Tata Consultancy Services (TCS) has announced a new tech contract with Aviva, the UK’s Insurance, Wealth, and Retirement provider. The 15-year plan aims to revolutionize Aviva’s UK Life business, focusing on the enhancement of customer experiences through the utilization of TCS’s BaNCS based platform.
TCS did not reveal the size of the IT contract.
As a part of this collaboration, the policy administration and servicing will cover over 5.5 million policies. The responsibility for managing these policies will be shouldered by Diligenta, TCS’s FCA-regulated subsidiary in the UK, acting on behalf of Aviva.
Over the years, Aviva and TCS have transformed the entire customer journey, employing digitization and simplification strategies. Aviva has enlisted TCS to extend this enhanced customer experience using the future-proof TCS BaNCS based digital platform for administering other Aviva books of business.
TCS’s approach to digitization is customer-centric, aligning with the New Consumer Duty Principles. The focus is on delivering positive customer outcomes through self-service capabilities, digitally powered service delivery centers, and a streamlined technology landscape.
TCS, leveraging its BaNCS based platform and contextual knowledge, aims to improve service quality and enhance the experience for all stakeholders, including policyholders, advisers, and operational staff. This initiative is expected to result in quicker resolutions, improved access to information, and overall better outcomes for Aviva’s customers.
“Extending this strategic partnership will improve how we serve our customers, simplify our operations, and support our growth ambitions. It will allow us to rationalize our systems and improve efficiency, bringing significant benefits for our customers and the business,” Doug Brown, CEO Insurance, Wealth & Retirement at Aviva, said.
“Our ongoing investment in our TCS BaNCSTM based platform and proven track record will enable Aviva to drive a customer-centric business, even as we continue to improve end-to-end customer experience benchmarks in the UK Life and Pensions industry,” R Vivekanand, President, BFSI Products & Platforms at TCS, said in a news statement.
TCS BFSI Platforms is an end-to-end digital ecosystem powering the journeys of life, pensions/annuities, property/casualty, and health insurance providers. This SaaS-first platform assists companies in managing enterprise simplification, delivering superior customer experience, and achieving digital transformation.
TCS has operated for over 45 years and works with over 200 of the nation’s leading businesses. TCS, known for its leadership position in software and IT services, currently employs over 23,000 people in the UK and Ireland.