Tech Mahindra has been positioned as a Major Contender and Star Performer in the Everest Group's Life and Annuity (L&A) Insurance IT Services PEAK Matrix® Assessment 2024. The report highlights Tech Mahindra’s role in this transformation by delivering comprehensive IT services that support L&A insurers in their digital transformation efforts. The organization helps insurers modernize their technology infrastructure, automate processes, and improve customer engagement with innovative solutions.
Report Summary
Key highlights
Digital Transformation
Tech Mahindra has played a significant role in helping L&A insurers accelerate their digital transformation journeys. This includes adopting hybrid/cloud infrastructure, automating processes, and minimizing data silos.
Business-Oriented IT Engagements
The company has been instrumental in shifting insurers towards business-oriented IT engagements, facilitating rapid success along their long-term modernization journeys.
Technological Modernization
Tech Mahindra has supported insurers in the early stages of technology modernization by enhancing cloud integration strategies and reinforcing data analytics capabilities.
Insurance Specific Lab
Tech Mahindra has established insurance labs across different regions for Machine Learning and generative AI use cases specific to L&A insurers.
Tech Mahindra's advancements to serve L&A carriers across their application and infrastructure needs have strengthened its position, especially in European and Australian markets.
The firm's joint go-to-market efforts and strategic partnerships with leading platform providers across core and core augmentation value-chain for carriers, investments in AI-focused use-cases in L&A insurance, and strategic acquisitions have strengthened Tech Mahindra's position as a Major Contender and Star Performer on Everest Group's Life and Annuity Insurance IT Services PEAK Matrix® assessment 2024.
Our Strengths
Our promise of "Scale at Speed™"
At the core of Tech Mahindra's unique identity is the right mix of its size and agility. With over 145,000 employees spread across more than 90 countries, combined with an entrepreneurial approach and focus on innovation, Tech Mahindra is driven to accelerate enterprise growth and transformation with agility, resilience, and efficiency.
Sustainability Leader
Tech Mahindra is committed to pursuing ‘Purpose Beyond Profits’ by embedding environmental, social, and governance (ESG) principles into their core strategy while balancing sustainability and overall profitability. This commitment has garnered us highly regarded industry recognitions, such as:
- Awarded #1 amongst all Indian companies in the World's Most Sustainable Companies by Time and Statista
- First Indian Company to have been awarded the Sustainable Market Initiative's Terra Carta Seal
Innovation at Makers Lab
Makers Lab is Tech Mahindra's innovation center that promotes technology innovation and provides a unified platform for conceiving disruptive solutions that solve real-world problems. This is where we work on the most groundbreaking technologies including Quantum computing, Blockchain, Metaverse, IoT and Robotics, and Foundational AI, among others.