Old Mutual is South Africa's first mutual life assurance society employs over 30,000 people and operates in 14 countries across Africa and Asia.
As a part of its strategic initiatives, Old Mutual is launching a new line of savings and Income products and TCS BaNCS was selected as its delivery partner for the program. The insurer piloted its new insurance platform based on TCS BaNCS for Insurance, prior to a complete go-live in 2021.
Building on a three year long working partnership, TCS BaNCS seamlessly carried out this challenging transformation across 24 insurance products including sales, servicing, fund management, claims, correspondence, calculations and accounting. The scope of this transformation also covered a digital front-end solution and an advisory portal, all while responding to the regulatory changes and ensuring an enhanced digital user experience.
Read more on how TCS BaNCS demonstrated accelerated delivery on a fast timeline, even with the disruptions related to the COVID-19 pandemic.