insurance
Strategic Partnership
Old Mutual ’ s Savings & Income ( S & I ) products implemented with TCS BaNCS
Old Mutual South Africa will pilot its new platform for Savings & Income ( S & I ), based on TCS BaNCS for Insurance , with an initial focus on savings products . The pilot will be followed by a complete go-live in 2021 .
“ We are designing and delivering an entire range of Savings & Income products ,” says Neebashnee Rutland , Program Director , Old Mutual South Africa Transformation ( SAT ) for S & I . “ SAT is one of the largest strategic programs we have running .”
By Sirshendu Sen , TCS Client Partner , TCS Financial Solutions
“ We ’ ve improved on our side just from observing and working alongside the TCS teams .”
TCS was selected as a strategic partner for the program based on implementation experience , quality of support , speed of deployment , and agility in meeting a broad range of deployments .
With adoption of Agile methodologies , TCS has demonstrated how to accelerate delivery on a fast timeline . “ TCS is incredibly nimble , and over the last year and a half , we ’ ve improved on our side just from observing and working alongside the TCS teams ,” says Neebashnee . “ For me , it ’ s one of the aspects of the partnership between TCS and Old Mutual that I value the most as a manager .”
Even with disruptions related to Covid-19 , TCS helped keep the project firmly on track with cross-functional teams that continued to move forward according to schedule , given the program ’ s high complexity . “ The way it was managed and communicated to us was excellent , as we were told exactly what was happening to keep the wheels running ,” says Neebashnee . “ Our delivery dates stayed the same .”
This scope of work covers 24 insurance products for customers in South Africa and Namibia , including functional modules for sales , servicing , fund management , claims , correspondence , calculations and accounting .
The deployment also includes 28 interfaces as part of the digital front end , which is being designed and built by TCS with an aim to achieve significant reuse from the Protection line , the first LoB to go live . “ We made a conscious decision to hand over the design of the front end ( FE ) to TCS , which originally was held by a different service provider ,” says Neebashnee . “ TCS will now manage the end-to-end customer experience and advisor experience for Savings and Income .”
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