Zurich Germany selects TCS to digitally transform life insurance business

Tata Consultancy Services (TCS) said that it has been made the exclusive strategic IT partner by Zurich Insurance Germany (Zurich Germany) for its life insurance IT landscape.

The Indian IT company has been partnering Zurich Insurance Germany since 2016. It is said to have been closely working to deliver major business initiatives in general insurance, sales and customers, and life legacy portfolios.

Through the expanded partnership, Tata Consultancy Services will help Zurich Insurance Germany in modernizing, transforming, and handling the entire application estate underpinning its life insurance business. Besides, the insurer will be assisted in enhancing and standardizing IT and business processes, expedite cloud and digital adoption, and bring in technical and domain innovation at scale.

Jens Becker — Zurich Group Germany CIO said: “Zurich is on a transformation journey – an “accelerated evolution” – with the aim of improving our digital capabilities, accelerating the development of new solutions and thus modernizing the IT landscape. We are creating a strong new foundation that will help us maintain our growth trajectory while focusing on customer experience.

“Due to their excellent delivery competence, strong customer orientation and technical expertise, we have been working successfully with TCS for several years, and are now building this into a strategic partnership, selecting TCS as the exclusive partner for the life insurance domain.”

Zurich Insurance Germany selects Tata Consultancy Services to digitally transform life insurance business. Photo courtesy of Naveen.kumar.kotta/Wikipedia.org.

By utilizing its vast contextual knowledge of the insurer’s IT and business landscape and experience in innovation-led business transformations, Tata Consultancy Services will help the former optimize the customer journey with digitalization and process simplification, boost customer experience, and increase the use of the bancassurance channel.

Besides, the Indian IT giant will tap its innovation centers and capabilities for helping Zurich Insurance Germany scale its efforts in innovation at speed and roll out new digital services and products.

Tata Consultancy Services said that it will help Zurich Insurance Germany adopt a new IT operating model by making use of both DevSecOps and automation. This will help the insurance company to launch innovations faster to market, and improve the digital customer journey, said the Indian firm.

Furthermore, Tata Consultancy Services will also closely work with the insurer’s IT in joint agile teams to develop a stronger internal IT core competency by utilizing its Talent Transformation framework.

Uma Rijhwani — Tata Consultancy Services Central Europe Business Unit Head of Banking, Financial Services, and Insurance said: “We are delighted to expand our partnership with Zurich Insurance Germany to drive their digitalization and transformation agenda.

“Given TCS’ deep experience in the insurance industry, strong talent pool, and innovation hubs such as TCS Pace Port, we are uniquely positioned to help Zurich Insurance Germany in their growth and transformation journey and enhance their competitive differentiation to become a market leader.”