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Unisys to sell UK-based insurance and pension processing business to TCS subsidiary

01 September 2010 , Written by Dhruv Tanwar
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Unisys Corporation has announced the sale of Unisys Insurance Services Limited (UISL), its insurance and pension processing business in the UK, to Diligenta Limited, a subsidiary of Tata Consultancy Services Limited.

insurance1UISL, which has its headquarters in the UK and operations in Liverpool and Bournemouth, provides business process outsourcing services to the UK life and pensions industry. Unisys did not disclose the terms of the transaction.

Diligenta is a business process outsourcing (BPO) provider in the UK, and is a subsidiary of Tata Consultancy Services (TCS), the Indian IT services, business solutions and outsourcing firm. In a statement, TCS said Diligenta’s new contract with The Phoenix Group has been extended by an additional six years until 2018, and both contracts will generate £250 million in revenue for the company over that period.

Diligenta, which was selected as the preferred bidder following a rigorous selection process by UISL's largest client -The Phoenix Group - will start delivering services currently provided to UISL’s clients from today. Diligenta will manage further books of business owned by The Phoenix Group and is acquiring a third client, Old Mutual International. The number of policies Diligenta now administers will rise from 3.6 million to over 5 million.
 

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