Tata Consultancy Services (TCS) has secured a multiyear infrastructure transformation and managed services contract from insurance and pensions provider Canada Life, marking another large AI-focused deal for the Indian IT services major in the financial services sector.
While the companies did not disclose the contract value, TCS described it as a "multimillion-euro" agreement under which it will modernise and manage Canada Life's IT infrastructure services across its European operations.
As part of the engagement, TCS will deploy its artificial intelligence and digital capabilities to modernise Canada Life's data centres, core infrastructure, end-user computing environment, and software lifecycle management processes. The initiative aims to improve operational resilience, increase automation, and enhance the user experience for customers.
The project will support Canada Life's broader technology modernisation efforts across Europe and is expected to help the insurer scale technology services more efficiently while responding faster to changing business requirements. The programme will focus on delivering performance-driven IT services and supporting the company's long-term technology strategy.
“Working with TCS marks the next stage of our journey to modernise the technology foundations that underpin our business, and it was important to choose a partner that understands our long-term vision and shares our commitment to people and innovation,” Caroline Dibbs, Chief Information and Transformation Officer, Europe for Canada Life, said in a statement.
Vinay Singhvi, Head of UK and Ireland at TCS, said the partnership would help Canada Life improve operational efficiency, strengthen resilience and build a more agile IT ecosystem.
“By leveraging our deep domain expertise, we will help Canada Life achieve greater operational efficiency, enhance resilience, and create a more agile, responsive IT ecosystem to support their long-term growth,” Singhvi noted.
The engagement will also see TCS expand its infrastructure services talent base across the UK, Ireland, the Isle of Man, and Germany through investments in training, certification, and career development programmes.
The deal adds to TCS' portfolio of insurance sector engagements in the UK and Europe and strengthens its position in the banking, financial services and insurance (BFSI) segment, a key vertical for the company.
TCS said the partnership reinforces its expansion strategy in the UK and Ireland, which it views as a strategic hub for delivering end to end services to insurance clients across the region.
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