Vendor Analysis
published on Nov 03, 2021
Report Overview:
This NelsonHall vendor assessment analyzes TCS' offerings and capabilities in life, annuities, and pension operation transformation services.
Who is this Report for:
NelsonHall’s life, annuities, and pension operation transformation profile on TCS is a comprehensive assessment of TCS’s offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of digital services and life, annuities and pension operation transformation services and identifying vendor suitability for RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the life, annuities, and pension operation transformation sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of TCS’s life, annuities and pension operation transformation services offerings and capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base, including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization, including the location of delivery locations.
Key Findings & Highlights:
This NelsonHall vendor assessment analyzes TCS’s offerings and capabilities in life, annuities, and pension operation transformation services.
TCS offers end-to-end services and multiple digital transformation and solution offerings to life, annuities, and pension operations clients. BPO service offerings include agency management, new business setup, underwriting support, policy issuance, new group plan design and setup, member enrollments, billing and payments, renewal management, contributions processing, customer maintenance and plan management, contact center, policy administration, surrenders and withdrawals, claims administration and payouts, actuarial services and support functions like finance and accounting, analytics and insights, change management, operational risk management and compliance. TCS also offers enterprise services such as procurement, HR, business process management (BPM) and transformation consulting.
TCS is enhancing digital solutions and service offerings in new business set up for life, annuities, and pension clients. Comprehensive offerings are achieved through proprietary platforms and solutions, as well as the implementation of partner solutions/ working on partner platforms. TCS continues to invest in enhancing the proprietary BaNCS platform and offer machine learning and automation to enable straight-through-processing in client engagements. A new focus is to provide comprehensive new business setup services for clients.