Posts Tagged ‘bpo contract’

TCS arm wins Rs 784 crore BPO contract from Sun Life Financial

Wednesday, January 30th, 2008

Diligenta, a subsidiary of Tata Consultancy Services (TCS), has won a contract to deliver Business Process Outsourcing (BPO) services to support Sun Life Financial of Canada’s UK operations. The services, expected to commence in May are estimated to be worth Rs 784 crore ($200 million) over the life of the contract. Diligenta has been a preferred supplier since October and it will continue to run the operation in Basinystoke where Sun Life Financial Head Office is based.

Diligenta specialises in providing BPO services to Britain’s life assurance industry. Dillgenta is a UK-based, FSA regulated subsidiary of TCS. Since 2006, Diligenta has provided BPO services for the Pearl Group under a 12-year, pound 486 million contract to consolidate 11 financial and administrative systems onto a single platform.

Phiroz Vandrevala, Chairman of Diligenta said that Diligenta and TCS will ensure Sun Life Financial of Canada will continue to receive market leading standards of customer service.And this contract wins Diligenta’s reputation as a leading player in the UK Life and Pensions outsourcing market. A S Lakshminarayanan, TCS UK and Ireland vice-president and Country Head said that their vision was to establish a centre of excellence on the growing BPO trend and to cultivate new opportunities in this UK life and Pensions market sector.And he added that the services is expected to commence in May 2008 and the contract is estimated to be worth about 200 million dollars.

Janet Fuller, CEO of Sun Life Financial of Canada’s UK operations, said that the contract with Diligenta is on the basis of detailed and thorough review of the BPO market in the UK and Diligenta had satisfied with its cost guarantees, risk transfer capability and its commitment to match or exceed our service requirements. And it expects Diligenta will work closely with us and with our current provider during the second quarter of 2008.