TCS Opens North America Insurance Hub for Business Operations in Cedar Rapids, Iowa
- TCS Welcomes 800+ Former Transamerica Employees to its Cedar Rapids and Iowa Operations
- Positively Impacts Local Economy, while Helping to Transform Transamerica’s Insurance and Annuities Business
CEDAR RAPIDS | MUMBAI, April 17, 2018: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today celebrated the opening of its North America Insurance hub for business operations in Cedar Rapids, Iowa. TCS also welcomed more than 800 new employees who will work in the region, making TCS one of the city’s largest local employers.
TCS will occupy the 4333 Edgewood Road NE building in Cedar Rapids. This move, part of a multi-year relationship between TCS and Transamerica, will transform the administration of Transamerica’s U.S. insurance and annuity business lines, accelerate the enhancement of its digital capabilities and modernize its platforms to service all lines of its business customers.
“Iowa is proud to welcome the TCS North America Insurance hub to Cedar Rapids,” said Governor Kim Reynolds. “This move is a positive one, not only for the local business environment, but also for our state’s leadership on the national stage in the insurance industry.”
“Today, the Cedar Rapids community proudly welcomes TCS, as they instantly became one of our city’s largest employers,” said Cedar Rapids Mayor, Brad Hart. “TCS is a highly respected international company, known for being a great corporate citizen and giving back to the community. We are happy they chose to plant roots here in Cedar Rapids, and look forward to their continued growth in our city.”
TCS will now administer Transamerica’s life insurance, annuity, supplemental health insurance, and workplace voluntary benefits products, and manage the administration of more than 10 million policies., TCS also plans to expand its flagship goIT and Ignite My Future in School programs into Cedar Rapids in 2018 and beyond, to engage with students and teachers, and inspire more underserved youth to pursue critically needed computer science education and digital skills that will power 21st century careers.
“Transamerica is pleased to join forces with TCS as administrator for our annuity and certain insurance business lines, due to their expertise and continual enhancements to technology,” said Mark Mullin, Transamerica President and Chief Executive Officer. “Transamerica will continue to focus on our digital engagement platforms and new solutions that help people save, protect, invest, and retire.”
“We have a rich legacy of helping American businesses grow and transform since 1971, and our relationship with Transamerica will improve their customer experience in a digitally enabled way,” said Suresh Muthuswamy, President and Global Head, Banking, Financial Services and Insurance Platforms, TCS. “As a top employer, we have been attracting the best local talent across the U.S. and are proud to welcome more than 800 Iowans to our workforce. We look forward to partnering with the state, city and local organizations to improve economic, workforce and social outcomes for the community.”
TCS has invested nearly $3 billion in the U.S. over the past three years and is among the top two job creators in IT services in the U.S. It is also one of America’s 50 most community-minded organizations, engaging nearly two million Americans through its extensive nationwide STEM education programs, academic partnerships and endowments to schools such as Carnegie Mellon University, Cornell Tech and Massachusetts Institute of Technology.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions provider that has been partnering with the world’s largest businesses in their transformation journeys for the last fifty 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, a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 390,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $17.6 billion for the year ended March 31, 2017 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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