TCS bags €550 million deal with Scandinavian firm Tryg for digital transformation; details here

TCS will leverage its suite of artificial intelligence (AI) and cloud solutions across Tryg’s entire IT landscape to augment delivery capability, automate core processes, and elevate customer experience, the company said.

Taking ownership of application development and management, end-to-end infrastructure services, end-user services, and cybersecurity, TCS will help Tryg to simplify its IT operations. It will also build capacity to develop new digital solutions for more than six million customers for Tryg.

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.

"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," said Johan Kirstein Brammer, Group CEO at Tryg.

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, the IT services firm further said.

TCS and Tryg have shared a strategic partnership spanning over 15 years. TCS has had a strong presence in Denmark and the Nordics for the past 30 years. Currently, over 20,000 TCS employees support leading enterprises in the Nordics, driving growth and transformation for some of the region’s top multinationals.

"By combining TCS’ best-in-class cloud and AI capabilities with our expertise in the insurance sector, we will help Tryg accelerate its transformation into an agile, technology-led enterprise with AI at its core. We are proud of this long-standing partnership that has brought key innovations in the European insurance space," said K Krithivasan, CEO, Tata Consultancy Services.

On Tuesday, shares of TCS closed at ₹3,112 apiece on the National Stock Exchange, slipping 0.02%.