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SUCCESS STORY

National Insurance Elevates Profitability

TCS BaNCS for Insurance streamlines reinsurance processes, enhances performance 

 
Client
National Insurance Company Ltd.
Industries
Insurance
Service
Insurance

Challenge

National Insurance wanted to integrate processes and eliminate business inefficiencies.

One of the top five general insurance companies in the Asia Pacific region, National Insurance wanted to strengthen its leadership position. However, National Insurance’s legacy systems lacked the capability to integrate reinsurance underwriting and reinsurance accounts. National Insurance recognized the need for an end-to-end system that would enable better control over reinsurance operations. TCS BaNCS for Insurance was deployed to help the company elevate its business performance and profitability. 

Solution

TCS BaNCS reengineers reinsurance processes, eliminates manual intervention.

TCS BaNCS’ reinsurance underwriting and reporting modules were customized to better meet the company’s needs and allow for easy generation of reports. The web-based solution allows the employees of National Insurance to access the system remotely, while its component-based architecture allows the company to easily cater to the ever-growing demands of the reinsurance business.

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Benefits

National Insurance improves profitability by streamlining reinsurance operations.

TCS BaNCS for Insurance helped National Insurance:

  • Gain greater visibility into and control over operations

  • Eliminate manual processes

  • Integrate functionalities for all reinsurance processes

  • Enable faster settlement and payment transactions

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