Deloitte Consulting LLP announced it has purchased "certain assets" of Technology Consultants Inc. (TCi), a provider of benchmarking and advisory services to the insurance industry that has operated under the TCi Consulting & Research banner.
Financial terms of the cash deal were not disclosed.
With the completion of the transaction, TCi's core people and assets have joined Deloitte Consulting's Insurance Practice, said New York-based Deloitte, a developer and implementer of business improvement strategies for insurance companies.
Founded in 1989, TCi conducts surveys that are used by insurance companies to benchmark expenses for information technology and operations. As part of the transaction, TCi's core professional staff and leadership, including managing directors Jack Tyniec and John Johnsen, have joined Deloitte Consulting, said Deloitte.
The company declined to comment on the status of other TCi employees.
A Deloitte spokesman said the company is acquiring the TCi name, some processes and a portfolio of benchmarking surveys.
The TCi team will continue to offer its benchmarking surveys, as well as the confidential customized reports for participating clients, the company noted. Over time, new products and services are expected to be introduced across a variety of functions.
TCi provides consulting and research to providers of insurance products. It has been known for its benchmarking studies, new product business and technology planning, information technology strategy planning, business process outsourcing and vendor system selection, and project implementation management.
Further information is available at the U.S. member firm's Web site: www.deloitte.com/us.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.