NEW YORK and MUMBAI, India., April 25, 2016 /PRNewswire/ -- Tata Consultancy Services, (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, has been recognized as a Leader for the fifth consecutive year in Everest Group's report, "IT Outsourcing in Insurance – Service Provider Landscape PEAK Matrix™."
This report examines the service provider landscape for large, multi-year application outsourcing relationships in the global insurance sector. The capabilities of 21 leading AO service providers were analyzed and mapped on Everest Group's Performance, Experience, Ability, and Knowledge (PEAK) Matrix, a composite range of distinct metrics that measures each provider's capability and market success.
The report highlights TCS' strong focus on innovation and its use of digital themes to launch targeted solutions; its deep domain expertise; broad portfolio of insurance products, including TCS BaNCS; large client base; and breadth and depth of insurance expertise. TCS was also recognized for its ability to source the right mix and quality of resources, agile delivery models and strong leadership.
"As insurers invest in digital technologies in order to launch differentiated products and services, enhance customer experience and contain costs, IT service providers have an immediate opportunity to tailor their offerings with next-generation technologies," said Jimit Arora, Partner, Everest Group. "TCS has demonstrated a strong commitment to advancing digital innovation and has augmented its portfolio with new solutions and accelerators in the areas of predictive analytics, telematics, mobility, and risk assessment, to capitalize on the evolving market needs and strengthen its Leaders position."
"TCS has a strong leadership in digital technologies and is dedicated to enabling its customers to re-imagine their businesses and drive transformation in new and innovative ways," said Suresh Muthuswami, President and Global Head, Insurance and Healthcare, TCS. "Acknowledgement by the Everest Group is a testament to our consistent commitment to provide tangible and advanced value to all of our clients."
About TCS Insurance
With more than four decades of experience in working with insurers globally, TCS delivers solutions and services to help insurers meet rising customer and agent expectations, address non-traditional competitors, manage low investment yields, and drive growth in emerging global markets. TCS enables insurers to transform, enhance business agility, improve operational efficiencies, and increase customer engagement, while ensuring regulatory compliance. We leverage the combined expertise of our industry trained and LOMA, LIMRA, CPCU certified consultants to support the entire value chain for Life, Annuities and Pensions, Property and Casualty, Health, Commercial, and Reinsurance companies.
For more information about TCS' Insurance Business Unit, visit us at www.tcs.com/insurance.
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 353,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $16.5 billion for year ended March 31, 2016 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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SOURCE Tata Consultancy Services