Tata Consultancy Services, (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced today that it has been recognized by Everest Group as a Leader and Star Performer in insurance application outsourcing (AO) in its report "IT Outsourcing in Insurance � Service Provider Landscape with PEAK Matrix� Assessment 2014." This is the third year in a row that TCS has been awarded with both the Leader and Star Performer designations.
Everest Group named TCS as a Leader and Star Performer according to Everest Group's PEAK Matrix� framework for its ongoing commitment to delivery capabilities, including scale, scope, domain investments, delivery footprint and buyer satisfaction. TCS was also commended for continued investments in next generation technology and high client satisfaction.
For this report, Everest Group analyzed the capabilities of 22 leading AO service providers, specific to the global insurance sector. These providers were mapped on Everest Group's Performance, Experience, Ability, Knowledge (PEAK) Matrix, a composite range of distinct metrics that measures each provider's capability and market success.
"The overall AO market is expanding, as providers continue to build capabilities and expand their client bases," said Jimit Arora, Vice President, Everest Group. "TCS' expansive geographic scope, covering all regions, its large delivery footprint, and significant investments in proprietary solutions, alliances and acquisitions has allowed the company to build and expand its capabilities to address shifting market needs. This is the key distinguishing factor and what strengthened its Leaders position this year."
"We are honored to be recognized by Everest Group as a Leader and Star Performer for the third consecutive year," said Suresh Muthuswami, President, Insurance and Healthcare, TCS. "This continued recognition is only possible with the support of our outstanding customers which include many of the leading global insurers, and our passionate and dedicated employees that have an unwavering focus and an unmatched track record of delivering top notch services to our clients. This recognition is a true testament to our distinctive ability to consistently enable Insurers to digitally re-imagine their business and transform into agile customer-centric organizations."
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, BPS,infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model�, recognised as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 318,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $13.4 billion for year ended March 31, 2014 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.