TCS BaNCS™ for Insurance
Precise. Intelligent. Transformative.
At TCS, we don’t just help businesses transform. We help them become perpetually adaptive enterprises, built to evolve continuously and confidently in a world of constant change.
Our expert, committed team put our shared values into action – every day. With the best talent and the latest technology we help customers turn complexity into opportunities and create meaningful change.
We are a digital transformation and technology partner of choice for industry-leading organizations worldwide.
At TCS, we believe exceptional work begins with hiring, celebrating and nurturing the best people — from all walks of life.
Precise. Intelligent. Transformative.
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Experience impactful digital transformation with an AI-powered platform for insurance administration.
In today’s fiercely competitive and rapidly evolving insurance landscape, insurers and pension providers strive to be seen as innovative, efficient, and digitally adaptive. TCS BaNCS for Insurance is just that. With a number of cutting-edge solutions, TCS BaNCS for Insurance transforms insurance businesses into digital powerhouses with its digital-first, cloud-first solutions leveraging AI and advanced analytics, enabling smart user journeys. With its cognitive product configurator and dashboards, TCS BaNCS for Insurance helps insurers become more efficient while launching new products with extreme agility.
With its robust data streaming, curation, and pipeline of organizational, external, and unstructured data, the next-gen TCS BaNCS for Insurance enables insurers to discover the next level of personalization, accessing the full potential of the business ecosystem. The inherent modularity of TCS BaNCS for Insurance and an array of proven microservices help insurers de-risk transformations of any scale and complexity.
Comprehensive value chain coverage across all lines of business
Process automation and channel integration with embedded AI
Cloud-optimized architecture
Innovation, speed-to-market, and personalization through virtual assistants
Data-driven enterprise
TCS BaNCS for Insurance, with its cloud-first model, provides the flexibility and scalability demanded by insurance and pension providers to identify market opportunities and address challenges through automated, efficient business processes. The dynamic and intelligent solution delivers greater efficiency and a transformative experience while focusing on customer centricity. Designed for interoperability, TCS BaNCS for Insurance integrates seamlessly into carriers’ operational and extended business ecosystems.
In over 15 years, TCS BaNCS for Insurance has carved a presence in more than 60 of the world’s leading insurers across 20 nations, spanning life, retirement, health, property and casualty, and reinsurance. Backed by decades of experience, our team of experts brings a rare mix of technology and domain expertise to transform any challenge into an opportunity for its customers.
Residing on a digital core, TCS BaNCS for Life Insurance and Pension supports conversational AI to guide and advise users through their business journeys. The TCS BaNCS’ new cognitive product configurator makes agile product launch a reality, reducing time-to-market to a matter of days. The solution offers a rich set of domain APIs that simplify ecosystem play and enable interoperability across channels and business lines. With regulatory readiness, the solution is slated to rapidly expand its global footprint.
TCS BaNCS for Property and Casualty Insurance encompasses all facets of property and casualty insurance management. This platform is equipped to handle the entire insurance value chain, including product management, underwriting, policy servicing, claims operations management, reinsurance, and insurance accounting. The digital operating model with process automation allows insurers to respond effectively to market dynamics and customer demands.
TCS BaNCS for Health Insurance offers comprehensive solutions, including individual, group, voluntary benefits, and more, through both cloud and on-premises platforms. The solution is parameter-driven, follows a component-based architecture, and allows flexible configurations to meet specific business needs and deliver tailored personalization. It is enabled with pre-configured packaging of features and functionalities and incorporates worldwide best practices through its strong partner networks.
TCS BaNCS for Reinsurance, a globally proven core reinsurance application, is an offering from the TCS BaNCS for Insurance. This comprehensive reinsurance solution supports end-to-end requirements of administering reinsurance for life insurance, health and non-life insurance products. It manages outward (ceded) and inward (assumed) reinsurance operations for primary insurers and reinsurers of any size across markets. It manages the full cycle of reinsurance functions, from defining the treaty to handling policy cession administration, claims recovery processing, and reinsurance accounting utilizing advanced analytics and real-time reporting capabilities.
Life and pensions policies
Non-life and health policies
Out of 10 UK insurers
Non-life insurers in India
Top Middle East insurers use TCS BaNCS for Life Insurance and Pension
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