Tata Consultancy Services (TCS) recently announced a game-changing 15-year partnership with Aviva, aimed at enhancing the management of over 5.5 million Life and Pensions policies.
The collaboration marks a significant stride in the UK’s financial services and pensions sector, showcasing a commitment to leveraging digital technologies for better customer experiences.
TCS has been at the forefront of driving innovation in the industry, exemplified by its notable achievements. One such milestone is the Phoenix Group agreement, wherein TCS’s UK regulated subsidiary, Diligenta, will manage 3 million policies.
Valued at over £600 million, the new comprehensive contract entails end-to-end business transformation, including administration services.
Additionally, the company has played a vital role in supporting Nest, the digital auto-enrolment pension scheme, since its inception. TCS’s contribution involved building a robust system capable of accommodating Nest’s rapid growth as it emerged as a leading retirement savings provider for millions of workers.
The ongoing collaboration underscores TCS’s dedication to pioneering solutions that cater to evolving industry needs and empower individuals in securing their financial futures.
The recent agreement with Aviva not only signifies a continuation of the fruitful collaboration between the two entities but also marks a significant leap forward in their joint endeavors.
TCS has been entrusted with the task of revolutionizing Aviva’s UK Life business and elevating customer satisfaction by harnessing the power of the TCS BaNCS-based platform.
This partnership aims to expand the breadth of end-to-end policy administration and servicing to encompass more than 5.5 million policies, overseen by Diligenta on behalf of Aviva. The shared commitment to delivering industry-leading standards through digital transformation promises to enhance the overall experience for Aviva’s customers.
Through the integration of self-service capabilities, digitally-driven service delivery centers, and a streamlined technology infrastructure, Aviva’s customers can anticipate faster issue resolutions, improved access to information, and ultimately, more favorable outcomes.
The concerted effort underscores TCS and Aviva’s dedication to delivering cutting-edge solutions that prioritise customer satisfaction and drive sustainable growth.
According to Aviva CEO Doug Brown the partnership was mutually beneficial, stating, “Extending this strategic partnership will improve how we serve our customers, further simplify our operations and support our growth ambitions.
“It will allow us to rationalise our systems and improve efficiency, bringing significant benefits for our customers and the business.” said Brown.
R Vivekanand, President of BFSI Products & Platforms at TCS, suggested the sentiments and emphasized the mutual dedication to enhancing customer experience.
He said, “Our enduring partnership with Aviva spanning over the last 20 years exemplifies our collective commitment to perpetually transforming customer experiences.
“We are thrilled to embark on the next phase of this journey, where our continuous investment in the TCS BaNCS-based platform and our established track record will empower Aviva to foster a customer-centric approach,”
“Together, we aim to set new standards for end-to-end customer experience within the UK Life and Pensions industry.” said Vivekanand.
This development further propels the remarkable growth trajectory that TCS has been experiencing in the UK. With a robust portfolio of clients including:
- British Airways
- Virgin Atlantic
- Sainsbury’s
- Nationwide
- M&S
- Asda, and Boots
Employing over 23,000 staff across the UK and Ireland, TCS stands as one of the largest IT employers in the area. The company’s extensive presence and successful partnerships underscore its pivotal role in driving technological innovation and supporting the growth of businesses across various sectors in the UK.
