Two Million UK Insurance Policies in Revolutionary Shift to Single IT Platform
LONDON, 27 July, 2010: Diligenta, a leading Business Process Outsourcing (BPO) provider in the UK and a subsidiary of Tata Consultancy Services (TCS) (BSE: TCS.BO, NSE: TCS.NS), the leading IT services, business solutions and outsourcing firm, announced today that it has completed the consolidation of two million customer policies in the UK from multiple legacy systems onto a single integrated system, using a simplified and modern Cloud infrastructure. These policies will now be based on the TCS BαNCS Insurance platform, a proprietary solution developed by the company.
Diligenta embarked on this innovative transformation programme with its first client, The Phoenix Group. The objective of the programme was to improve operational efficiency with a view to enhancing the customer experience for the policy holders.
Tony Kassimiotis, Managing Director, Operations, Phoenix Life said, “This is great news for our customers and will mean a better overall experience for them. For instance, two million of our policyholders will have, in due course, full access to self service and on- line request services through the internet. They will also see a reduction in turnaround times when asking questions about their policies. We are really pleased to be working with both TCS and Diligenta on this transformation programme and are looking forward to realising further benefits as we progress.”
This is also a significant capability achievement that will benefit future clients of Diligenta. The utility model will ensure that when Diligenta writes new contracts it can consolidate the policy portfolio of new customers onto the same TCS BαNCS Insurance platform. This will benefit both Diligenta and its clients through economies of scale with infrastructure and on-going operations and maintenance. A major benefit to clients will be Diligenta’s ability to react quickly and effectively to any major regulatory change. An additional service will be the option for customers to receive instant quotes for maturities, surrenders and transfers over the phone.
Phiroz Vandrevala, Chairman, Diligenta and Executive Director, TCS said, “The success of this transformation programme reinforces Diligenta’s strong position in the UK Life and Pensions outsourcing market and signifies a step change for the industry, in response to both regulatory reform and changing customer needs. We are well-placed to support customers’ needs in this rapidly-evolving environment, and this project once again demonstrates our ability to deliver real business benefits through our specialised industry expertise.”