TCS extends partnership with Tryg in 7-year deal worth Rs 5,695 crore

TCS has signed a €550 million, seven-year extension of its partnership with Scandinavian insurer Tryg to simplify IT operations, drive digital transformation and boost efficiency

Tata Consultancy Services (TCS) on Tuesday announced that it has expanded its strategic partnership with Tryg, a leading Scandinavian non-life insurance company that operates in Denmark, Sweden, and Norway. The deal worth €550 million (around Rs 5,695 crore) has been extended by seven years.

 

This will be TCS’ first mega deal of FY26. In FY25 the company had no mega deals due to the cautious sentiment among customers. TCS management over the last few quarters had stated that though mega deals are around, closure of such deals is taking time.

 

As part of the agreement, TCS will partner with Tryg to simplify and standardise operations across its three major markets, and drive technological transformation to accelerate the company’s growth journey.

 

 

TCS will leverage its suite of artificial intelligence (AI) and Cloud solutions across Tryg’s entire IT landscape to augment delivery capability, automate core processes, and elevate customer experience.

 

Tryg’s Group Chief Executive Officer (CEO) Johan Kirstein Brammer said: “We are simplifying our IT landscape, enabling us to further invest in new technology and develop our business across Scandinavia. This means we can deliver the best customer experiences, continue to differentiate Tryg in the market, and strengthen our competitiveness. The extended partnership with TCS, which is one of the leading technology companies in the world, is a key initiative supporting our 2027 target to simplify and scale Tryg’s business.”

 

Taking ownership of application development and management, end-to-end infrastructure services, end-user services, and cybersecurity, TCS will propel Tryg’s “United Towards 27” vision aimed at simplifying its IT operations and building the capacity to develop new digital solutions for more than six million customers.

 

TCS CEO K Krithivasan said, “Success today depends on how quickly and resiliently enterprises can adapt. The key to long-term value creation lies in building perpetually adaptive enterprises enabled by intelligent, future-ready IT systems. We are proud of this long-standing partnership that has brought key innovations in the European insurance space. This extension reflects our shared commitment to building resilient ecosystems designed not just for today, but for the possibilities of tomorrow.”

 

Tryg and TCS have shared a strategic partnership spanning over 15 years. TCS has collaborated with Tryg over the years on many elements of their transformation journey, and continued to deliver on key outcomes.

 

As a part of the new agreement, TCS will also establish a unified digital-first operating model for managing businesses across the three key markets that Tryg operates in, consolidating functions that were dispersed across the region. The initiative will ensure scalability and expedite Tryg’s go-to-market timeline while boosting operational efficiency. By optimising development and operational costs, TCS will lay the foundation for a scalable and sustainable IT ecosystem.

 

Some of the large deals signed by TCS in recent past:

 

2025: Awarded Rs 2,903 crore add-on order from BSNL

 

2024: TCS extends its partnership with Aviva, deal size not disclosed

 

2023: TCS signed $1bn deal with JLR

 

2023: Signed $1.1 bn deal with UKs Nest