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TCS Made $700 Million Deal To Digitize UK Insurer’s Products

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Tata Consultancy Services (TCS) has signed a contract with Phoenix Group Holdings worth over £600 million.

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The deal will allow TCS to digitally transform Phoenix's product offerings.

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TCS will integrate ReAssure's heritage business into its financial services platform.

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TCS will also manage customer administration and servicing for ReAssure's 3 million policies.

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The deal is TCS's largest in the UK in three years.

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The partnership expansion will help Phoenix become more competitive.

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TCS already provides services for Phoenix Group.

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Indian software services firms are facing a slowdown in tech spending.

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The economic outlook for 2023 is uncertain due to the Russia-Ukraine war and rising inflation.

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TCS CEO Rajesh Gopinathan says the business environment in the UK and North America is supportive.

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