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Highlights
- UK’s largest long-term savings and retirements provider Phoenix Group expands its strategic partnership with TCS. See the full media coverage in the links below.
- Phoenix Group acquired ReAssure, a UK-based life insurance provider, in 2020 and will use the TCS BaNCS™ platform to drive synergies and enhance customer experience for ReAssure’s policyholders.
- Customer administration and servicing of ReAssure’s 3 million policies will be managed by Diligenta, TCS’ regulated subsidiary in the UK, on behalf of Phoenix Group. The contract for the end-to-end business transformation, including administration services, is valued at over £600 million.
TCS has announced an expansion of its long-standing partnership with Phoenix Group, UK’s largest long-term savings and retirements provider, to digitally transform the latter’s ReAssure business using the TCS BaNCS platform.
Phoenix Group acquired ReAssure, a UK-based life insurance provider, in 2020, and has engaged with TCS to drive synergies and enhance customer experience for ReAssure’s policyholders. The partnership will result in a transformation of ReAssure’s operations, consolidating the heritage business on the TCS BaNCS-based digital platform used to administer Phoenix Group’s other books of business. Customer administration and the servicing of ReAssure’s 3 million policies will be managed by Diligenta, TCS’ regulated subsidiary in the UK, on behalf of Phoenix Group. The contract is valued at over £600 million.
The announcement was covered globally. Explore the links below to learn more.
TCS Scores $700 Million Deal to Digitize UK Insurer’s Products
Date: February 8, 2023
TCS Expands Partnership With U.K.'s Phoenix Group With £600-Million Deal
Date: February 8, 2023
TCS Scores $700 Million Deal In UK, Its Largest In 3 Years
Date: February 8, 2023
$723 Million! TCS Bags Its Largest UK Deal As It Seals Contract To Digitise London Based Insurer’s Products
Date: February 8, 2023
TCS inks $723-mn deal with Phoenix Group
Date: February 8, 2023
Swipe LeftSwipe RightTCS Scores $700 Million Deal to Digitize UK Insurer’s Products.
Bloomberg.com
February 8, 2023
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