TCS sees Diligenta turnaround, eyes US insurance market

Diligenta reported a profit of Rs 8 crore on revenue of Rs 1,485 crore in 2016-17

Tata Consultancy Services (TCS) says it has seen a "turnaround" in fortunes of Diligenta, the UK business process subsidiary with large wins in recent months and has begun offering its services to insurance companies in the US, which is a larger market.

Diligenta was set up in 2005 to offer business process services for the life and pensions insurance industry in the UK. It administers closed-book pensions and annuities for insurers, a model where it gets initial revenue and slows down as policies get closed. Since its $2.2 billion deal in 2011 from UK insurer Friends Life, it struggled to get