Tata Consultancy Services has concluded a multi-year, multi-million dollar transformation project at Phoenix Group.

The project, carried out by TCS’ UK subsidiary Diligenta, involved replacing and decommissioning 11 major life and pension administration systems at the specialist consolidator of closed life funds, hundreds of peripheral systems and migrating more than four million policies and customer records, across multiple brands and product lines into TCS BaNCS Insurance.

"This is a significant deal that secures TCS BaNCS' position as one of the major platforms in the UK life and pensions industry,” says Jamie Macgregor, senior analyst at Celent. "A platform transformation on this scale should deliver Phoenix's customers with a much improved customer experience, a more rapid response to change, and a reduced cost to serve."

Tony Kassimiotis, managing director at Phoenix Group, comments: “This move forms part of our strategy to be recognised as the industry solution for the safe, innovative and profitable decommissioning of closed life funds - by maximising economies of scale and generating capital efficiencies through operational improvements. This transformation project will streamline services to improve the experience for our customers and we are delighted with the way TCS and Diligenta have ensured its smooth delivery.”

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