Everest Group Designates TCS as Leader and Market Star Performer in Insurance
Rating TCS as Highest Performer Among All Vendors Analyzed, Report Cites
Growth in Insurance AO Revenue, Breadth of Clients and Solutions as Key
MUMBAI, India, Dec. 6, 2012
MUMBAI, India, Dec. 6, 2012 /PRNewswire/ -- Tata Consultancy Services (TCS),
(BSE: 532540, NSE: TCS) a leading consulting, business solutions and IT
services organization, announced today that it has been rated as a Leader in
Insurance IT Application Outsourcing (AO) by the Everest Group, an advisory
and research firm on global services. Everest Group's PEAK Matrix, published
in the October 2012 also recognized TCS as a "2012 Insurance AO Market Star
Performer" - a distinction that is awarded to providers with the strongest
year-on-year forward movement in market success and capability advancements.
Among the attributes that garnered TCS the honor are the company's sharp focus
and investments into the Insurance vertical, the large and growing numbers of
active global Insurance clients, and TCS' customized and innovative products
and solutions for the insurance industry that support all the insurance line
of businesses (LoBs) across all AO functions. TCS improved on its already
strong showing in the prior year report, receiving the highest rating among
all service providers in the analysis of both delivery capability and market
success (based on transaction activity).
"We are delighted to receive the Leader and Market Star Performer Rating from
Everest Group, this reaffirms our position as the leader in providing domain
led large transformational services to the global insurance industry," said
Suresh Muthuswami, President, Insurance and Healthcare for TCS. "Our
commitment and investments on building relevant and current offerings for a
rapidly evolving industry along with our domain led full services offerings
enables us to be the partner of choice for our insurance clients".
"As Insurers across the globe look at leveraging technology and outsourcing to
support their key business priorities and adopt a more result-oriented
approach, TCS continued to build on its strengths through investments in
domain capabilities. ," said Jimit Arora, Vice President, Everest Group.
"Despite its large operating scale, TCS registered growth of approximately 30%
in Insurance AO revenue and ACV and improved on its strong prior year position
on this report to be designated Leader and Market Star Performer this year."
In this report, Everest Group analyzed the capabilities of 20 leading AO
service providers specific to the global insurance sector. These providers
were mapped on Everest Group'sPerformance | Experience | Ability | Knowledge
(PEAK) Matrix into are divided into three categories: Leaders, Major
Contenders and Emerging Players, PEAK is a composite index of a range of
distinct metrics related to a provider's capability and market success.Access
this report here.
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions
organization that delivers real results to global business, ensuring a level
of certainty no other firm can match. TCS offers a consulting-led, integrated
portfolio of IT, BPO, infrastructure, engineering and assurance services. This
is delivered through its unique Global Network Delivery Model™, recognized as
the benchmark of excellence in software development. A part of the Tata group,
India's largest industrial conglomerate, TCS has over 254,000 of the world's
best-trained consultants in 44 countries. The company generated consolidated
revenues of US $10.17 billion for year ended March 31, 2012 and is listed on
the National Stock Exchange and Bombay Stock Exchange in India. For more
information, visit us at www.tcs.com.
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SOURCE Tata Consultancy Services
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