Aviva Wins Model Insurer Award for Automating and Simplifying its Pensions Operations with TCS
Tata Consultancy Services-built Digital Platform Processes Transactions in Real-time and Automates the End-to-end Customer Journey, Providing Enhanced Customer Experience
LONDON | MUMBAI, August 17, 2020: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting, and business solutions organization, announced that its customer Aviva Plc has won the 2020 Celent Model Insurer Award for Legacy and Ecosystem Transformation.
As Aviva’s strategic partner, TCS leveraged its Machine First™ Delivery Model to automate and transform the insurer’s pensions operations. The program’s agile-led methodology entailed seamless collaboration between the business sponsors and the automation team. TCS created a single adaptive and user-friendly digital platform powered by third-party Robotic Process Automation (RPA) and Business Process Management (BPM) tools, making the insurer’s operations future-proof, resilient, and sustainable.
This eliminated manual touchpoints and improved data exchange among different core and supporting systems. Aviva saw improved response time for customer journeys and significant reduction in customer service calls across all pension-related products. Through the new platform, Aviva will now be able to process all of their pension transactions faster and with significant improvements in response time for customer journeys, ranging from 60 percent to 99 percent.
“At Aviva, our goal is to be best in class and it starts with a relentless focus on our customers. TCS’ Machine First approach helped us simplify our business, offer faster and superior customer experiences, and enhance operational resilience. This award is testament to our continued investment in digital technology towards building a better tomorrow for our customers,” said Ajit Dhaliwal, Global IT Platforms Director, Aviva.
“We congratulate Aviva on this recognition from Celent for unlocking opportunities with an innovative approach to transforming their legacy core,” said Vinay Singhvi, Business Unit Head, BFSI – UK and Ireland, TCS. “With TCS’ Machine First approach, Aviva has been able to integrate fragmented processes, increase efficiency, and empower business users with data-driven insights.”
“Globally, insurers face the challenge of running a complex system landscape and architecture stemmed from multiple mergers and acquisitions over the years. The use of a unique approach to legacy system modernization through a BPM and RPA platform helped Aviva meet their customers’ rising demands and drastically improve the customer journey,” said Nicolas Michellod, Head of Insurance, APAC and EMEA, Celent. “The unique solution implemented by TCS, helped Aviva to provide an employee-friendly insurance platform, meet the stringent enterprise security and compliance requirements and provide resiliency in changing market conditions.”
Aviva is a leading international savings, retirement and insurance business. Our aim is to earn our customers’ trust as the best place to save for the future, navigate retirement and insure what matters most to them. Last year, we paid c.£33 billion in claims and benefits on behalf of our 33 million customers.
We operate through five business divisions: Investments, Savings & Retirement; UK Life; General Insurance; Europe Life; and Asia Life; and focus on three strategic priorities: deliver great customer outcomes, excel at the fundamentals and invest in sustainable growth.
Total group assets under management at Aviva group are £501 billion (as at 30 June 2019) and our Solvency ratio is 195% (3Q19). Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index. For more details on what we do, our business and how we help our customers, visit www.aviva.com/about-us
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 over 50 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 AgileTM 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 443,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22 billion in the fiscal year ended March 31, 2020, 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.www.tcs.com.
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