TCS BaNCS Insurance solution will facilitate timely apportionment of premium, claims, service tax and other income and expenses, thereby enabling an efficient multilateral reinsurance arrangement between the constituents of Indian Motor Third Party Insurance Pool (IMTPIP).
J. Augustine, deputy general manager of General Insurance Corporation of India (GIC), said: TCS BaNCS Insurance solution has been implemented by TCS Financial Solutions within a very short time schedule. The changes at frequent intervals were incorporated easily and the solution delivered was of excellent quality. This highly flexible business application solution facilitates Indian Motor Third Party Insurance Pool to consolidate and process all its policy information in one place. The project team from TCS Financial Solutions fully understood the complex business requirements of the Motor Pool and provided valuable expertise during the development and deployment phases.
N. Subramaniam, president of TCS Financial Solutions, said: TCS BaNCS Insurance product provides a flexible and highly functional solution for the world’s leading insurance companies that are aiming to maximize efficiency and minimize risk whilst modernizing their core legacy systems. With TCS BaNCS agile and secure Insurance solution clients are able to streamline policy operations and launch new products across multiple distribution channels.
