4letter from the editor
On the momentous occasion of the 50th anniversary of Tata Consultancy Services , let ’ s look back to 1968 with a few choice quotes from S Ramadorai , former CEO and MD of TCS , from his book , The TCS Story … and beyond . “ The young , highly talented team of TCS was often more like a rowdy , boisterous bunch from the Wild West . Every new order created euphoria and each invoice was celebrated with a beer party on the terrace of Nirmal building . Winning a contract warranted a movie in the afternoon at one of the nearby theatres .” I can assure you that even though we ’ ve settled down quite a bit , our exuberance has not faded . We warmly welcome each new partnership and have great appreciation for the countless customers who have stayed with us for so many years and decades . “ In those early days it was as though TCS was a Silicon Valley startup .”
Fifty years later , we ’ ll match any Silicon Valley startup with our ability and willingness to experiment with the latest innovative technologies . Even better , as a large organization , we have the stability and proven delivery capabilities to put the best ideas into practice with organizations of any size and any business model .
“ Since its inception TCS has been a company staffed by highly
qualified professionals . Enhancing learning and the professional
well-being of its people was the company ’ s core strength and indeed its raison d ' être .” Some things never change . With over 394,000 of the world ’ s besttrained consultants in 46 countries , TCS prioritizes the development and well-being of its people as part of our core values :
Leading change , Integrity , Respect for the individual , Excellence , and Learning and sharing .
In this special insurance issue of the TCS BaNCS Customer Newsletter , we celebrate the extraordinary accomplishments of the Insurance team of TCS BaNCS .
In recent months , we have achieved several market firsts . We just signed a partnership with Transamerica , the largest-ever deal in TCS ’ 50-year history , and the first deployment of the insurance solution of TCS BaNCS in the United States . ( We will cover this story at length in a future issue .) We have also begun our first life and pensions deployment in Australia with MLC Life Insurance ( see
page 16 ), and our first insurance deployment in Southeast Asia with BestServe in Hong Kong ( see page 20 ).
To an unprecedented degree , insurance companies are relying on TCS BaNCS as their single platform for multiple lines of business , replacing in the process dozens of legacy policy administration systems ( PAS ) and hundreds of ancillary systems for customers including MLC Life Insurance , BestServe , and South Africa ’ s Old Mutual Life Assurance Company ( see page 28 ). Also in South Africa , Nedbank is the first in the insurance industry to combine life and non-life policies onto a single system ( see newsletter # 27 and page 24 of this issue ).
TCS BaNCS is also the choice for insurance companies building digital solutions that represent the future of the customer experience . Whether it ’ s Nedbank ’ s build-your-own-policy bundle , Old Mutual ’ s shopping-cart front-end experience , or ICICI ’ s demonstrated capacity to sell 300,000 low-cost policies in a single day ( see page 30 ), the future of insurance is being guided by our customers .
The future of compliance can be seen through our recent experience helping 13 insurance companies in India to implement a comprehensive Goods and Services Tax . The architecture of TCS BaNCS and the delivery capabilities of TCS made it possible for each of these insurers to achieve a smooth rollout on an extremely tight deadline ( see page 32 ).
We at TCS have much to celebrate at 50 years of age , and we do so with endless gratitude to our esteemed customers .
Until next time …
Dennis Roman
For any inquiries : Email : tcs . bancs @ tcs . com Phone : + 91 80 6725 6963
Global Head - Products & Platforms Marketing Tata Consultancy Services Ph : - 561 865 3339 Cell : - 954 806 6660 Fax : - 561 865 3388 Mailto : dennis . roman @ tcs . com Website : http :// www . tcs . com https :// www . linkedin . com / in / marketingasitshouldbedone