TCS has announced an expansion of its long-standing partnership with Phoenix Group, UK’s largest long-term savings and retirements provider, to digitally transform the latter’s ReAssure business using the TCS BaNCS platform.
Phoenix Group acquired ReAssure, a UK-based life insurance provider, in 2020, and has engaged with TCS to drive synergies and enhance customer experience for ReAssure’s policyholders. The partnership will result in a transformation of ReAssure’s operations, consolidating the heritage business on the TCS BaNCS-based digital platform used to administer Phoenix Group’s other books of business. Customer administration and the servicing of ReAssure’s 3 million policies will be managed by Diligenta, TCS’ regulated subsidiary in the UK, on behalf of Phoenix Group. The contract is valued at over £600 million.
