Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader and Star Performer in the Everest Group PEAK Matrix™ for Property and Casualty (P&C) Insurance BPO Services1.
The report highlights TCS' investments in insurance-specific digital solutions to augment its digital positioning. It noted TCS' efforts to balance its technology backbone through a domain-infused approach to services and also emphasizes TCS' significant growth in revenue and geographically diverse client base.
"Insurance companies are adopting Agile methodologies and embracing automation and AI technologies as they undertake their transformation journey," said K Krithivasan, Global Head, Banking, Financial Services and Insurance, TCS. "Our recognition as a Leader and Star Performer by an independent third party research firm is a testament to our vision and capabilities, and market impact."
With over twelve years of experience in partnering with leading insurers across global markets, TCS has unmatched capability in bringing value to its customers across carriers, brokers, agencies and reinsurers giving TCS an unassailable lead in Property & Casualty Insurance. TCS has a comprehensive set of services across commercial lines, personal lines, specialty services, reinsurance and brokerage services.
TCS works with over 30 global insurers including three of the top ten global insurance carriers in the P&C space and two of the top five brokers globally with annual revenues ranging from $1 billion to over $35 billion.
Skand Bhargava, Practice Director, Insurance Business Process Services (BPS), Everest Group, said, "TCS' proprietary insurance-specific digital solutions, its Machine First™ Delivery Model and automation solutions, technology mettle, global reach, and domain-infused approach to services makes it a capable delivery partner in the P&C insurance operations market."
"With our unrelenting focus on customer centricity, investments in intelligent digital technologies, our deep understanding of insurance and the contextual knowledge acquired from working with leading P&C insurers, we are helping our customers accelerate their Business 4.0™ journeys," added Krithivasan.
Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2178.95 as compared to the previous close of Rs. 2167.4. The total number of shares traded during the day was 84031 in over 3675 trades.
The stock hit an intraday high of Rs. 2189 and intraday low of 2145.2. The net turnover during the day was Rs. 181873595.
1 Property and Casualty (P&C) Insurance BPO - Service Provider Landscape with Services PEAK Matrix™ Assessment 2019, Everest Group, Somya Bhadola, Skand Bhargava, Rohit Sharma, March 2019