Tata Consultancy Services said it won a 15-year deal from Scottish Widows insurance company to provide end-to-end policy administration services for its 4 million heritage customers.
The deal from the Lloyds Banking Group’s Life and Pensions unit was won by TCS’s UK subsidiary Diligenta, which provides outsourcing services to the insurance industry.
“Diligenta will provide Scottish Widows these services based on TCS BaNCS, its digitally-enabled, end-to-end policy administration platform, to manage its assets in life, pensions and investment products,” the outsourcing company said.
Based in Mumbai, India, TCS offers IT services, consulting and business solutions.
A part of the Tata group, India’s largest industrial Conglomerate, TCS has over 385,000 consultants in 46 countries.
The Company generated consolidated revenues of U.S. $17.6 billion for year ended March 31, 2017.
Scottish Widows was formed in March 1812 when a number of prominent Scotsmen gathered in the Royal Exchange Coffee Rooms in Edinburgh.
They were there to discuss setting up ‘a general fund for securing provisions to widows, sisters and other female relatives’ of fundholders so that they would not be plunged into poverty on the death of the fundholder during and after the Napoleonic Wars.