Standard Life International DAC, a fully owned subsidiary of the Phoenix Group, has awarded a contract to Tata Consultancy Services, the firm announced. SLIDAC intends to use the TCS Digital Platform for Life and Pensions, which is supported by TCS BaNCS, to revamp its operational strategy and improve the customer experience for its policyholders across Europe. Finances for the deal were not made public.
A customer operations centre and a future-ready Life and Pensions Digital Platform for Germany and Austria, with the ability to expand into other European markets, will be established in Germany by TCS as part of this cooperation.
TCS and the Phoenix Group have a long-standing relationship in the UK, where TCS UK subsidiary Diligenta manages more than 10 million policies for the former. The digital experience will be extended to policyholders in Germany and Austria by the two organisations, and then in additional European markets.
“Leveraging the advantages of our strategic relationship with TCS, a leading global organization, will support our growth strategy in Europe and bring benefits to both our customers and advisers," said Nigel Dunne, CEO, Standard Life International DAC.
Over 400,000 policies from SLIDAC's German and Austrian life and pension books will be transformed and migrated to TCS's platform in the beginning. TCS will also provide comprehensive, omnichannel, journey-based digital experiences for policyholders and advisers.
“We are delighted to expand our long-standing partnership with the Phoenix Group to include SLIDAC’s policyholders in Europe, and extend to them, the same digital omnichannel experiences that have made us a market leader in the United Kingdom,” said R Vivekanand, President, BFSI Products & Platforms, TCS.
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