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TCS named a leader in Application and Digital Services (ADS) in the Life and Annuity (L&A) Insurance PEAK Matrix® Assessment 2023 by the Everest Group.
In the recent years, insurance carriers have been leveraging emerging technologies such as RPA, AI, ML, wearables, and IoT to achieve business-oriented outcomes and improve the end experience for both policyholders and agents or brokers. Service providers can help enterprises successfully implement this target state vision and overcome challenges in talent shortages, change management, and long-term profitability. In an assessment of 21 leading insurance IT service providers, TCS was ranked highest for its vision and strategy, the scope of service, and strong portfolio mix, which resulted in significant value delivery and market impact. Here are the highlights from the report:
1) TCS has a well-diversified revenue base across North America, Europe, the UK, and other geographies, in addition to a balanced presence across onshore, nearshore, and offshore locations among its peer set.
2) TCS' deep domain experience, customer context awareness, and innovation pedigree, combined with the COIN (Co-innovation) ecosystem, has enhanced its relevance as a trusted advisor and end-to-end transformation partner.
3) Its continued focus on investments in developing solutions and accelerators, such as Insurance Agent 720 analytics solution to enhance agent experience and ESG integration solution built on AWS to measure ESG for investment analysis and leveraging the acquisition of BridgePoint group to improve domain knowledge across the retirement and pensions value chain, have strengthened its value proposition for L&A insurers.
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