North West Europe, TCS “We are excited to continue to be their strategic and transformation partner in their journey to become the most customer-friendly insurer in the Netherlands.

VIVAT’s brands collectively have over 150 years of expertise in the life insurance, pension, travel insurance, car insurance and asset management sectors, and are unified by its mission statement of making its customers’ financial choices easy. With a balance sheet of over €56 billion, VIVAT is one of the largest insurance and asset management companies in the Netherlands.

TCS works with top insurers around the world, providing innovative solutions and digital transformation services that addresses business challenges such as rising customer and agent expectations, new risks such as cyber security, legacy system maintenance, increasing regulatory compliances, and the rise of non-traditional competitors. TCS has been repeatedly ranked a leader in various industry analyst assessments of digital capabilities in the insurance domain.

TCS has been present in the Netherlands and Benelux region since 1992, and has continuously invested in the local market to build a strong reputation for superior outcomes and customer satisfaction. TCS works with over 80 customers in the wider Benelux region, including three of the top five banks in the region, and KLM, Netherlands’ flagship airline.

About VIVAT

VIVAT NV is the holding company for, among others, SRLEV NV, VIVAT Schadeverzekeringen NV, Proteq Levensverzekeringen NV, ACTIAM NV and Zwitserleven PPI NV. VIVAT’s subsidiaries are also active on the Dutch market with, among others, the Zwitserleven, Reaal and ACTIAM brands. A balance sheet total of EUR 56 billion (end of December 2018) makes VIVAT one of the largest insurers in the Netherlands. Anbang Group Holdings Co. Ltd., a full subsidiary of Anbang Insurance Group Co. Ltd, is the sole shareholder of VIVAT NV. For more information please visit www.vivat.nl.

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 fifty years. TCS offers a consulting-led, Cognitive powered, integrated portfolio of IT, Business & Technology Services, and engineering. 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 417,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $19.09 billion for year ended March 31, 2018 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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