At TCS, we don’t just help businesses transform. We help them become perpetually adaptive enterprises, built to evolve continuously and confidently in a world of constant change.
Our expert, committed team put our shared values into action – every day. With the best talent and the latest technology we help customers turn complexity into opportunities and create meaningful change.
We are a digital transformation and technology partner of choice for industry-leading organizations worldwide.
At TCS, we believe exceptional work begins with hiring, celebrating and nurturing the best people — from all walks of life.
At TCS, we help enterprises grow through innovative solutions globally. Adapt and thrive with us.
Banking / WHITE PAPER
Saravanan Jagannathan
Solution Architect, Insurance Transformation Group, Banking, Financial Services, and Insurance, TCS
Prasanna Sekhar
Enterprise Architect, Insurance Transformation Group, Banking, Financial Services, and Insurance, TCS
Akram Abdulrazak
Practice Director, Insurance Transformation Group, Banking, Financial Services, and Insurance, TCS
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Life and non-life insurers have leveraged commercial off-the-shelf (COTS) platforms to enable digital transformation in insurance. However, there is scope to further enhance value. This will entail reimagining business models rather than just digitalizing business processes and services. In our view, adopting the Machine First™ approach in insurance can help engender innovational changes to insurance business models, enable a swift response to market and macro-economic shifts, and improve operational efficiency by leveraging automation, artificial intelligence (AI), internet of things (IoT), and advanced analytics. The machine first approach will help insurers deliver consistent customer experience, enable straight-through processing, and design unique but simple products. To implement the machine-first approach in insurance, insurers must:
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