TCS powers Aviva UK expansion with BaNCS
Leading insurance provider Aviva has strengthened its long-term partnership with Tata Consultancy Services. The move entrusts the IT service provider’s financial services platform with more than 6.5 million policies to transform the life and pensions customer experience.
Founded in 1968, Tata Consultancy Services (TCtS) is a digital transformation and technology partner of choice for industry-leading organizations worldwide. TCS BaNCS is the firm’s core suite of products which span banking, capital markets, and insurance, installed in more than 500 financial institutions worldwide. It is designed to help financial services institutions enhance end-customer experience, gain operational efficiency, and embrace open and innovative technologies.
As the insurance sector continues to digitalise, TCS has announced the expansion of its partnership with Aviva, one of the UK’s largest insurance, wealth and retirement providers. The end-to-end policy administration services partnership will now expand to cover more than 6.5 million policies, to be managed by TCS’ FCA-regulated subsidiary, Diligenta UK, on behalf of Aviva.
R Vivekanand, president for BFSI products and platforms at TCS, said, “Our enduring partnership with Aviva, established on mutual trust and commitment over many years, has continually strengthened and delivered a better experience for customers. Aviva’s ongoing trust in our services and, their decision to entrust us with additional portfolios, demonstrates the depth of our collaboration. We remain dedicated to delivering an exceptional experience for Aviva and its customers. We continue to invest in our TCS BaNCS platform and services to stay ahead in the fast-changing tech landscape, as we strive to enhance end-to-end customer experience benchmarks within the UK Life and Pensions industry.”
The move sees Aviva entrust TCS with an additional portfolio of Life Insurance business, enabling similar transformed services, experiences, and outcomes for Aviva’s customers that have characterised the long partnership between TCS and Aviva over the years. This aims to “enable a customer-centric approach to digitisation at an enterprise level which is centred around New Consumer Duty Principles to ensure positive outcomes for customers” – including “self-service capabilities for customers, digitally powered service delivery centres, and a simplified technology landscape.”
