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TCS gets $750 million mega order from UK insurer

Feb 8, 2023

By: BlinkX Research Team

Tata Consultancy Services (TCS), India’s largest IT company, has secured a mega deal in the UK. This marks the largest UK deal for TCS in 3 years through an agreement with the Phoenix Group holdings, the insurance holding company. 

Now, it is official that London based Phoenix Group Holdings PLC has given TCS a comprehensive contract worth more than £600 million or nearly $750 million to digitally transform its product offering.

The order is likely to be extremely critical for TCS in its breadth and depth of execution skills required. TCS will assist the British insurer to transform its end-to-end customer service into a package of self-service across channels. 

In addition, TCS will also create the necessary algorithms for the necessary analytics and decision support systems to enhance customer satisfaction and improve substantially on customer retention.

It may be recollected that TCS already has an Innovation Lab in the UK and plans to leverage this franchise. At the Innovation Lab of TCS, contextual experts and solution architects keep looking for new and innovative ways to harness digital technologies. The end goal is to enhance the experience for policyholders, advisers and for the company too.

The project will also work on consistent and continuous customer service quality improvement.

How will Phoenix benefit from these in terms of deliverables? According to the CEO of Phoenix group, the deep transformation will ensure that customers of Phoenix gain from the clear digital focus. 

This will enable clear and consistent customer journeys and eventually translate into customer delight. Incidentally, one of the cornerstones of the TCS BANCS platform is customer experience transformation. It is expected to set a benchmark in the UK insurance industry.