TCS Partners with Transamerica to Digitally Transform its Life and Annuities Business
NewsPatrolling.com : “Tata Consultancy Services (TCS) announced that it has entered into an agreement with Transamerica, a leading provider of life insurance, retirement and investment solutions, to enable the transformation of administration of its U.S. insurance & annuity business lines. The partnership enables Transamerica to rapidly enhance its digital capabilities, simplify the service of more than 10 million policies into a single integrated modern platform, and drive greater sustainable growth opportunities through superior customer experiences. The agreement, a multi-year partnership with more than US$2bn of revenues to TCS and is expected to be completed by the second quarter 2018. Thus, the deal will fully reflect in FY2019. The agreement is expected to lead to annual run-rate savings of approximately US$70mn initially – growing to US$100mn over time – for Transamerica. We currently maintain our REDUCE rating on the stock with a price target of INR 2442.”
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