TCS secures €550 million, 7-year deal with Tryg for digital transformation

Country’s largest IT services company, Tata Consultancy Services (TCS), on Tuesday (September 2), said it has expanded its long-standing partnership with Tryg, a leading Scandinavian non-life insurance company, through a €550 million agreement spread over seven years.The collaboration builds on a 15-year relationship between the two companies. Under the new arrangement, TCS will partner with Tryg to simplify and standardise operations across its core markets in Denmark, Sweden, and Norway.

As part of the deal, TCS will deploy its suite of artificial intelligence (AI) and cloud-based solutions to streamline Tryg’s IT landscape. The engagement aims to augment delivery capability, automate core processes, and improve customer experience while supporting the insurer’s strategic transformation and growth objectives.

Also Read: TCS rolls out 4.5-7% salary hikes for majority of employeesTaking ownership of application development and management, end-to-end infrastructure services, end-user services, and cybersecurity, TCS will propel Tryg’s ‘United Towards 27’ vision aimed at simplifying its IT operations and building the capacity to develop new digital solutions for more than six million customers.

The expanded partnership will create an opportunity for TCS to streamline a historically complex IT landscape shaped by organic growth and acquisitions, unify fragmented operating models across geographies, and embed automation and AI to enhance efficiency in every element of the IT operations value chain.
As a part of the new agreement, TCS will also establish a unified digital-first operating model for managing business across the three key markets that Tryg operates in, consolidating functions that were dispersed across the region.Also Read: TCS to cut 2% of global workforce in mid and senior level roles over next 12 months

The initiative will ensure scalability and expedite Tryg’s go-to-market timeline, while boosting operational efficiency. By optimising development and operational costs, TCS will lay the foundation for a scalable and sustainable IT ecosystem.

Johan Kirstein Brammer, Group CEO, Tryg, said, “We are simplifying our IT landscape, enabling us to further invest in new technology and develop our business across Scandinavia. This means we can deliver the best

customer experiences, continue to differentiate Tryg in the market, and strengthen our competitiveness.

The extended partnership with TCS, which is one of the leading technology companies in the world, is a key initiative supporting our 2027 target to simplify and scale Tryg’s business. TCS is the right partner to assure an important contribution towards achieving our ambition.”

Also Read: TCS appoints Amit Kapoor as Chief AI & Services Transformation Officer to lead new global unit

Shares of Tata Consultancy Services Ltd ended at ₹3,112.00, down by ₹0.60, or 0.019%, on the BSE.