Tata Consultancy Services (TCS) has expanded its long-standing partnership with Phoenix Group, UK’s largest long-term savings and retirements provider, to digitally transform the latter’s ReAssure business using the TCS BaNCS platform.
Phoenix Group acquired ReAssure, a UK-based life insurance provider, in 2020, and has engaged with TCS to drive synergies and enhance customer experience for ReAssure’s policyholders. The partnership will result in a transformation of ReAssure’s operations, consolidating the heritage business on the TCS BaNCS-based digital platform used to administer Phoenix Group’s other books of business. Customer administration and the servicing of ReAssure’s 3 million policies will be managed by Diligenta, TCS’ regulated subsidiary in the UK, on behalf of Phoenix Group. The contract is valued at over £600 million.
TCS 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 over 50 years.
