Bahrain National Holding selects TCS BaNCS for Insurance to drive Innovation and Growth
Core Platform to centralize 90 products and unify Non-Life and Life business operations
Mumbai, June 7, 2018: Tata Consultancy Services (TCS), (BSE: 532540, NSE:TCS), a leading IT services, consulting and business solutions organization, announced that Bahrain National Holding (BNH) has selected TCS BaNCS for Insurance as part of its ambitious transformation strategy to enhance both Enterprise Agility and Customer - centric growth in Bahrain.
BNH offers a full range of products for businesses and individuals and has embarked on a program to re-engineer their technology infrastructure for their next generation customer base. This transformation will include the enabling of New Business & Underwriting, Policy Administration, Claim Servicing, Agency & Commission, Product Workbench & Security and Accounting & Reinsurance all within the new system for all its branches spread across the country which will include Non-life, Health & Life operation.
Outlining their rationale and selection of TCS BaNCS, the CEO of BNH, Sameer AlWazzan said, “We desire to bring innovation and launch products that match global standards to our customers. TCS BaNCS offers us the agility to not only merge two large lines of businesses but develop and roll out newer products much faster. This unification of multiple lines of business will reduce operational and regulatory complexity and vastly improve efficiency and lay the foundation for enhanced digital adoption.”
“The Ability to bring rapid innovation and enhance the customer experience is now central to a modern Business 4.0 Enterprise,” said Venkateshwaran Srinivasan, Head – TCS Financial Solutions. “We are enabling BNH to further sharpen their customer focus and become more nimble in anticipating and delivering to customer needs. To win consistently in the marketplace enterprises like BNH need to move away from an IT centric view to a customer oriented view. We are glad to be partnering with BNH on this transformation journey and we applaud BNH’s vision to redefine Insurance in Bahrain.”
ABOUT Bahrain National Holding
BNH, formed in 1998 – a merged company of formerly Bahrain Insurance Company and National Insurance Company– and owner of Bahrain National Insurance Company (bni) offers a full fledged range of Insurance and Management of Risk solutions. The Group’s paid-up capital of BD 11.35 million which makes it one of the most secure insurance companies in the Gulf region. The Group’s portfolio includes Bahrain National Life Assurance Company (bnl) specialized in Life & Medical Insurance along with other associate companies; United Insurance Company (Bahrain), Arabian Shield Cooperative Insurance Company (Saudi Arabia), Al Kindi Specialized Hospital (Bahrain) and National Finance House (Bahrain).
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About TCS Financial Solutions
TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. With a global customer base of more than 370 institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the banking, capital markets and insurance industries worldwide. For more information, visit us at https://www.tcs.com/bancs
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for the last fifty years. TCS offers a consulting-led, Cognitive powered, integrated portfolio of IT, Business & Technology Services, and engineering. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 394,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $19.09 billion for year ended March 31, 2018 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
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