Tata Consultancy Services Completes Policy Migrations for Lloyds Banking Group's Scottish Widows

Tata Consultancy Services (TCS) has completed policy migrations for Lloyds Banking Group's Scottish Widows. TCS is a leading Indian IT services company with a focus on consulting, engineering, and outsourcing services. The company's revenue is primarily driven by the IT services segment, which accounts for 99% of its net sales. TCS' customer base includes major industries such as banking, financial services, and insurance, as well as telecoms and media, retail, and manufacturing.

Tata Consultancy Services (TCS) has successfully completed the migration of policy data for Lloyds Banking Group's Scottish Widows, marking a significant milestone in the transformation of the company's legacy systems. The migration, facilitated by TCS's BaNCSSTM platform managed by its subsidiary Diligenta, has covered over 3.8 million policyholders, including the final tranche of 900,000 customers.

The migration involved transitioning Scottish Widows' life and pension heritage book onto the TCS BaNCSSTM platform, which is designed to manage life, pensions, and investment products. This transformation has replaced multiple legacy systems with a digitally enabled platform, promising faster and simpler service for customers.

Donald MacKechnie, Chief Operating Officer and Managing Director of Longstanding at Scottish Widows, expressed his satisfaction with the achievement, stating, "We have reached an important milestone in our transformation programme, and our ongoing relationship with Diligenta and TCS. We look forward to continuing to enhance customer experience by providing customers with better and faster service, enabled by digitisation."

R Vivekanand, President of Product and Platforms at TCS, highlighted the scale of the migration and the company's commitment to further enhancing its services for Scottish Widows. "The team has set a new benchmark following a migration of this scale. Our relationship with Scottish Widows continues to thrive, and we look forward to further enhancing what we do with them including leveraging state of the art technology developments like AI to further improve digital customer experience".

TCS' BaNCSSTM platform is a comprehensive solution that encompasses policy administration, data management, integrated imaging, and workflow administration. It is designed to manage over 20 million policies in the United Kingdom, demonstrating TCS's capability to handle large-scale migrations and digital transformations.

The completion of this migration is a testament to TCS's expertise in the financial services sector and its ability to deliver end-to-end policy administration services. As TCS continues to work with Scottish Widows, it is expected to leverage advanced technologies such as AI to further enhance the customer experience.

References:
[1] https://www.tcs.com/who-we-are/newsroom/press-release/tcs-completes-uk-largest-policy-migrations-lloyds-banking-group-scottish-widows
[2] https://www.lloydsbankinggroup.com/insights/responsible-artificial-intelligence-building-trust-and-value.html