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    What we do

    Where adaptability meets advantage

    At TCS, we don’t just help businesses transform. We help them become perpetually adaptive enterprises, built to evolve continuously and confidently in a world of constant change.

    Adaptability starts here
    • Industries
    • Services
    • Products and Platforms
    • Research & Innovation
    • Alliances
    • Banking
    • Capital Markets
    • Consumer Packaged Goods and Distribution
    • Communications, Media, and Information Services
    • Education
    • Energy, Resources, and Utilities
    • Healthcare
    • High Tech
    • Insurance
    • Life Sciences
    • Manufacturing
    • Public Services
    • Retail
    • Travel and Logistics
    • Artificial Intelligence and Data & Analytics
    • Cloud
    • Cognitive Business Operations
    • Consulting
    • Cybersecurity
    • Enterprise Solutions
    • IoT and Digital Engineering
    • Network Solutions and Services
    • TCS Interactive
    • Sustainability Services
    • TCS ADD™
    • TCS BANCS™
    • TCS BFSI Platforms
    • TCS CHROMA™
    • TCS Customer Intelligence & Insights™
    • TCS ERP on Cloud
    • ignio™
    • TCS iON™
    • TCS HOBS™
    • TCS Intelligent Urban Exchange™
    • TCS OmniStore™
    • TCS Optumera™
    • TCS Tap™
    • Quartz™ – The Smart Ledgers™
    • TCS TwinX™
    • TCS MasterCraft™
    • Jile™
    • TCS DigiBOLT™
    • TCS AI WisdomNext™
    • TCS Research
    • TCS Pace™
    Where adaptability meets advantage
  • Industries expand here
    • Banking
    • Capital Markets
    • Consumer Packaged Goods and Distribution
    • Communications, Media, and Information Services
    • Education
    • Energy, Resources, and Utilities
    • Healthcare
    • High Tech
    • Insurance
    • Life Sciences
    • Manufacturing
    • Public Services
    • Retail
    • Travel and Logistics
  • Services expand here
    • Artificial Intelligence and Data & Analytics
    • Cloud
    • Cognitive Business Operations
    • Consulting
    • Cybersecurity
    • Enterprise Solutions
    • IoT and Digital Engineering
    • Network Solutions and Services
    • TCS Interactive
    • Sustainability Services
  • Products and Platforms expand here
    • TCS ADD™
    • TCS BANCS™
    • TCS BFSI Platforms
    • TCS CHROMA™
    • TCS Customer Intelligence & Insights™
    • TCS ERP on Cloud
    • ignio™
    • TCS iON™
    • TCS HOBS™
    • TCS Intelligent Urban Exchange™
    • TCS OmniStore™
    • TCS Optumera™
    • TCS Tap™
    • Quartz™ – The Smart Ledgers™
    • TCS TwinX™
    • TCS MasterCraft™
    • Jile™
    • TCS DigiBOLT™
    • TCS AI WisdomNext™
  • Research & Innovation expand here
    • TCS Research
    • TCS Pace™
  • Alliances
  • Who we are

    We deliver excellence and create value for customers and communities.

    Our expert, committed team put our shared values into action – every day. With the best talent and the latest technology we help customers turn complexity into opportunities and create meaningful change.

    Discover the difference
    • Brand
    • Leadership
    • Community
    • Sustainability
    • Inclusion
    • Values
    We deliver excellence and create value for customers and communities.
  • Brand
  • Leadership
  • Community
  • Sustainability
  • Inclusion
  • Values
  • Insights

    Discover why customers choose TCS

    We are a digital transformation and technology partner of choice for industry-leading organizations worldwide.

    Read our customer success stories.
    • Events
    • Analyst Recognition
    • Global Studies

    Upcoming events

    27 Dec 2025 TCS at Guidewire Connections 2025
    01 Dec 2025 TCS at AWS re:Invent 2025
    18 Nov 2025 TCS is a Gamechanger Sponsor of Microsoft Ignite 2025
    View all

    Recent recognitions

    15 Oct 2025 From Technical Liability to Digital Dominance: Plaza Premium Group’s Bold Transformation
    06 Oct 2025 Unlocking the Future: 6G & AI for Telcos
    18 Sep 2025 Emirates NBD Transforms Payments and Reengineers Banking Operations
    View all
    Discover why customers choose TCS
  • Events
  • Analyst Recognition
  • Global Studies
  • Careers

    Want to be a global change-maker? Join our team.

    At TCS, we believe exceptional work begins with hiring, celebrating and nurturing the best people — from all walks of life.

    Join us
    • India
    • Americas
    • Asia Pacific
    • Europe and UK
    • Middle East and Africa
    • India
    • Argentina
    • Brazil
    • Canada
    • Chile
    • Colombia
    • Ecuador
    • Mexico
    • Peru
    • Uruguay
    • USA
    • Australia
    • Mainland China
    • Hong Kong SAR
    • Indonesia
    • Japan
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    • United Kingdom
    • Bahrain
    • Israel
    • Kuwait
    • Qatar
    • Saudi Arabia
    • South Africa
    • United Arab Emirates
    Want to be a global change-maker? Join our team.
  • India expand here
    • India
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    • Argentina
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    • Colombia
    • Ecuador
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    16 Oct 2025 NCVET Selected TCS to Develop a Portal Aimed at Democratizing the Vocational Skill Development Ecosystem in India
    16 Oct 2025 TCS and Infineon Partner to Redefine Digital Experience and Accelerate Sales Growth
    19 Sep 2025 TCS Interactive Opens Flagship Studio in New York City to Drive Innovation-led Experiences
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    • Insurance
    • Article

    Creating Shared Values and Shared Beliefs for Purpose-led Insurance

    3 MINS READ

    Share Creating Shared Values and Shared Beliefs for Purpose-led Insurance
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    Industry

    Insurance This will open an overlay

    Reinventing the Insurance Industry with a Digital-first Strategy

    TCS’ solutions, powered by AI and automation technologies, help leverage partner ecosystems and drive innovation in insurance for business agility and growth.
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    Highlights

    • Insurers are inculcating shared values as a part of their business strategy.
    • Companies focus on aligning employees to the shared value.
    • Shared value concepts will help insurance companies navigate this purpose-led journey and make a positive societal impact.

    Insights in this article

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    Focus on well-being Shared value Future shared value Creating value

    Prioritizing the well-being of the insured

    For the insurance industry, the evolution of shared values – from corporate social responsibility (CSR) through to corporate sustainability initiatives – has risen from the need to prioritize the well-being of the insured.

    As more and more insurers are inculcating shared values as a part of their business strategy, there is an important question about how to do this. This question can be answered better when companies, customers, and employees align their beliefs. Called ‘shared beliefs,’ these help companies focus on aligning employees to the shared value.

    Evolution of shared value through the years

    At its core, shared value is a combination of behavioral science and technology advances, where companies and customers share specific values for the overall betterment of society.

    The past

    ‘Shared value’ was formalized as a concept in 2011 by Porter and Kramer. However, there were some early adopters of the strategy before 2011. For example, as early as 1992, Discovery Insurance implemented the concept of incentivizing the customer for maintaining good health and completing health goals. This benefited the customer in meeting their health goals as well as that of the insurance companies, with less loss ratio. Further, it improved engagement with the customers throughout the policy lifespan and increased their loyalty. Later, this concept evolved into a behavioral framework and was adopted by many companies worldwide.

    Recent

    Advances in technology, such as high-speed mobility and wearables, have empowered decision-making capabilities with data abundance. Today’s insurers undertake continuous underwriting, and premiums are variable and decided based on the improvements in customers’ focus on health and safety. Insurance companies have a lot to gain from implementing the ‘shared value’ concept and be the trailblazers across industries. Through proactive investments in prevention, they benefit from lesser claim expenses. Auto insurance companies are incentivizing customers for better driving behavior through telematics. For instance:

    • A large property and casualty (P&C) insurer has a program that offers qualitative feedback to customers about their driving behavior along with incentives in case of improvement in driving.
    • A large North American healthcare provider created a strategy that enabled customers to become 20% fitter than before by 2020.
    • A youth-serving P&C insurer in the U.S. made an investment to avoid drowning deaths and, in turn, realized significant savings in the claims.
    • A North American worker compensation firm tied up with pharmacy groups and medical experts to reduce opioid dosage, which helped minimize worker death claims.
    • A large North American P&C insurer invests in safety innovations as a core strategy.
    • A large global insurer has created a specific cancer coaching program for better clinical outcomes in Australia.

     

    Future

    In the future, insurance companies will find several strategic opportunities supported by advanced technologies like 5G networks, quantum computing, real-time tracking of customers’ shared value goals, and so on. Insurance companies can reconceive their products to include impact initiatives, such as healthy aging, green energy implementation, measures to battle climate change, and inclusive businesses. 

    Inclusive businesses encompass underserved communities in their business value chain and aim at improving their living standards. Companies must also look inward to align with employees and reimagine productivity standards to deliver shared value.

    Creating value for business and society

    Often, insurance companies end up focusing on the big picture rather than on short-term financial goals. Given how their economic activities result in significant social change in the insurance space, adopting shared value principles has become imperative.

    Going forward, insurance companies will focus on prevention and not protection, improving health instead of depending on healthcare, and prioritizing safety over risk cover. In a nutshell, insurers will transform from profit-driven to purpose-driven entities, which will help them differentiate from the competition. That said, shared value concepts will help insurance companies navigate this purpose-led journey and make a positive societal impact.

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