TCS leader & star performer in Insurance Application Outsourcing

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Mumbai: Tata Consultancy Services (TCS) has been recognized for the second year in a row by Everest Group as a Leader and Star Performer in insurance application outsourcing (AO). The report, “IT Outsourcing in Insurance – Service Provider Landscape with PEAK Matrix™ Assessment 2013,” recognized TCS for its delivery capabilities, including scale, scope, domain investments, delivery footprint, and buyer satisfaction.

TCS was named a Leader, the highest rating according to Everest Group’s PEAK Matrix™ framework, on the basis of overall market success and delivery capability. While market success was based upon annualized contract value, delivery capability was measured by the ability to deliver services successfully along the five sub-dimensions of scale, scope, domain investments, delivery footprint, and client satisfaction. TCS was also awarded the Star Performer rating based on year-on-year movement on the PEAK Matrix™ and top performance in both market success and capability advancement.

According to Everest Group, Leaders have a larger scale along with broader and deeper client relationships, higher technology capability and investment in tools and platforms, and wider delivery footprint and global delivery presence. “TCS strengthened its Leadership positioning through all round capability and market success enhancements,” the report stated. It added, “TCS is a Star Performer for a second year in a row and the only Leader with a star performer rating owing to the highest annual growth rate in the Insurance ITO segment”.

“The insurance industry continues to be a major adopter of consulting, IT and business process services as a result of consumerization, market consolidation, regulatory reforms, and emergence of new technologies,” said Jimit Arora, VP of Everest Group.

“This recognition again by Everest Group is a testament to TCS’ commitment and unique ability to enable insurance organizations through innovation, customer service, operations and technology excellence to address the transformative shifts underway in the business, regulatory and technology environments,” said Suresh Muthuswami, President of TCS’ Insurance & Healthcare Business. “In our role as a global strategic business partner, we are increasingly enabling insurers to not just operate with greater efficiencies but to also operate differently by transforming into more agile and customer centric organizations”.

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