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PRESS RELEASE
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TCS recognized for its insurance domain knowledge and insurance applications outsourcing market success
Mumbai, November 14, 2011: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading consulting, business solutions and IT services organization, today, announced that Everest Group, an advisory and research firm on global services, has recognized TCS as a leader in insurance domain knowledge and in the insurance applications outsourcing market in its November 2011 report.
The Everest Group evaluated leading global IT vendors servicing large (>US$25 million), multi-year (>3 years) applications outsourcing engagements specific to the insurance sector in terms of delivery capability and market success. The evaluation was based on the five key dimensions of the group’s proprietary PEAK Matrix: market success, scale, scope, domain investments and delivery footprint. On an aggregate basis, TCS received the highest rating out of all the service providers in the analysis of delivery capability and the second highest rating in the analysis of market success (based on transaction activity).
“This report reaffirms our position as a global leader and innovator in providing domain led services to the insurance industry,” said Suresh Muthuswami, President, Insurance and Healthcare, TCS. “Our best-in-class application development, process optimization, legacy modernization, digital strategy and analytics offerings combined with our insurance industry expertise enables our clients to transform their business and enhance their customer centricity.”
“Extensive scale backed by significant domain investments has enabled TCS to win several large deals in the insurance AO space. With momentum across all the sub-verticals of the insurance industry, TCS has established itself as a market leader in this space” said Amneet Singh, Vice President, Global Sourcing, Everest Group.
About Everest Group
Everest Group is an advisor to business leaders on next generation global services with a worldwide reputation for helping Global 1000 firms dramatically improve their performance by optimizing their back- and middle-office business services. With a fact-based approach driving outcomes, Everest Group counsels organizations with complex challenges related to the use and delivery of global services in their pursuits to balance short-term needs with long-term goals. Through its practical consulting, original research and industry resource services, Everest Group helps clients maximize value from delivery strategies, talent and sourcing models, technologies and management approaches.. Established in 1991, Everest Group serves users of global services, providers of services, country organizations and private equity firms, in six continents across all industry categories. For more information, please visit www.everestgrp.com and www.everestresearchinstitute.com.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™,recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 300,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $13.4 billion for year ended March 31, 2014 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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