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Tata Consultancy Services’ integrated IT-BPS capabilities, consulting-led engagements, diversified geographical presence, comprehensive capabilities and TCS BaNCS offering, cited as key strengths
NEW YORK | MUMBAI, July 17, 2025: Tata Consultancy Services (TCS) has been positioned as a Leader in Everest Group’s Life & Annuities (L&A) Insurance BPS and Third-Party Administrator (TPA) PEAK Matrix®. Of the 24 leading service providers assessed in the report, TCS was placed highest for its Vision, Capability and Market Impact. TCS was recognized as a Leader for integrating emerging technology like gen AI into existing service offerings, propriety platforms for L&A, and a consulting-driven approach.
Highlighting the depth and breadth of TCS’ capabilities in L&A insurance BPS and value delivery, the report says: “TCS has a well-diversified geographical presence, with significant penetration in UK, a notable footprint in North American markets, and ongoing expansion in Europe and the emerging APAC region.” The report goes on to mention the strong focus that TCS has on securing transformation-driven deals by leveraging its integrated IT-BPS capabilities.
It ascribes TCS’ robust growth in 2024 to the acquisitions of the new clients and the expansion of existing client relationships, primarily through consulting-led engagements. Additionally, the report speaks about how TCS utilizes its comprehensive suite of in-house offerings, including TCS BaNCSTM, to pursue transformational deals. TCS’ domain expertise, flexible engagement models, and implementation capabilities are cited as the key differentiators that help TCS effectively address client needs.
“Progressive L&A insurers are harnessing AI and other emerging technologies to revolutionize business operations. The shift to a digitally powered enterprise is in full swing, with insurers placing a high value on product and service innovation to meet customer, regulatory and market needs. TCS is helping accelerate this transition with its AI and machine learning expertise, continuous investments in building intellectual property and partnership with insurtechs. We are bringing the twin power – talent and technology to help L&A insurers create exponential value and deliver impactful solutions to their customers,” said Shankar Narayanan, Business Head, Banking, Financial Services & Insurance, TCS. “This position as a Leader is a reflection of our vision, strategy, capabilities and the resultant market impact.”
TCS offers a comprehensive portfolio of services catering to all stakeholders in the enterprise, across the end-to-end spectrum of business functions for life, annuities and retirements product providers. It provides futuristic solutions to global insurance players in driving growth, transformation and superior customer experience. TCS has made strategic investments to enable the realization of its vision for life, annuities and retirements business process services, including a suite of cognitive automation and digital transformation solutions. Further, the company has established its strength in IT-BPS integrated delivery, added licensed entities across global locations, new delivery centers to enable delivery of licensed services / near shore or onshore operations.
TCS has implemented various prototypes and proofs of concept around AI and Gen AI as part of transformation programs to make a positive impact on customer experience and reduce the cost of operations.
In the current macroeconomic environment of uncertainties, TCS believes that cost reduction will be a major priority for insurers. TCS enhances its services by integrating operations and cognitive intelligence offerings to be a one-stop shop for all insurance related services, eliminating the need for insurers to engage with multiple service providers/ partners. With its deep domain knowledge, innovative offerings, and IT expertise, TCS helps clients reimagine customer experience and reduce risks.
“TCS harnesses its strategic partnerships with insurtech firms, alongside its proprietary suite of solutions, to stay at the forefront of digital transformation trends in the L&A insurance sector,” said Sahil Chaudhary, Practice Director, Everest Group. “Additionally, TCS has secured several large-scale transformations deals in the retirement and group life segments, driven by its consulting-led engagement leveraging IT-BPS synergies. It has further expanded its footprint by establishing new delivery centers in the Netherlands, Ireland, and Mexico. These initiatives collectively have helped reinforce TCS's position as a Leader in Life and Annuities (L&A) Insurance BPS and Third-Party Administrator (TPA) PEAK Matrix® Assessment 2025.”
Disclaimer
Licensed extracts taken from Everest Group’s PEAK Matrix® Reports may be used by licensed third parties for use in their own marketing and promotional activities and collateral. Selected extracts from Everest Group’s PEAK Matrix® reports do not necessarily provide the full context of our research and analysis. All research and analysis conducted by Everest Group’s analysts and included in Everest Group’s PEAK Matrix® reports is independent and no organization has paid a fee to be featured or to influence their ranking. To access the complete research and to learn more about our methodology, please visit Everest Group PEAK Matrix® Reports.
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