Report Cites Tata Consultancy Services’ Insurance-specific Digital Solutions and Domain-infused Approach to Services, as Strengths
NEW YORK | MUMBAI, June 10, 2019: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader and Star Performer in the Everest Group PEAK Matrix™ for Property and Casualty (P&C) Insurance BPO Services.
The report highlights TCS’ investments in insurance-specific digital solutions to augment its digital positioning. It noted TCS’ efforts to balance its technology backbone through a domain-infused approach to services and also emphasizes TCS’ significant growth in revenue and geographically diverse client base.
“Insurance companies are adopting Agile methodologies and embracing automation and AI technologies as they undertake their transformation journey,” said K Krithivasan, Global Head, Banking, Financial Services and Insurance, TCS. “Our recognition as a Leader and Star Performer by an independent third party research firm is a testament to our vision and capabilities, and market impact.”
With over twelve years of experience in partnering with leading insurers across global markets, TCS has unmatched capability in bringing value to its customers across carriers, brokers, agencies and reinsurers giving TCS an unassailable lead in Property & Casualty Insurance. TCS has a comprehensive set of services across commercial lines, personal lines, specialty services, reinsurance and brokerage services.
TCS works with over 30 global insurers including three of the top ten global insurance carriers in the P&C space and two of the top five brokers globally with annual revenues ranging from $1 billion to over $35 billion.
Skand Bhargava, Practice Director, Insurance Business Process Services (BPS), Everest Group, said, “TCS’ proprietary insurance-specific digital solutions, its Machine First™ Delivery Model and automation solutions, technology mettle, global reach, and domain-infused approach to services makes it a capable delivery partner in the P&C insurance operations market.”
“With our unrelenting focus on customer centricity, investments in intelligent digital technologies, our deep understanding of insurance and the contextual knowledge acquired from working with leading P&C insurers, we are helping our customers accelerate their Business 4.0™ journeys,” added Krithivasan.
About Everest Peak Matrix™: Everest Group’s PEAK Matrix™ assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products & solutions within various market segments. Likewise, providers of these services, products, and solutions, look to the PEAK Matrix to gauge and calibrate their offerings against others in the industry or market. Leading organizations around the globe trust these comparative assessments because of their unbiased evaluation of factors such as vision, capabilities/functionality, talent availability, market success/impact, and cost.
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 the last fifty years. TCS offers a consulting-led, cognitive powered, integrated portfolio of it, business & technology services, and engineering. 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 424,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.90 billion for year ended March 31, 2019 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.
 Property and Casualty (P&C) Insurance BPO – Service Provider Landscape with Services PEAK Matrix™ Assessment 2019, Everest Group, Somya Bhadola, Skand Bhargava, Rohit Sharma, March 2019
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