We are taking you to another TCS website now.

success story

AIC of India Accelerates Service Delivery

TCS BaNCS helps Agriculture Insurance Company reduce TAT and drive operational efficiency

 
Client
Agriculture Insurance Company of India Ltd
Industries
Insurance
Service
Insurance

Challenge

AIC needed a robust IT solution for seamless service delivery across India.

With 17 regional offices across the country, Agriculture Insurance Company of India Ltd (AIC) is committed to providing the best of services to over 24 million farmers and stakeholders (banks, co-operatives, micro-insurance agents) across the country. AIC felt the need for a robust setup backed by an integrated IT environment with streamlined business processes and automated functions, to ensure maximum outreach of its crop insurance schemes. The company decided to collaborate with TCS BaNCS to drive business agility and ensure service delivery in the remotest of locations.

Solution

TCS BaNCS implements core insurance modules, helps AIC increase farmer enrollment by 126%.

Backed by TCSBaNCS’ strong domain expertise and implementation roadmap, TCS BaNCS for Insurance was chosen for AIC’s IT transformation initiative – Project Annapoorna. The solution included:

  • Value-added satellite services such as payment and SME gateways, a call center, CCIL platform, STP gateway, email

  • High-speed MPLS network with state-of-the-art firewalls and intrusion detection/prevention systems that ensure high performance connectivity and business-as-usual during downtime

  • An interactive, user-friendly online portal for customers to choose different crop insurance e-services anytime, anywhere.

  • An IT Helpdesk for monitoring and problem resolution

  • Core insurance modules such as business partner maintenance, policy issuance, policy servicing, claims, reinsurance

Won ’Best Policy Administration’ Award at Model Insurer Asia 2013, instituted by a leading financial analyst firm

Picture

Benefits

AIC boosts service delivery and increases gross premium income by 395%.

Leveraging TCS BaNCS for Insurance, AIC was able improve its existing product portfolio, identify new product lines, and enhance market density and spread. The solution provided a stable, secure, and integrated IT ecosystem with a single view of data that enabled faster payments. With SAS for analytics and MIS for reporting, the solution helps the company make critical business decisions faster. 

395%

increase in revenue, post implementation

126%

increase in farmers enrollment

212%

increase in land insured

215%

increase in risk assumption of sums insured

What's your challenge?
Let's work together to solve it.