Aviva locks in TCS for 15 more years in major deal

31 Jan 2024 , 10:47 AM

On January 30, Tata Consultancy Services (TCS) announced that Aviva has extended its partnership with the IT services major in a 15-year agreement to transform the company’s ‘UK Life business and improve customer experience.’

The deal size was not disclosed by TCS. As per news reports, however, that this will be a mega deal—a transaction typically valued at more than $500 million. The transaction follows a traditionally lacklustre quarter in which no significant acquisitions were recorded for the largest IT services company in the nation.

TCS has been working with Aviva for 20 years. With the implementation of TCS BaNCS under this new arrangement, Aviva’s end-to-end policy administration and servicing will be transformed, enabling it to serve more over 5.5 million policies. On behalf of Aviva, this will also be overseen by Diligenta, TCS’s UK subsidiary subject to FCA regulation.

‘Extending this strategic partnership will improve our customer service, further simplify our operations, and support our growth ambitions,’ stated Doug Brown, CEO of Aviva’s Insurance, Wealth & Retirement division. It will enable us to streamline our operations and boost productivity, which will be extremely advantageous for both the company and its clients.

‘Our long-standing relationship with Aviva over the last 20 years is a testament to our joint efforts to consistently and continuously transform customer experience,’ said R Vivekanand, President of BFSI Products & Platforms at TCS.

With over 200 of the leading companies in the UK, including British Airways, Virgin Atlantic, Sainsbury’s, Nationwide, M&S, Asda, and Boots, TCS has been in operation in the nation for more than 45 years. In the UK market, TCS is a market leader in software and IT services. It is one of the largest employers of IT professionals in the UK and Ireland, with over 23,000 workers.

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