On Wednesday, Tata Consultancy Services (TCS) announced that it has been selected as a strategic partner for managed IT services by AG, a leading Belgian insurer, to help enhance the latter's digital channels and modernize its IT systems, leveraging TCS' Machine First approach.
AG is a leading insurance company in Belgium with over 2.7 million customers. It provides a full spectrum of insurance offerings, including life insurance, auto, fire and civil liability insurance as well as employee benefits.
"The insurer has partnered with TCS to transform its technology stack and adapt to the changing expectations of its diverse range of customers," TCS said in a stock exchange filing.
"AG will leverage TCS' technology expertise and extensive experience in the insurance domain to modernize its application stack and enhance current core insurance services and digital channels. The outcome of this partnership will be a robust, future-proof IT foundation that will improve agility, strengthen operational resilience, and deliver superior user and customer experiences," it said.
"Additionally, TCS will creatively leverage its investments in research and innovation around technologies like IoT, big data, blockchain, machine learning and AI to help AG reimagine products, processes and services. In this co-innovation journey, TCS teams will work closely with the insurer's business users as well as promising startups from TCS' Co-innovation Network, through the discovery, definition, refinement and delivery phases leveraging the facilities at the TCS Pace Port," the statement added.
Shares of TCS were trading lower than its previous close after the announcement at Rs 2,620.30.