Phoenix Global Solutions

Phoenix Global Solutions (PGS) has recently been acquired by Tata Consultancy Services (TCS), which is keen on strengthening its offerings to insurance companies worldwide. This will enable TCS to add global insurance clients like Met Life and Swiss Life to its portfolio.

PGS offers BPO services to its international clients in critical areas like Insurance, Banking, Healthcare, Financial Services, and Technology. The parent company has a history of over 150 years, manages $90 billion worldwide, and also possesses a ‘T2SP’ (Total Transaction Service Provider) model, which ensures effective execution of its client’s requirements.

PGS was established in 1996 and its revenues are said to be around $12 million. PGS is certified as a SEI CMM Level 5 and ISO 9001 company, and its established reputation in the global insurance domain should help TCS to offer consistently superior services in this area.

PGS has around 400 employees whose core competency predominantly concerns insurance-related activities. The full range of activities, however, includes:

• Business and solution modeling: This helps remove redundant processes and boost efficiency.
• Strategic Consulting & Professional Services: Both short-term goals and long-term visions are handled with an easily adaptable methodology.
• Insurance Product Support: Expertise in areas like actuaries, under writing, policy administration, etc, help PGS to deliver top quality to its clients.
• Application Development & Maintenance Support: The application development activities lower time-to-market and cover analysis, design, development and implementation.
• Legacy Application Support: Transitioning of applications from legacy to state-of-the-art is done with a phased approach to ensure that the application performance is enhanced.
• Migration/Conversion Services: A proprietary approach, consisting of six different steps, enables the company to migrate all the client’s applications to newer platforms.

The process of integrating PGS into TCS has already begun, and once this step is completed, TCS, which already has a center for excellence for the insurance sector in Chennai, will also possess a full-fledged facility in Bangalore. This should help TCS to play a dominant role in insurance off shoring from the US and other countries to India.

PGS, which possesses a 6.6-acre campus in Bangalore, already has the required infrastructure to provide international insurance-related services. This is a big benefit to TCS in terms of capital expenditure.

TCS has a presence in 32 countries, and development centers in ten nations, and this depth of penetration should enable it to strategically leverage on enhanced insurance capabilities through the PGS acquisition.