TCS, Phoenix Group enter strategic alliance to transform customer experience

8 Feb 2023 , 10:24 AM

TCS announced an expansion of its long-standing partnership with Phoenix Group, the UK’s largest long-term savings and retirements provider, to digitally transform the latter’s ReAssure business using the TCS BaNCS platform.

Phoenix Group bought ReAssure, a UK-based life insurance provider, in 2020 and has now partnered with TCS to drive synergies and improve the customer experience for ReAssure’s policyholders. The expanded partnership will result in the transformation of ReAssure’s operations, with the heritage business being consolidated on the same future-proof TCS BaNCSTM-based digital platform that Phoenix Group uses to administer its other books of business.

Diligenta, TCS’ regulated subsidiary in the UK, will manage customer administration and servicing for ReAssure’s 3 million policies on behalf of Phoenix Group. The contract for complete business transformation, including administration services, is worth more than £600 million.

TCS’ solution will assist Phoenix in transforming end-to-end customer service via self-service across channels and analytics to improve customer satisfaction and retention.

TCS will use its UK Innovation Lab, where contextual experts and solution architects look for new ways to harness digital technologies to improve the experience for policyholders, advisers, employers, and operational staff, as well as to continuously improve service quality for Phoenix Group’s customers, stated TCS in its media filing.

On a strategic level, this business transformation initiative will integrate the ReAssure business into the resilient platform that has enabled Phoenix Group to respond quickly to changes in the environment and seize new growth opportunities.

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