TCS BaNCS implemented at Zurich Insurance DIFC

23 May 2023 , 01:33 PM

Tata Consultancy Services (TCS) has recently revealed the successful implementation of TCS BaNCS Insurance for Property and Casualty insurance services by Zurich Insurance Company Dubai International Financial Center (DIFC). 

This deployment has led to a significant transformation of Zurich's business operations, enabling them to get a diverse range of business advantages.

In their quest to automate business processes, expedite claim settlement, streamline accounting closure, and maintain data consistency, Zurich Insurance Company Dubai International Financial Center (DIFC) sought a suitable solution. 

They found their answer in TCS BaNCS, which stood out for its extensive functional capabilities, paving the way for growth and transformation for Zurich DIFC.

TCS BaNCS for Property and Casualty insurance presents a comprehensive suite of insurance solutions that effectively handles a diverse array of intricate contracts and calculations, ensuring enhanced regulatory compliance and auditability. 

With its parameter-driven component-based architecture, the solution offers flexible configuration and customization capabilities, empowering Zurich Insurance Company Dubai International Financial Center (DIFC) to accelerate the launch of new products.

Encompassing every aspect of the property and casualty (P&C) value chain, the solution provided by TCS BaNCS caters to various stages including product management, underwriting and new business, policy servicing, claims operations management, reinsurance, and insurance accounting. 

Embracing a Digital First and Cloud First approach, the solution incorporates additional functionalities like mobility, portal, and data analytics, ensuring comprehensive coverage and modern capabilities for Zurich Insurance Company Dubai International Financial Center (DIFC).

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