Everest Group PEAK Matrix Positions TCS as a Leader in Insurance Business Process Outsourcing
Report cites TCS' Scale and Technology Capability as the Source of its Market Success
MUMBAI, India, Jan. 17, 2013 /PRNewswire/-- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced today that it has been designated as a Leader in Insurance BPO in the Everest Group report 'A PEAK into the Leaders, Major Contenders and Emerging Players of Insurance BPO'. Among the attributes that earned TCS the prominent position are its Market Success, Scale, and its strong technology capability characterized by TCS BaNCS Suite of platforms for Insurance.
In this report, Everest Group analyzed the position of 10 service providers on the Everest Group Performance | Experience | Ability | Knowledge (PEAK) Matrix for Insurance BPO. The PEAK Matrix is a framework to assess the absolute market success and overall capability of service providers. These service providers are divided into three categories, Leaders, Major Contenders, and Emerging Players, based on market success and delivery capability.
"Beyond cost, effective technology and platform leverage, domain expertise, ability to delivery judgment oriented processes, and a balanced shoring delivery model are emerging as winning themes in the Insurance BPO market place. TCS' demonstrated capability across several of these attributes helped it achieve the recognition," said Rajesh Ranjan, Vice President, Everest Group.
"TCS's experience and expertise in delivering complex insurance business processes, risk & actuarial work and its BaNCS Insurance platform has helped TCS win and deliver some of the largest and most complex business process transformation deals in the Insurance industry. Customer's across all the insurance segments & geographies continue to see significant improvements in efficiencies & effectiveness as they leverage TCS BPO Services. We are thus pleased to see Everest Group's ranking which recognizes the success of our approach," said Abid Ali Z Neemuchwala, Global Head, BPO Services.
TCS has over three decades of experience partnering with over 90 regional and global insurers to achieve improved operational efficiencies, reduced costs and customer / partner satisfaction. TCS services span all insurance segments - Life, Healthcare, Property and Casualty (General Insurance) as well as Annuities, Pensions & Retirement and span the complete life-cycle. TCS' FORE™ transformation methodology, the TCS BaNCS suite of platform solutions and its Global Network Delivery Model GNDM™ enables TCS to be a strategic and proactive growth enabler for its Insurance customers.
About TCS BPO
Business Process Services (BPO) at TCS is about managing and executing business operations. Our domain expertise helps deliver core business processing across industries, analytics & insights and support processes such as accounting, HR and supply chain management. TCS partners with customers to accelerate co-transformation, and generates business value for customers through delivery excellence, risk management and through innovative models such as Platform BPO which delivers process as a service. With over $ 1.1 B in BPO revenues and 40,000+ employees across 11 countries delivering services to over 200+ customers, TCS is one of the leading Global Domain based BPO providers.
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 263,000 of the world's best-trained consultants in 42 countries. The company generated consolidated revenues of US $10.17 billion for year ended March 31, 2012 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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SOURCE Tata Consultancy Services
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