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TCS provides IT support for transfer of L&G policies to ReAssure

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Tata Consultancy Services has helped Legal & General (L&G), one of the UK's leading financial services companies and a major global investor, successfully complete the transfer of its insurance-based savings, pensions, life and with-profits policies to ReAssure (now part of the Phoenix Group).

In December 2017, L&G announced the sale of its Mature Savings division to ReAssure in a 650 million deal. As L&G's strategic partner, TCS provided end-to-end IT solutions support for the complex transfer program, involving 1.1 million policies representing assets worth over 30 billion.

TCS leveraged its deep contextual and domain knowledge to deliver GDPR compliant solutions covering over 130 applications.

TCS built and implemented a solution to securely extract, transfer and subsequently delete large volumes of in-scope data from a complex and integrated IT estate without impacting the existing business. Additional solutions were designed to allow inflight business transactions to seamlessly transfer from L&G to ReAssure in case of a successful transfer or remain operational within L&G in case of a failed transfer event, with minimal manual intervention.

With careful and detailed planning, TCS could successfully extract and securely transfer over 8.9 billion rows of data, within the very short transfer window of 16 hours, achieving peak extraction and packaging rates of over 500 million records per hour. Post-transfer issue incidence is reportedly the lowest experienced to date, for a migration of this size.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, October 15 2020. 13:52 IST