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TCS
Indian IT giant Tata Consultancy Services (TCS) has entered into a strategic partnership with Standard Life International DAC (SLIDAC), a wholly-owned subsidiary of the Phoenix Group.
As part of the partnership, the company aims to transform its operating model and enhance the customer experience for its policyholders in Europe, using the TCS Digital Platform for Life and Pensions powered by TCS BaNCS.
TCS has had a long-standing partnership with the Phoenix Group in the UK, where its UK subsidiary Diligenta has digitally transformed the operating model and administers more than 10 million policies for the latter.
With this partnership, TCS will set up a customer operations centre in Germany and a future-ready Life and Pensions Digital Platform for Germany and Austria, with capabilities to extend into other European markets.
The company said it will initially transform and migrate more than 400,000 policies comprising SLIDAC’s German and Austrian life and pension books to its platform and create comprehensive, omnichannel, journey-based digital experiences for policyholders and advisors.
The platform’s configurability and a rich functionality will enable SLIDAC to launch innovative new products more quickly, improve risk management and controls, and strengthen regulatory compliance. At a strategic level, this business transformation initiative will enable SLIDAC’s and Phoenix Group’s ability to quickly respond to changes in its European markets and seize new opportunities for growth.
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