HCL announces new five-year Transformation Deal with Aegon

On December 10, HCL Technologies (HCL) announced a new five-year contract with multinational life insurance, pensions, and asset management company Aegon.

As per a Press Release issued by HCL, the application services deal will see HCL continue as Aegon’s digital transformation partner, helping to accelerate innovation by establishing and managing a new multi-vendor ecosystem. HCL will also help implement an agile delivery model to reduce Aegon’s time to market and introduce greater efficiencies through improved application lifecycle management and automation.

The Release stated that “HCL has been a strategic IT services partner to Aegon Netherlands since 2004. During that time, it has delivered application services, partnered in transforming Aegon’s data and analytics capabilities, and helped the insurer to achieve digital leadership through a joint cXstudio, which fosters co-innovation. Aegon wants to build digital at scale to improve customer self service and extend its leadership position.”

In this regard, Aegon’s CTO Anke Schlichting said, “Our business strategy is centred on digital-first, which is paramount to our ability to drive service innovation, attract new customers, and drive efficiencies”.

Schlichting further added, “As a result, it’s crucial that we continue to accelerate time to market and have a vendor ecosystem that gives us access to the best capabilities the industry has to offer. We’ve established a strong relationship with HCL over the last 14 years and its intimate knowledge of our business is an important pillar underlying our partnership. HCL’s, in-depth understanding of the vendor ecosystem and significant experience being part of multi-vendor environments for other major global organizations were the key deciding factors.”

Subsequently, Sudip Lahiri, SVP and Head of Financial Services, Europe, at HCL said, “We’re looking forward to continuing our support for Aegon on its successful digital leadership journey”.

Lahiri concluded, “Aegon was one of HCL’s first major customers in continental Europe and we are especially proud of what we’ve accomplished to date. Our relationship with Aegon really demonstrates the scale of the success that can be achieved through a true partnership approach, where both parties have invested heavily in a culture of co-innovation and collaboration.”