TCS secures multi-year deal from Athora Netherlands; stock gains

1 Sep 2023 , 12:24 PM

Tata Consultancy Services announced on Thursday that it has secured a multi-year contract to design a new business and IT operating model for longstanding client Athora Netherlands, a Dutch life insurance and pension provider. The financial insights of the transaction were not disclosed.

TCS will induct several Athora Netherlands employees from its life service business as part of the expanded relationship and will establish a nearshore delivery facility in Alkmaar, close to Athora’s business hub in the Netherlands. The number of personnel who will be rebadged has not been disclosed by the corporation.

This collaboration with TCS will help Athora Netherlands achieve its Ambition 2025 program for becoming a leading, focused pension and life insurance provider. As part of this multi-year agreement, TCS will manage the entire business and IT operations for Athora’s closed book of life insurance policies under the Reaal brand, including policy servicing, claims management, and customer care.

TCS will assist in the establishment of a hybrid cloud architecture based on TCS Enterprise Cloud and driven by the TCS Alpha Platform. The inducted workers will continue to manage the Life Service Business on a daily basis in order to ensure the smooth continuation of services to Athora’s customers.

At around 12.16 PM, TCS was trading 0.67% higher at Rs 3,379.20 per piece, against the previous close of Rs 3,356.80 on NSE. The counter touched an intraday high of Rs 3,389.

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