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TCS bags $690 mn deal from Prudential arm

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Mumbai, Jan 16 (IANS) Indian IT major Tata Consultancy Services (TCS) on Tuesday said it had won a $690 million (Rs 4,416 crore) new deal from M&G Prudential, the savings and investment arm of the London-based Prudential Plc.

“The 10-year deal envisages digital transformation of M&G business for enhanced service to its British savings and retirement customers with 4 million policies,” the software major said in a statement here.

As part of the deal, the administration of four million life and pensions contracts will move from M&G to TCS, a market leader in British life and pension management with 17 million policies on its digital platform, TCS BaNCS.

“We will propel the digital transformation through investments in digital and technology services. We will also bring the combined strength of our domain expertise in BFSI and managed policy administration in the British life and pension industry,” said TCS Chief Executive Rajesh Gopinathan on the occasion.

About 1,100 roles from M&G’s sites across Britain will also be transferred under the Transfer of Undertakings (Protection of Employment) agreements to TCS’ FCA-regulated British subsidiary.

About 700 roles in India will also move to the Indian IT major.

“The partnership with TCS is a part of our strategy to create a digitally-enabled business. Our customers will receive a better service as a result and our colleagues will be better equipped to provide that service,” said M&G Chief Executive John Foley in the statement.

The fresh deal with TCS is also a part of M&G’s five-year plan to improve customer outcomes through its pound 250-million (Rs 2,125 crore) investment its shareholders will be making over the next five years.

TCS will also take over a part operation of Prudential’s IT infrastructure to deliver services to the businesses within its group.

About 180 full-time roles in London, Reading and Craigforth will also transfer under the TUPE arrangement to TCS.

“Our BaNCS platform will power digitised front, mid and back-office operations to enable M&G become more agile and improve customer experience,” added Gopinathan.

M&G has pound 337 billion assets under its management and seven million customers.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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