TCS wins $690 mn deal with UK's M&G Prudential; second deal this year

Firm is market leader in processing insurance policies in UK, has entered US with Transamerica deal

Tata Consultancy Services (TCS) signed a ten-year $690 million contract with M&G Prudential, the UK and European savings and investments business unit of Prudential Plc, to support over four million customer policies.

This will be the second insurance company win for TCS this year after it signed its biggest deal ever of over $2 billion with US insurance firm Transamerica last week. In both the deals, TCS will transition the entire work on its Bancs platform and support these policies. The TCS Bancs platform already processes over 17 million policies and has emerged as the leader in the UK life