Swiss Re, one of the world’s leading providers of reinsurance, insurance, and other forms of insurance-based risk transfer, conducts its business with a clear vision: to make the world more resilient. The company supports its clients with its deep knowledge of risk and its capital strength, and helps the world rebuild, renew, and move forward.
A distinctive aspect of Swiss Re’s business strategy is leveraging ecosystems across its different businesses to go beyond conventional reinsurance into new products, services, and even entirely new models for risk business. It is creating new collaborative business models where it partners with corporates to create new solutions with embedded insurance, or with other insurers, reinsurers and even governments to leverage shared knowledge, expertise, and capabilities – protecting more customers, in newer ways.
TCS is helping Swiss Re realise this ecosystem vision in its credit and surety reinsurance business by building a cloud-native, microservices-based end-to-end underwriting platform, including the front-end digital channels and a digital marketplace that offers instant quotes.
The new platform will leverage cloud-native capabilities to help Swiss Re transform its underwriting processes, using larger and richer datasets, deep analytics, and automation to significantly enhance the underwriting quality, speed, and throughput. This will enable Swiss Re to provide a superior customer experience, offer a broader range of products, and take on more business.
TCS has been a collaborative technology partner in our drive for digital transformation.
The platform is being architected so that it can be opened up to other insurers or reinsurers, giving them access to new attractive risk pools through Swiss Re’s extensive network of banks and other lenders.
The partnership with TCS will equip Swiss Re with a platform to power future growth by expanding its underwriting capacity to take on new business, while creating an additional revenue stream from the ceded risk distributed to other reinsurers.
What Made it happen