Belgian insurance company AG collaborates with TCS for its digital transformation drive

The insurance company from Belgium, AG has selected Tata Consultancy Services (TCS) as a strategic partner for helping its digital channels and modernise IT systems by leveraging TCS’ Machine First approach.

Reacting to this, the stock of Tata Consultancy Services jumped more than 0.95 per cent today and made an intraday high of Rs 2,656.35 on BSE.

The company has partnered with TCS to modernise its technology as well as to meet the changing needs of its diverse range of customers.

TCS will also leverage its technologies like the internet of things (IoT), big data, blockchain, machine learning, and AI to help AG in redeveloping its products & services.

AG, an insurance company from Belgium, has 190 years of experience and over 2.7 million customers, providing insurance in life, auto, fire & civil liability while TCS is an IT services, consulting & business solutions organisation with 50 years of experience.

According to BSE data, the stock traded at a P/E multiple of 33.52 and a price-to-book ratio of 11.72.

At 2.28 pm today, the share of Tata Consultancy Services was trading at Rs 2,618, down by 0.51 per cent on BSE.