Tata Consultancy Services (TCS) has signed a 5-year contract with Dutch insurance company REAAL for development and modernization of mainframe applications and servicing the company's life insurance portfolio.

The Indian technology firm will concentrate building a scalable and best-in- class technology platform for REAAL NV to enhance agility across the business.

TCS director (Benelux) Amit Kapur said: "Across the insurance sector, there is a growing need to provide flexible parameters in line with business portfolio.

"This is a significant milestone for TCS in the Dutch life insurance market."

REAAL N V change and system development director Marcel van de Lustgraaf added: "We are looking forward to working with TCS, which will complement our in-house business competencies to deliver a stronger, more agile IT for the business, while lowering costs.

Since 1992, TCS has been operating in the Netherlands and Benelux region and has invested in the market locally to deliver consistent results to its customers.

Its Benelux operations employs more than 5,000 professionals working across the Netherlands, Belgium and Luxembourg.