Tata Consultancy Services (TCS) announced that Standard Bank Insurance in South Africa has selected TCS BaNCS Cloud to power its digital claims.
TCS BaNCS Cloud for Insurance will be offered on a SaaS model on AWS Cloud and will help the insurer harmonize more than 60 products spread across four claims administration platforms, enabling faster and accurate claims processing.
The solution will also integrate with 16 different downstream applications including the enterprise GL system, payment gateway, CRM, business intelligence solutions, as well as all other peripheral systems identified in Standard Bank Insurance’s technology roadmap.
TCS BaNCS APIs will help Standard Bank Insurance connect to ancillary systems easily and offer personalized experiences to their customers. Additionally, TCS’ analytics and data-driven insights tool will help in decreasing customer churn and speed up decision-making related to claims settlements.
TCS BaNCS Cloud handles over 100 million transactions per month for more than 220 customers across the world.