TCS wins multimillion-euro AI powered services transformation deal with Canada Life

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, has signed a multiyear transformation and managed services agreement with Canada Life, a leading global life and pensions insurer. The partnership will support the modernisation of Canada Life's IT infrastructure services across its European Businesses.

As part of the agreement, TCS will leverage its AI & digital capabilities to modernise and manage Canada Life's data centres, core infrastructure, end-user computing, and software lifecycle management. The transformation will help improve operational resilience, increase automation, and enhance user experience for its customers.

The partnership combines TCS' technology prowess with the knowledge and experience of Canada Life teams. Together they will build a strong foundation for Canada Life's long-term technology modernisation journey. The program aims to deliver high-quality, cost-effective, performance driven IT services while helping Canada Life accelerate its technology strategy and achieve stronger business outcomes. The partnership will also help Canada Life scale its technology services more effectively and be nimble to changing business needs.

Caroline Dibbs, Chief Information & Transformation Officer, Europe said, "Working with TCS marks the next stage of our journey to modernise the technology foundations that underpin our business, and it was important to choose a partner that understands our long-term vision and shares our commitment to people and innovation.

TCS brings deep technical expertise, strong transformation capabilities and a collaborative approach that aligns well with our strategy. Together, we will deliver lasting improvements to the technology services and capabilities that support our business and the people who depend on it."

Vinay Singhvi, Head, UK & Ireland, Tata Consultancy Services, said, "We are delighted to be selected as the strategic partner for Canada Life's technology modernisation journey across the UK and Europe. This co-operation is a testament to our leadership in AI-led transformation, marking a significant step on our journey to becoming the world's largest AI-led technology services company. By leveraging our deep domain expertise, we will help Canada Life achieve greater operational efficiency, enhance resilience, and create a more agile, responsive IT ecosystem to support their long-term growth."

As part of the agreement, TCS will build its talent across infrastructure services in the UK, Ireland, the Isle of Man, and Germany. The company will invest in new learning, certification and career development opportunities.

TCS has a proven track record of enabling digital transformation for leading insurance, life, and pensions providers across the UK and Europe.

Working with Canada Life strengthens TCS' position as a preferred transformation partner for the BFSI sector and reinforces TCS' continued expansion in the UK and Ireland as a strategic hub for delivering highvalue, end-to-end services while enhancing its capability to deliver a comprehensive range of services to insurance clients across the region.

Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 2198.25 as compared to the previous close of Rs. 2239.60. The total number of shares traded during the day was 270021 in over 20992 trades.

The stock hit an intraday high of Rs. 2271.75 and intraday low of 2192.10. The net turnover during the day was Rs. 599815956.00.

Source : Equity Bulls

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TataConsultancyServices INE467B01029 TCS