profile
Nedbank
Insurance
Unique partnership with TCS develops new digital
experiences for clients, stronger internal operations,
and innovative product configurations
By Susanta Das, Client Partner-Nedbank Insurance,
TCS Financial Solutions
In 2017 Nedbank Insurance merged personal, commercial, and
life insurance businesses under a single brand and, as part of the
consolidation, became the first insurance company in the world
With the unified TCS BaNCS solution, Nedbank Insurance has
achieved early benefits including:
l Faster response time. Previously, changes had to
to run a single policy administration system—all powered by be made on multiple policy administration systems and
TCS BaNCS—for both life and non-life insurance products. ancillary systems for content management, document
(See TCS BaNCS Customer Newsletter #27 for more details.) management and workflow. Now, Nedbank Insurance
Since then Nedbank Insurance has successfully migrated the
bulk of its products to the single TCS BaNCS platform. By June
2018 any remaining closed-book policies will be added to TCS
BaNCS, and by early 2019 migration will be complete for the last
portfolio of open-book policies – a funeral insurance product that
has been running on a separate legacy system built for the South
African market.
can handle service requests, new feature requests, and
regulatory updates in a single solution.
l Improved client interactions. Client service agents can
now get a consolidated view of client information and contact
history across products. "Migrating to TCS BaNCS has changed
the conversations we’re having with clients as we can focus on
improving services rather than on managing infrastructure,”
says Indranil Bandyopadhyay, Head of Information Technology
Business Enablement at Nedbank Insurance..
l Standardized business processes. Nedbank Insurance
professionals are now able to support life insurance and non-life
insurance products. For example, following a weather-related
event, people who usually work on the life insurance side of the
business can lend a hand to the non-life side. Similarly, the non-
life side can support the life side during peak enrolment periods.
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