Tata Consultancy Services is Leveraging its Machine First™ Approach to Help the Insurer Transform into a Data-driven and Digitally Nimble Organisation
LONDON | MUMBAI, July 01, 2021: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has expanded its strategic partnership with Royal London, the largest mutual life insurance, pensions and investment company in the UK, to help the latter transform its pensions platform estate and deliver market-leading services to members and customers.
TCS has been engaged with Royal London in various consulting, innovative, thought leadership engagements as well as strategic programs like DevOps initiatives, platform simplification and migration, and Run transformation to enable the insurer to adapt swiftly to future needs.
As part of the expanded partnership, TCS will work collaboratively with Royal London to support its ambition to transform into a data-driven and digitally nimble insurer. TCS will leverage its Machine First™ Delivery Model (MFDM™) and Location Independent Agile™ model to help the company achieve its digital strategy, gain business agility, and drive deeper customer relationships. TCS will also enable technology transformation to rationalise the IT estate, increase the pace of change, enhance operational resilience, and reduce risk exposure.
“Our strategy as an insight led modern mutual recognises that we need to drive change and keep pace with the world around us, to build a business that supports the future needs of our customers and markets,” said William Pritchett, Group Chief Information Officer, Royal London. “We partnered with TCS to leverage their expertise, capability and capacity in the insurance business domain and proven track record of enabling similar transformations within the financial services sector. We want to reduce complexity in our day-to-day business and empower our employees to respond to customer’s needs by being data led and digitally nimble.”
“We are delighted to partner with Royal London in their endeavour to optimize their services, reduce operational risks and maintain their market leadership. We will continue to use our industry expertise, contextual knowledge, agile methodology and innovation framework to help Royal London achieve its digital ambition and strategic growth,” said Vinay Singhvi, BFSI Business Unit Head – UK and Ireland, TCS.
Royal London is the largest mutual life insurance, pensions, and investment company in the UK, with assets under management of £148 billion, 8.8 million policies in force and 4,412 employees. Figures quoted are as at 31 December 2020.
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 Agile™ 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 488,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021, 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 MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com and follow TCS news at @TCS_News.
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