4 LAYERS of updates for TCS BaNCS insurers
4 LAYERS of updates for TCS BaNCS insurers
The customer layer acts as a repository for modifications specific to a single organization or business unit . With its “ loosely-coupled ” design , customers can make material changes to accommodate their own business processes and data structures without having to customize any of the other layers . These customer modifications are forward-compatible by design , and easily adaptable to successive updates to the core , business , or geography layers of TCS BaNCS .
The business layer extends the data definitions for specific market segments . This includes industry-specific data models for both life and non-life insurance , and for associated constructs . These are abstracted so as to be relevant across geographies and companies .
This year ’ s updates to the business layer include : l API-fication : Release of over 300 RESTful APIs , enabling developers to easily integrate TCS BaNCS with any third-party application using industry-standard JSON objects . ( Note : “ RESTful APIs ” are Application Program Interfaces that adhere to the widely-used Representational State Transfer , or REST , architectural style in web development . JavaScript Object Notation , or JSON , is a human-readable datainterchange format .) l Privacy Compliance : Support for the articles of the General Data Protection Regulation ( GDPR ), including identification , erasure , and data extracts of Personal Identifiable Information ( PII ), and support for both pseudonyms and exemptions .
The core layer consists of foundational elements shared across all TCS BaNCS customers in every domain , including the core data models , rules engine , workflow engine , and infrastructure-level processes .
This year ’ s updates to the core layer include : l DB2 database compatibility . TCS BaNCS for Insurance is now compatible with both DB2 and Oracle databases , leaving customers with improved flexibility to choose between the two for either cloud or hosted deployments . l Integrated Rules and Workflow Engines : Enables seamless triggering of business events , and workflow escalation based on authorization limits .
The geography layer contains business processes for country- and statespecific rules and regulations , and product templates that provide insurers with a foundation for fully-compliant product launches .
This year ’ s updates to the geography layer include : l Australia market readiness : Templates for Group Term , Whole Life , and Annuities ; implementation of Tax File Number ( TFN ) for Australian individuals and entities ; FATCA and CRS checks for non-resident tax compliance ; Unclaimed Asset Register ; Sanctioned Entity screening based on US and UN assessments ; Anti-money laundering and counter-terrorism financing during the KYC process ; GST and stamp duty processing ; Departing Australia Superannuation Payment ( DASP ) handling ; and income drawdown claims . l US market readiness : Templates for Variable Universal Life , Indexed Universal Life , Fixed and Variable Annuities , and for traditional lines including Term Life , Whole Life , and Group Term . l India market readiness : Various regulations were updated , including support for the Goods and Services Tax ( GST ) in premium collection , refund , claim payout processing , and tax provisioning ( see page 32 for more on GST ).
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