Tata Consultancy Services (TCS) has signed a €550 million (approximately $590 million) deal with Tryg, one of the leading non-life insurance providers in Scandinavia. The long-term agreement spans seven years and aims to streamline and modernize Tryg’s operations across Denmark, Sweden, and Norway.
Under this strategic partnership, TCS will focus on simplifying, standardizing, and digitally transforming Tryg’s core business functions. The initiative is set to enhance operational efficiency, improve customer experience, and future-proof the insurer’s technology landscape in a highly competitive market.
TCS will leverage its deep industry expertise and proven delivery capabilities in the insurance sector to transform Tryg’s IT operating model. The engagement includes migrating core operations to cloud-based platforms, modernizing legacy systems, and introducing automation and data-driven decision-making tools.
This deal strengthens TCS’s position in the Nordic region, a strategically important market for the Indian IT giant. TCS has been expanding its footprint in Europe, and this agreement follows a string of similar high-value digital transformation deals with major global clients.
“We are excited to deepen our relationship with Tryg and help them achieve their vision of becoming the most customer-oriented insurer in the Nordic region,” said K. Krithivasan, CEO and Managing Director of TCS. “Our domain knowledge, digital capabilities, and strong regional presence position us well to support this transformation journey.”
For Tryg, this partnership aligns with its goal to drive innovation, enhance agility, and deliver superior digital experiences to its customers. By outsourcing critical IT functions to a global technology leader like TCS, the insurer aims to remain competitive and responsive in an evolving regulatory and economic environment.
This deal is one of the largest IT services contracts in the Nordic insurance sector, underlining TCS’s growing reputation as a trusted transformation partner for leading insurers worldwide.
