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News Topical, Digital Desk : The country's largest IT services company Tata Consultancy Services (TCS) on Tuesday said that it has further strengthened its 15-year-old partnership with Scandinavia's leading non-life insurance company Tryg. A new agreement of 550 million euros (about Rs 5,100 crore) has been signed between the two companies for seven years. Under this partnership, TCS will work with Tryg to simplify and standardize operations in its main markets in Denmark, Sweden and Norway.
TCS will use its AI and cloud-based technology to improve Tryg's IT systems. Through this, the company will focus on increasing delivery capacity, automating many tasks and improving the experience of its customers.
After this agreement
, TCS's role TCS will take responsibility for Tryg's application development and management, basic infrastructure services, end-user services and cybersecurity. It will support Tryg's 'United Towards 27' vision. The target of this vision is to simplify IT operations and increase the ability to develop new digital solutions for more than 6 million customers.
This partnership will give TCS an opportunity to improve Tryg's complex IT infrastructure, which was previously scattered due to organic growth and acquisitions. TCS will create an integrated digital-first operating model in all three key markets. This will bring uniformity in operations and increase efficiency through automation and AI. What will be the benefit? This agreement will increase Tryg's operational efficiency. Apart from this, it will reduce the time to reach the market and create a scalable and sustainable IT ecosystem. This will help in improving growth and operational costs. What did the CEO of Tryg say? On this agreement, Tryg Group CEO Johan Kirstin Brammer said, "We are simplifying our IT infrastructure so that we can invest in new technology and develop our business in Scandinavia. This will enable us to provide better customer experience, differentiate Tryg in the market and increase competition. This partnership with TCS will contribute significantly in achieving our goals by 2027. " TCS: Stock Performance After a day's trading on Tuesday, TCS shares closed with a slight decline at Rs 3,112 per share. In the recent past, this stock has not seen much performance. During 6 months, this stock has slipped by about 11%. So far this year it has slipped by 24%. With a market capitalization of Rs 11.26 lakh crore, it is the second largest listed company in the country. The 52-week high of this stock is Rs 4,588 and lowest is Rs 2,991.60 per share.
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