Indian IT major Tata Consultancy Services (TCS) has opened its North America Insurance hub for business operations in Cedar Rapids, Iowa.
The company, which invested nearly $3bn in the US over the past three years, said more than 800 new employees will work in the region.
The insurance hub forms part of a multi-year relationship between TCS and Transamerica.
The Indian IT company will leverage the new hub to transform the administration of Transamerica’s US insurance and annuity business lines, speed up the enhancement of its digital capabilities and modernise its platforms to service all lines of its business customers.
TCS will now administer more than 10 million policies of Transamerica, including life insurance, annuity, supplemental health insurance, and workplace voluntary benefits products.
Transamerica president and CEO Mark Mullin said: “Transamerica is pleased to join forces with TCS as administrator for our annuity and certain insurance business lines, due to their expertise and continual enhancements to technology. Transamerica will continue to focus on our digital engagement platforms and new solutions that help people save, protect, invest, and retire.”
TCS president and global head of banking, financial services and insurance platforms Suresh Muthuswamy said: “We have a rich legacy of helping American businesses grow and transform since 1971, and our relationship with Transamerica will improve their customer experience in a digitally enabled way.
“As a top employer, we have been attracting the best local talent across the US and are proud to welcome more than 800 Iowans to our workforce. We look forward to partnering with the state, city and local organizations to improve economic, workforce and social outcomes for the community.”