Tata Consultancy Services (TCS) has successfully deployed its core banking software suite at Nedgroup Insurance Company (Nedic), a leading insurer specializing in homeowner’s cover (HOC), personal-accident and vehicle insurance products. Nedic, the software major’s customer has gone operational with TCS BaNCS for Insurance as its new policy administration system for short-term insurance services.
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.
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. 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.