Tata Consultancy Services has been recognized as a leader in the Everest Group PEAK Matrix® for Life & Annuities (L&A) insurance application and digital services. TCS was placed highest for its vision and capability in an assessment of 21 global service providers offering application and digital services to L&A insurers.
Highlighted as a key differentiator is the targeted investments of TCS to solve IT needs of the insurers such as actuarial advisory and business services to build solutions, frameworks, training, and other business or IT issues for actuarial services. The report recognized the continued efforts of TCS towards building a comprehensive innovation footprint through investments into solutions such as the Personality Radar Solution, offerings such as innovation forums (open discussion on innovation themes), BFSI Innovation-as-a-Service (providing insurance thought leadership), and an Al Studio.
“TCS is helping insurers adopt a purpose-driven, ecosystem-led approach to explore new business models, launch new products and services, enhance customer experiences and establish competitive differentiation in the post-pandemic world,” stated K Krithivasan, Business Group Head, Banking, Financial Services & Insurance, TCS. “This recognition by an independent third-party research firm is a validation of our vision, rich domain capabilities, investment in innovation and customer-focused offerings across the L&A value chain.”
