TCS Deepens AI Push With New Canada Life Technology Partnership

Tata Consultancy Services (TCS) has secured a multi-year technology transformation and managed services contract from Canada Life, marking another significant win for the IT services major in the banking, financial services and insurance (BFSI) sector.

While financial details were not disclosed, TCS said the agreement will support the modernisation of Canada Life's IT infrastructure services across its European businesses. The insurer is one of the world's leading life and pensions providers.

The deal comes at a time when insurers globally are increasing investments in technology modernisation, automation and artificial intelligence to improve efficiency and customer experience.

AI-Led Modernisation Across Europe

As part of the agreement, TCS will modernise and manage Canada Life's data centres, core infrastructure, end-user computing systems and software lifecycle management operations.

The company said it will use its AI and digital capabilities to improve operational resilience, increase automation and enhance user experience across the insurer's European operations.

Caroline Dibbs, Chief Information & Transformation Officer, Europe, Canada Life, said the partnership represents the next phase of the company's technology transformation journey.

"Working with TCS marks the next stage of our journey to modernise the technology foundations that underpin our business," Dibbs said, adding that the company chose a partner that shares its long-term focus on people, innovation and technology-led growth.

Boost for TCS' BFSI Business

For TCS, the contract reinforces its position as a key technology partner for insurance and financial services companies across Europe.

Vinay Singhvi, Head of UK & Ireland at TCS, said the engagement highlights the company's growing focus on AI-driven transformation. "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," he said.

As part of the agreement, TCS 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 latest contract also strengthens TCS' expansion strategy in the UK and Ireland, which the company views as an important hub for delivering end-to-end transformation services to insurance clients across Europe.