Taking advantage of the opportunity afforded by a de-regulated market and to foster growth and improve customer experience, NIACL realized the need for an automated and integrated solution to replace existing legacy systems, consolidate data and centralize processes.
TCS BaNCS as the core insurance platform for NIACL, helped create 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 at 2,000 locations
65,000+ third-party insurance agents
212+ insurance products across 16 lines of business
90+ million policies
An average of 57,500 new or updated policies per day, with a peak of 83,500 policies issued in a single day