from within insurance companies, from their external tax
consultants, or even from regulatory guidance.
NOTES OF APPRECIATION
There are 13 P&C insurers in India running on the
TCS BaNCS Platform, in total representing 70 percent
of the total P&C volume in India. For help with the GST
It gives me immense pleasure to inform you all that we have
implementation, these 13 insurers turned to TCS—in its
passed the giant challenge of GST implementation without any
capacities of a consultancy, as a business application
major hiccups.
provider, and as a solution integrator.
Insurance companies in India tend to have anywhere from
50 to over 200 insurance products in their portfolios, and
The commitment shown for ensuring smooth delivery is really
commendable and is appreciated by RGICL Management.
Ashish Dhar
TCS identified 50 to 60 distinct processes where GST would
Associate Segment Heads - IT Projects
have a substantial impact for each policy. This represented a
Reliance General Insurance Co. Ltd.
tremendous undertaking, involving changes not only to core
processing systems, but also to enable the steady production
of documents, certificates, and reports for policyholders,
I thank each one of you and your teams in making GST functionality
service providers, suppliers, regulators, and tax authorities.
live. It has been a tremendously high-pressure period over the last
TCS stayed well ahead of these changes. In January
8 weeks but thanks to each one of you and your team’s commitments,
2017, the TCS BaNCS Product Team, in consultation with
we have been able to meet the deadlines.
the various account teams, initiated discussions with the
This period has seen multiple changes in the requirements and
subject-matter experts at each of the 13 Indian insurance regular repeat of testing but each of you have taken this in your
companies. Through these discussions, TCS established a stride as the external situation was very fluid, and clarity on items and
common strategy and approach for tackling the technical business rules kept coming in till the last minute.
and functional challenges of GST through a uniform process.
The magnitude of change has been large, impacting almost all our
This extended to managing the many grey areas, which also systems, and it is heartening to note that we have not missed any
had to be identified, tracked, and resolved consistently. Integration/Functionality.
Each week, the TCS BaNCS Product Team organized a
A great job done, to each one of you, and thank you very much
detailed internal call with SMEs and program managers from
once again.
each account, to discuss the intricacies and specifics for each Hats Off !!!! insurer so that the common GST framework would be capable Suresh Sankar
of handling any business scenario or variation. The best Executive Vice President and CTO
practices established through those calls were then presented Kotak General Insurance Company Ltd.
individually to each insurance company for their review,
advice, and guidance—which fed back into the weekly
internal calls. This cyclical process ensure d that all issues were
being identified and addressed in a timely manner.
During June 2017, the month prior to the GST rollout, the
subject-matter experts, consultants, and associates at TCS
worked tirelessly to uncover any potential problems. Along
with system configurations and customizations, TCS also
provided consultancy advice as needed to insurers’ business
teams to facilitate rapid adaptation to the new tax regime.
The result was a smooth rollout for each of the 13
insurance companies using TCS BaNCS, with a seamless
switchover from the prior tax regime to GST at the stroke of
midnight on July 1, 2017.
I would like to thank the entire TCS team for smooth
implementation of GST First Phase for policy issuance.
Well done, team TCS. I appreciate each team member for
their efforts for 1000-plus deliveries within 20 days’ time
and support during UAT. A great achievement.
All senior management of Chola MS appreciates the
smooth implementation for such big changes.
Bhaskara Rao Koti
Deputy General Manager – IT
Cholamandalam MS
General Insurance Company Ltd.
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