Indian IT major Tata Consultancy Services Ltd says that its BPO subsidiary in the UK, Diligenta, has won two life and pension contracts totaling 250 million pounds in revenue in the United Kingdom. While Unisys Insurance Services Limited (UISL) transferred its UK life and pensions service business to Diligenta, its contract with Phoenix Life has been extended by an additional six years, TCS said in a regulatory filing.
It said Diligenta will begin delivering the services currently provided to UISLs clients effective September 1, 2010. Diligenta was selected as the preferred bidder following a rigorous selection process, added the statement.
TCS set up Diligenta to specialize in the provision of business process outsourcing service for the UK life and pensions industry. These new wins further cement the companys position amongst the largest providers of such services in the UK market and demonstrates our ability to closely partner with our customers, said Surech Menon, CEO, Diligenta.
Toni Kassimiotis, managing director Operations, Phoenix Life said the deal preserves continuity of its UISL-serviced policy holders, whilst promising a migration to the more modern administration platform already being operated by Diligenta for two million of Phoenixs policies.
Earlier, Diligenta had announced that it completed the consolidation of two million customer policies in the UK from multiple legacy systems on to a single integrated system.