OREANDA-NEWS. January 22, 2013. Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions organisation, announced today that it has been designated as a leader in insurance BPO in the Everest Group report – A PEAK into the Leaders, Major Contenders and Emerging Players of Insurance BPO. Among the attributes that earned TCS the prominent position are its market success, scale and its strong technology capability characterised by the TCS BaNCS suite of platforms for insurance.

In the report, Everest Group analysed the position of 10 service providers on the Everest Group PEAK (performance, experience, ability, knowledge) Matrix for capital markets BPO. The PEAK Matrix is a framework to assess the absolute market success and overall capability of service providers. These service providers are divided into three categories – leaders, major contenders and emerging players – based on market success and delivery capabilities.

“Beyond cost, effective technology and platform leverage, domain expertise, ability to delivery judgment oriented processes and a balanced shoring delivery model are emerging as winning themes in the insurance BPO marketplace. TCS demonstrated capability across several of these attributes, which helped it achieve the recognition," said Rajesh Ranjan, vice president, Everest Group.

“TCS's experience and expertise in delivering complex insurance business processes, risk and actuarial work and its BaNCS insurance platform has helped TCS win and deliver some of the largest and most complex business process transformation deals in the insurance industry. Customers across all insurance segments and geographies continue to see significant improvements in efficiencies as they leverage TCS BPO services. We are thus pleased to see Everest Group's ranking which recognises the success of our approach," said Abid Ali Z Neemuchwala, global head, BPO services, TCS.

TCS has over three decades of experience, partnering with over 90 regional and global insurers to achieve improved operational efficiencies, reduced costs and customer / partner satisfaction. TCS services span all insurance segments - life, healthcare, property and casualty (general insurance) as well as annuities, pensions and retirement, and span the complete life cycle. TCS’s FORE transformation methodology, the BaNCS suite of platform solutions and its Global Network Delivery Model enables TCS to be a strategic and proactive growth enabler for its insurance customers.