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TCS wins $2-billion order from US insurer

TCS said it will digitise the life insurance and annuities business of Transamerica, which is a provider of life insurance, retirement and investment solutions in the US. (Source TCS/twitter)

TCS said it will digitise the life insurance and annuities business of Transamerica, which is a provider of life insurance, retirement and investment solutions in the US. (Source TCS/twitter)

The country’s largest IT services exporter Tata Consultancy Services (TCS) has bagged a multi-year contract from Transamerica worth over $2 billion, the company announced on Friday. TCS had, last month, entered into a $2.25-billion IT outsourcing contract with Nielsen, a global TV rating measurement company.

TCS said it will digitise the life insurance and annuities business of Transamerica, which is a provider of life insurance, retirement and investment solutions in the US. This will amount to servicing 10 million insurance policies through a single platform. The agreement is expected to lead to annual run-rate savings of about $70 million initially, going up to $100 million over time, for Transamerica, with much of this expected to reflect in the company’s earnings.

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Credit: indianexpress.com

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