TCS subsidiary Diligenta consolidates 2 million UK insurance policies
A subsidiary of India’s largest software exporter Tata Consultancy Services (TCS) and a top BPO services vendor in the UK, Diligenta has announced that it has accomplished the consolidation of 2 million insurance policies in the UK from the multiple legacy systems on a solitary integrated system by means of a basic and contemporary cloud infrastructure. A statement issued by the company said that henceforth these insurance policies would be rooted in the BaNCS insurance platform, a patented solution developed by TCS.
A financial news website reports that Diligenta had initiated this pioneering conversion program with the BPO’s maiden client – The Phoenix Group. The purpose of the program was to enhance operating competence with the intention of improving customer experience for the Phoenix Life policy-holders.
According to Phiroz Vandrevala, TCS executive director and Diligentas chairman, the success of this conversion program underlines the strong position of the company in the life and pensions outsourcing market in the UK and indicates a change of step for the BPO industry, vis-à-vis regulatory restructuring as well as the shifting customer requirements. Vandrevala said that Dligenta was well-placed to take care of the requirements of the customers in this quickly-developing milieu. He added that the new project has once again expressed the company’s aptitude to provide real business advantages through its expert industry know-how.
Another website report quotes Phoenix Life managing director (operations) Tony Kassimiotis as saying that this is indeed good news for their clients and in general, would denote an improved experience for them. Citing an example, he said that in due course two million policy holders of the company would have complete access to self service as well as online request services by means of the Internet. Kassimiotis further said these two million policy holders would also witness a decrease in processing period while making inquiries regarding their policies.
In fact, the new development is also a noteworthy capability accomplishment which will do well for Diligenta’s prospective clients too. The utility form will make sure that when Diligenta enters into new deals it can strengthen the strategy portfolio of new customers on the same BaNCS insurance platform patented by TCS. In other word, it both Diligenta as well as its clients would stand to gain through reduction in long-run average and marginal costs with infrastructure and continuing operations as well as maintenance. One of the important benefits to the clients would be Diligenta’s capability to respond faster and successfully to any key regulatory change. In addition, the customers will also have the option to receive instantaneous quotes regarding maturities, transfers and surrenders over the phone.