TCS bags multi-million euro AI-led IT transformation deal from Canada Life

Tata Consultancy Services (TCS) has secured a multi-million euro, multi-year technology transformation and managed services contract from global life and pensions insurer Canada Life, as the Indian IT major continues to expand its artificial intelligence-led transformation business in Europe.

Under the agreement, TCS will modernise and manage Canada Life’s IT infrastructure services across its European operations, including data centres, core infrastructure, end-user computing and software lifecycle management. The company will deploy its AI and digital capabilities to improve operational resilience, increase automation and enhance user experience, according to a company statement on June 8.

The deal comes as large enterprises increasingly turn to AI-led infrastructure modernisation projects to improve efficiency and reduce operational complexity. For TCS, the contract also strengthens its position in the insurance and pensions sector across Europe.

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"Working with TCS marks the next stage of our journey to modernise the technology foundations that underpin our business, and it was important to choose a partner that understands our long-term vision and shares our commitment to people and innovation," said Caroline Dibbs, Chief Information & Transformation Officer, Europe at Canada Life.

Dibbs added that TCS brings "deep technical expertise, strong transformation capabilities and a collaborative approach that aligns well with our strategy. Together, we will deliver lasting improvements to the technology services and capabilities that support our business and the people who depend on it."

For TCS, the deal aligns with its strategy of positioning itself as an AI-led technology services company. The Mumbai-headquartered firm has increasingly highlighted AI-led transformation as a key growth area amid rising enterprise spending on automation and modernisation.

"We are delighted to be selected as the strategic partner for Canada Life's technology modernisation journey across the UK and Europe. This co-operation is a testament to our leadership in AI-led transformation, marking a significant step on our journey to becoming the world's largest AI-led technology services company," said Vinay Singhvi, Head, UK & Ireland, Tata Consultancy Services.

"By leveraging our deep domain expertise, we will help Canada Life achieve greater operational efficiency, enhance resilience, and create a more agile, responsive IT ecosystem to support their long-term growth," Singhvi added.

As part of the engagement, TCS said it will expand its infrastructure services talent pool across the UK, Ireland, the Isle of Man and Germany, while investing in training, certification and career development programmes. The company said the agreement further strengthens its presence in the UK and Ireland and reinforces its position as a transformation partner for insurance, life and pensions providers in the region.