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Nedgroup Insurance goes live with TCS BaNCS for insurance

Mumbai/Kolkata, Nov : IT services, consulting and business solutions organization Tata Consultancy Services (TCS) has announced that its customer, Nedgroup Insurance Company (Nedic), a leading insurer specializing in homeowner’s cover (HOC), personal-accident and vehicle insurance products, has gone operational with TCS BaNCS for Insurance as its new policy administration system for short-term insurance services.

Widely recognized as an industry-leading product, TCS BaNCS for Insurance is built on a modern, web-based platform with parameter-driven and component-based architecture.

The solution easily integrates with the existing systems of insurers and those of their business partners by leveraging service-oriented-architecture-enabled, n-tier architecture, the company said in a statement.

TCS BaNCS for Insurance served as the core platform as Nedic implemented its strategy to enhance customer intimacy and integrate all its offerings under one roof.

With this new core engine Nedic can expand its product range and services to its target market across a variety of channels. It heightened customer service levels at the company by providing a single view of clients and provided improved access to information.

Further, the TCS BaNCS for Insurance solution’s configurability will be an added advantage because it ensures a quicker time to market for new Nedic products.

Anees Vazeer – Managing Director, Nedic, said, “TCS BaNCS has helped us replace our previous, complicated systems with an integrated, readily accessible system, streamlining our interactions with clients. A significant aspect of this successful deployment is the collaboration between the teams, not just in Nedbank, but also with our IT solutions partner, TCS Financial Solutions, without whom we could not have implemented the new system on time.”

Commenting on the implementation, N Ganapathy Subramaniam – President, TCS Financial Solutions, said: “Over the past few years, our relationship with Nedbank has evolved into an enriching partnership. TCS BaNCS successfully completed the deployment at Nedic, proving that the solution is ideal for South Africa and that TCS Financial Solutions is committed to the region for the long term. TCS BaNCS brand values synergize with those of Nedbank since both firms are focusing on the simplification of technology to aid business transformation.” /IBNS

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