New India Assurance Co. Ltd.

 

 

New India Assurance needed to bring in greater efficiency and achieve a higher percentage of growth annually. They found a certain way.

The market leaders in insurance in India for the last three decades, New India Assurance Co. Ltd. (NIACL) is a leading public sector general insurance company with over 2,000 branches spread across 26 regions in India. To foster growth and improve customer experience, NIACL realized the need for a fully web-based, integrated solution to replace existing legacy systems, consolidate data and centralize processes. Tata Consultancy Services (TCS) implemented its completely web-based Insurance Solution from TCS BaNCS  as the core insurance platform for NIACL, creating new procedures for accounting reconciliation, reporting, documentation and user communication alongside offering the much -needed centralized control. The TCS BaNCS Solution's configurability and strong IT architecture helped NIACL gain a distinct competitive edge in the market, supporting 19,000 employees, 50,000 insurance agents, 200+ insurance products across 16 lines of business and processing 50,000+ policies per day, adding up to 20 million policies per year.

 

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