AT A GLANCE
Company : Old Mutual Life Insurance Company
Headquarters : Cape Town , South Africa
Business Challenge : To deploy a new Savings & Income ( S & I ) product line .
Solution : TCS BaNCS for Insurance
Advisors typically handle sales and servicing , which makes the advisor portal a critical part of the deployment . “ With TCS BaNCS , the advisor experience is going to be much more streamlined and more empowering for both our advisor and customer ,” says Neebashnee .
TCS has also enabled Old Mutual to respond quickly to regulatory changes , such as changes to commission payments and an increase in the value-added tax ( VAT ) rate . “ We were able to pivot incredibly quickly to add new requirements without affecting delivery dates ,” says Neebashnee .
Given the highly regulated marketplace for S & I products , a key differentiator is the digital experience . “ What we sell is governed largely by the legislative and compliance requirements we have in
place ,” says Neebashnee . “ It ’ s how we sell that ’ s important , by taking the product to our clients and delivering with speed and innovation .”
“ On both counts , TCS has pushed us to improve ,” she adds . “ The experience that TCS brings from its global client base gives us insights about how we can better our process .”
Based on a strong working partnership , Old Mutual can ask for what it needs without having to go through lengthy change requests . For example , when Old Mutual noticed one project stream taking longer than anticipated , TCS quickly responded by deploying two teams running in parallel to look at different sets of transactions . “ We approached the work differently in a way that served us well ,” says Neebashnee .
The partnership between Old Mutual and TCS makes both parties equally invested in the delivery . “ I feel the accountability for the program doesn ’ t only sit on my shoulders – it ’ s something that we both share ,” says Neebashnee .
The success of this phase sets the stage for upcoming collaborations . “ We are branching out and looking at new and different ways of doing business , and the foundation we have built with TCS and the knowledge we ’ ve built together over the last three years bodes well for the future ,” says Neebashnee . “ Our strategic partnership is a foundation for moving forward ." l
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