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AEGON signs new five-year IT transformation deal with HCL

Posted On: 2018-12-10 14:49:32

HCL Technologies (HCL), a leading global technology company, today announced a new five-year contract with multinational life insurance, pensions and asset management company Aegon. The application services deal will see HCL continue as Aegon's digital transformation partner, helping to accelerate innovation by establishing and managing a new multi-vendor ecosystem. HCL will also help implement an agile delivery model to reduce Aegon's time to market and introduce greater efficiencies through improved application lifecycle management and automation.

Headquartered in The Hague, Netherlands, Aegon serves nearly 29 million customers and employs over 28,000 people worldwide. HCL has been a strategic IT services partner to Aegon Netherlands since 2004. During that time, it has delivered application services, partnered in transforming Aegon's data and analytics capabilities, and helped the insurer to achieve digital leadership through a joint cXstudio, which fosters co-innovation. Aegon wants to build digital at scale to improve customer self service and extend its leadership position.

"Our business strategy is centred on digital-first, which is paramount to our ability to drive service innovation, attract new customers and to drive efficiencies," said Anke Schlichting, CTo at Aegon. "As a result, it's crucial that we continue to accelerate time to market and have a vendor ecosystem that gives us access to the best capabilities the industry has to offer. We've established a strong relationship with HCL over the last 14 years and its intimate knowledge of our business is an important pillar underlying our partnership. HCL's, in-depth understanding of the vendor ecosystem and significant experience being part of multi-vendor environments for other major global organizations were the key deciding factors."

"We're looking forward to continuing our support for Aegon on its successful digital leadership journey," said Sudip Lahiri, SVP and Head of Financial Services, Europe at HCL Technologies. "Aegon was one of HCL's first major customers in continental Europe and we are especially proud of what we've accomplished to date. Our relationship with Aegon really demonstrates the scale of the success that can be achieved through a true partnership approach, where both parties have invested heavily in a culture of co-innovation and collaboration."

HCL works with over 100 organizations in the insurance sector globally, providing services that blend an unrivalled depth and breadth of industry knowledge with a rich set of core capabilities in business consultancy, claims management, insurance claims management, integration and applications management.

Shares of HCL TECHNOLOGIES LTD. was last trading in BSE at Rs.961.55 as compared to the previous close of Rs. 1011.95. The total number of shares traded during the day was 559292 in over 15337 trades.

The stock hit an intraday high of Rs. 1001 and intraday low of 935. The net turnover during the day was Rs. 535038193.


Source: Equity Bulls

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