TCS wins multi-million euro deal from Canada Life
What's the story
Tata Consultancy Services (TCS) has won a multi-year, multi-million euro contract from Canada Life, one of the world's leading life and pensions insurers. The deal is for the modernization of Canada Life's IT infrastructure across Europe. Under the partnership, TCS will use its artificial intelligence (AI) and digital capabilities to manage and modernize data centers, core infrastructure, end-user computing systems, and software lifecycle management at Canada Life.
Operational improvement
Deal to improve Canada Life's ability to scale technology services
The program is part of Canada Life's long-term technology modernization strategy. It is expected to improve the insurer's ability to scale technology services and respond more quickly to changing business requirements. Vinay Singhvi, Head of UK & Ireland at TCS, said this partnership highlights their growing focus on AI-led transformation. He added that they will help Canada Life achieve greater operational efficiency, resilience, and agility in its IT operations through this engagement.
Talent investment
TCS to invest in talent development across infrastructure services
As part of the agreement, TCS will invest in talent development across infrastructure services in the UK, Ireland, Isle of Man, and Germany. This investment will be through training, certification and career development programs. The deal comes as Indian IT services firms are vying for big contracts in Europe amid slower discretionary spending in North America.
Market expansion
Deal bolsters TCS's position in insurance sector
The deal with Canada Life bolsters TCS's position in the insurance sector and expands its footprint in the UK and Ireland market. Caroline Dibbs, Chief Information and Transformation Officer for Europe at Canada Life, said they chose TCS for its technical expertise, transformation capabilities, and collaborative approach. She added that this partnership will help strengthen the technology services and capabilities supporting their business.