TCS and Tryg sign €550 million digital transformation deal

Tata Consultancy Services (TCS) has entered into a €550 million agreement with Tryg, a Scandinavian non-life insurance company, to support a large-scale digital transformation over the next seven years.

The deal expands a 15-year partnership between the two companies. Under the agreement, TCS will manage application development, IT infrastructure, end-user services, and cybersecurity for Tryg across Denmark, Sweden, and Norway. The goal is to simplify operations, consolidate systems, and build a unified digital model for managing business across these markets.

TCS plans to use artificial intelligence (AI) and cloud-based technologies to automate processes, streamline operations, and strengthen IT capabilities. The initiative will support Tryg’s “United Towards 27” strategy, which aims to simplify IT systems, reduce complexity created through growth and acquisitions, and create capacity to develop new digital solutions for its more than six million customers.

The partnership is also expected to improve efficiency, reduce operational costs, and accelerate the launch of new services. By consolidating IT functions, the companies aim to create a scalable and sustainable technology ecosystem that can better support Tryg’s long-term growth.

Johan Kirstein Brammer, Group CEO, Tryg, said, “We are simplifying our IT landscape enabling us to further invest in new technology and develop our business across Scandinavia. This means we can deliver the best customer experiences, continue to differentiate Tryg in the market, and strengthen our competitiveness.”

K Krithivasan, CEO, Tata Consultancy Services, said, “By combining TCS’ best-in-class Cloud and AI capabilities with our expertise in the insurance sector, we will help Tryg accelerate its transformation into an agile, technology-led enterprise with AI at its core. ”