Tata Consultancy Services (TCS) today said it has opened North America Insurance hub for business operations in Cedar Rapids, Iowa.
The move, part of a multi-year deal between TCS and Transamerica announced in January this year, will transform the administration of Transferal's US insurance and annuity business lines, TCS said in a statement.
It will also accelerate the enhancement of Transamerica's digital capabilities and modernise its platforms to service all lines of its business customers, the statement added.
"Iowa is proud to welcome the TCS North America Insurance hub to Cedar Rapids. This move is a positive one, not only for the local business environment, but also for our state's leadership on the national stage in the insurance industry," Iowa Governor Kim Reynolds said.
As part of the over USD 2 billion deal, TCS will now administer Transamerica's life insurance, annuity, supplemental health insurance, and workplace voluntary benefits products, and manage the administration of more than 10 million policies.
The Mumbai-based company also plans to expand its 'goIT' and 'Ignite My Future in School' programmes into Cedar Rapids in 2018 and beyond to engage with students and teachers to pursue computer science education and digital skills.
TCS has invested nearly USD 3 billion in the US over the past three years and is among the top two job creators in IT services in America, the statement said.
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