Software services firm Tata Consultancy Services said it has expanded its digital-transformation partnership with Dutch insurer Vivat NV, to further build on the tie-up that has been in place since 2014.
TCS said in a statement that it has been helping the insurer in its various digital transformation initiatives, including the consolidation of Vivat’s customer data on a single customer relationship management (CRM) platform.
“Our long-term goal at Vivat is to be a leading digital-first insurance provider. In today’s business environment, this means adopting an ambitious digital transformation agenda to provide our customers with the personalised service they expect and deserve," said Marcel van de Lustgraaf, chief information officer of Vivat.
Lustgraaf said that the partnership with TCS has been indispensable for the company in building its digital foundation. The deal is expected to lead to service improvements across the customer lifecycle by developing new value propositions for Vivat, he added.
Vivat’s brands provide insurance products across segments like life, pension, travel, car and asset management. It has a balance sheet of over 56 billion euros and is one of the largest insurance and asset management companies in the Netherlands.
Hemakiran Gupta, banking, financial services and insurance - business unit head for North West Europe, TCS, said, “Insurance companies like Vivat are investing in technology to deliver superior customer experiences and gain competitive differentiation in the modern business era.”
TCS said that the insurance sector faces business challenges such as rising customer and agent expectations, new risks such as cybersecurity, legacy system maintenance, increasing regulatory compliances, and the rise of non-traditional competitors.
The Tata group firm has been present in the Benelux region (Belgium, The Netherlands and Luxemburg region) since 1992. The company said that it has continuously invested in the market and works with over 80 customers in the wider Benelux region, including three of the top five banks in the area, apart from KLM, the Netherlands’ flagship airline.