Tata Consultancy Services (TCS) has expanded its agreement with M&G Prudential, the
UK and European savings and investments business of Prudential plc.
The 10 year partnership, which was announced in January 2018, will digitally transform M&G Prudential’s business and deliver enhanced service for its UK savings and retirement customers.
The agreement will now cover an additional 1.8 million customer policies which will move from M&G Prudential to TCS, bringing the number of policies covered by the partnership to 5.8 million, and is worth an additional £500 million or $668 million over the term of the contract.
TCS is the market leader in UK life and pension administration, with more than 18 million policies being administered by its BFSI Digital Platform, powered by TCS BaNCS.
Around 400 roles from M&G Prudential across a number of UK sites will be transferred under the TUPE arrangements to TCS’ FCA-regulated, UK subsidiary. 183 roles in India are also expected to move from M&G Prudential to TCS.
