Client Challenges
- Extended cycle times (especially for new products)
- Pressures to leverage existing assets and investments due to reduced TCOs
- Dynamic partner landscapes with demanding customers and stakeholders who demand better corporate performance
- Disparate and cumbersome legacy systems that hinder efficient system integration with multiple trade partners to provide seamless customer / partner self-service experience
- Increased need to streamline underwriting and claims management for improved costs and operational efficiencies
- Constant need for innovation to retain market position
- Enhanced self-service capability at all sales and service touch points
- Lack of streamlined development, deployment and maintenance processes
- Need for a more responsive / agile IT to meet business needs and requirements
What TCS Provides
TCS’ insurance offerings are simple and efficient, and yet capable of sophisticated functionality. Our full-services play offerings are backed by our expertise across all industry segments and the entire insurance value chain. Leveraging three decades of experience with over 90 regional and global insurers, we partner with you to bring about effective change and tackle business challenges.
At TCS, we have the experience, expertise and capabilities to help you innovate and transform your insurance enterprise. Our full-services offering comprises a comprehensive portfolio of the following:
IT Services | Business Process Services | Consulting | Infrastructure Services
Our services include end-to-end solutions for the following
lines of businesses:
- Life and annuities
- Reinsurance
- Property & casualty (P&C)
- Health insurance
- Brokerage
- Specialty lines
Business Value
At TCS, we work with you as partners to achieve improved operational efficiencies, reduced costs and customer / partner satisfaction, such as the following:
- Smart phone applications that enable customer interactivity across a diverse range of financial services
- A 15% increase in field productivity in the emerging wealth management space with the skillful leveraging of Salesforce.com combined with TCS’ domain expertise
- An increase in target customer acquisition rates
- A 50% reduction in operational costs with improved customer satisfaction / retention for BPO and retirement services
- A 10% increase in fraud detection
- Increased predictive capabilities to boost client likeliness to buy additional products
- A 50% reduction in product development times
- Optimization and alignment of business processes with organizational strategies
Customer Speak
“I thank you for your full support over the past year and a half as we worked to lay the foundation for future projects, as well as deliver benefit to our employees and customers, while also delivering cost savings to the division and company.”
- Allianz Life Insurance Company of North America, Jim Quinn, Vice President of Enterprise Operations
“What I’m most excited about in working with TCS is that they are side by side with us figuring out how we can get even better – how can we improve our service for our customers and reduce our cycle times. So we’re very excited about this partnership and where we can take things.”
- Allianz Life Insurance Company of North America, Cathy Mahone, Senior Vice President of Enterprise Operations
Read case study: Allianz Life Insurance improves service levels while achieving cost savings by outsourcing its operations to TCS
Products and Solutions
TCS BaNCS Insurance is a state-of-the-art, web-based insurance product suite that provides efficient service delivery across all lines of business (property and casualty, individual and group life, and reinsurance). The breadth of the solution caters to the following end-to end insurance operations:
- Product configuration
- New business
- Underwriting
- Policy administration
- Claims administration
- Intermediary and commission management
- Reinsurance
- Accounting
TARABS is an insurance billing and receivable system designed to help your company take direct aim at one of the most controllable components of the expense ratio - premium accounting and collection - while simultaneously improving customer service and increasing cash flow.