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TCS expands partnership with Phoenix Group
IT services major Tata Consultancy Services (TCS) on Tuesday said its partnership with Phoenix Group, Europe's largest life and pensions consolidator, has been expanded to cover an additional 4.2 million policies.
New Delhi: IT services major Tata Consultancy Services (TCS) on Tuesday said its partnership with Phoenix Group, Europe's largest life and pensions consolidator, has been expanded to cover an additional 4.2 million policies.
"This will expand the overall scope by a further 4.2 million policies, taking the total number of policies managed by Diligenta, TCS' regulated subsidiary in the UK, on behalf of Phoenix Group, to nearly 10 million," TCS said.
The transformation is expected to take approximately three years to complete, with a number of Standard Life Assurance employees transferring to TCS by the end of that period, it added.
A key element of the partnership is TCS' commitment to expand its already significant Scottish presence and establish a TCS technology and operations service hub in Edinburgh with a skilled team of experts from Standard Life.
Additionally, the hub will provide opportunities for Standard Life's and TCS' product experts to collaborate with end-users to envision new offerings, the filing said.
"Working in partnership with TCS will support our growth strategy in the workplace market and bring benefits to workplace clients and scheme members," Standard Life Assurance CEO Susan McInnes said.