Tata Consultancy Services (TCS) has bagged a contract from South Africa's Nedgroup Insurance Company (NIC) for deploying its financial services platform. No financial details of the contract were divulged. TCS BaNCS Insurance, part of the company's financial services platform, will serve as the new policy administration system for Nedgroup short-term insurance services. NIC is a short-term insurer specialising in homeowner's cover, personal accident and vehicle-related, value-added insurance products. NIC is the first insurance customer for TCS in Africa, though the company is already serving banks in the region. TCS BaNCS was selected for its superior IT strategy and vision, both in South Africa and internationally.
