TCS Recognized as a Leader in Everest Group's Life & Pensions Insurance Digital Services PEAK Matrix™
Deepthi | Myequity news | Date : 04-03-2019 18:05:00 IST
Tata Consultancy Services (TCS), a leading global IT services, consulting, and business solutions organization, has been recognized as a Leader in the Everest Group PEAK Matrix™ for Life and Pensions (L&P) Insurance Digital Services.
In an assessment of 19 global service providers offering digital services to the L&P insurance segment, TCS was positioned highest for market impact and vision and capability. The report highlights TCS' ability to help customers achieve business outcomes through a combination of platform modernization and digital enablement, which in turn has helped it sign multiple large scale transformation deals. Another strength cited in the report is TCS' strong capabilities around channel modernization, customer experience, visual analytics, and automation.
"Global insurers are engaging in core system modernization and digital transformation in the life and pensions space to drive innovation, become more agile, improve customer experience, and forge ahead in their Business 4.0™ journeys," said K Krithivasan, President and Global Head, Banking, Financial Services and Insurance group, TCS. "Our recognition as a Leader in this independent third party assessment is a validation of our vision, capabilities, and market leadership in this space."
"The L&P insurance sector in the last 12-18 months can be characterized by a massive shift from applying digital levers at the peripheries to reimagining business and operating models by deploying digital technologies such as analytics, API-based integration, cloud, machine learning, and RPA. Although cost containment and efficiency gains are still on the top of their strategic agendas, significant investments are now pouring in to create a frictionless experience for end-customers," said Ronak Doshi, Practice Director, Everest Group. "Significant market success demonstrated by signing multiple large-scale business transformation engagements, deep domain expertise and investments in its Business 4.0 strategy framework to help insurers approach digital transformation in a holistic manner, and strong client feedback on diligent project execution have helped TCS secure a position as a Leader on the inaugural Everest Group L&P Insurance Digital Services PEAK Matrix™."
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for the last fifty years. TCS offers a consulting-led, Cognitive powered, integrated portfolio of IT, Business & Technology Services, and engineering.