The enlarged partnership will bring together the strengths of Standard Life Assurance Limited, Phoenix and TCS
Phoenix Group confirms an enlarged partnership with leading technology and service provider TCS, to drive Phoenix’s growth plans for its open book workplace business and meet the future needs of its workplace clients, customers and their advisers. The enlarged partnership will bring together the strengths of Standard Life Assurance Limited, Phoenix and TCS. It will build on the strong innovation and customer service excellence to which the partners are committed, and enable further digital and technology capabilities to be developed.
The partnership will create a single, open architecture workplace pensions and savings, digital operating platform for Standard Life Assurance, allowing the long term savings specialist to partner with a variety of innovators and experts as it continues to develop its wider workplace offering. It will be agile; accelerating speed to market to meet the evolving needs of workplace advisers, employers and their scheme members, and will provide much richer insight for workplace clients.
A key element of the partnership is TCS’s commitment to expand its already significant Scottish presence and establish a further TCS technology and operational service hub in Edinburgh, with a skilled team of experts from Standard Life Assurance and TCS to support the partnership and deliver excellence in customer service. A number of Standard Life Assurance employees will transfer to TCS* by the end of the transformation.
Commenting, Susan McInnes, CEO of Standard Life Assurance, said:
“We want to ensure we lead the way in meeting the needs and expectations of all our customers in the future, and become an even more innovative, progressive, well run business. We believe a partnership model is absolutely the right approach. It enables us to work with a leading global organisation with great expertise and to respond to the dynamic environment that we’re operating in.
“Working in partnership with TCS will support our growth strategy in the workplace market and bring benefits to workplace clients and scheme members. It will accelerate our ability to innovate and efficiently evolve our proposition in the future, whilst continuing to deliver excellent customer service.”
Commenting on the expanded partnership, Suresh Muthuswami, President, BFSI Platforms, TCS, said:
“We have cherished our partnership with Phoenix over the last 16 years and are truly delighted with the opportunity to serve Standard Life Assurance in a significant manner. Our focus will be to bring the power of digital technologies to further improve customer experience to Standard Life Assurance’s customers including employers, Employee Benefit Consultants and members. This exciting partnership builds on our existing substantial presence in Edinburgh to support Standard Life Assurance, and TCS’s growth plans. We will be leveraging our presence in Edinburgh to enable Standard Life Assurances’ workplace clients and their advisers to collaborate and envision the future digital transformations to help shape our future offering.”
Source: Company Press Release