TCS BaNCS for Property and Casualty

TCS BaNCS for Property and Casualty provides P&C insurers significant flexibility in terms of configurable product definition and life-cycle management, along with template products integrated with business rules engine.

Comprehensive workflow-driven business processes, including new business, policy servicing, producer and commission management, claims administration, reinsurance with single view of customer.

Out‐of‐the‐box restful APIs with API security managed through Apache WSO2. Comprehensive core API catalogue containing 1200+ APIs.

Packaged with digital capabilities with add-on digital components, viz., Customer / Agent / Service Provider portals, Digital Contact Center, Digital Service Center for back office staff, Analytic solutions. It also provides a multi-currency/channel/entity/language experience.

Extensive layer for configuration to accommodate extension of customer-specific GUI, rules, processes and services.

TCS BaNCS is available in SaaS model with cloud-agnostic implementation options ex: AWS, Azure, OCI, etc.

Highly flexible tool-based self-service administrative operations by insurance company staff:

- Product Administration using Product Workbench

- Business Rules Administration using Rules Engine

- Tariff Administration using Multi-Dimensional Tables

Support for end-to-end business operations:

- Policy Administration

- Claims Administration

- Stakeholder Management

- Reinsurance

- Insurance and Reinsurance Accounting

- Reports and Analytics

Digital-First Approach:

- Customer, Agent, Service Provider portals

- Digital Contact Center

- Digital Service Center

Easy Integration:

- API Library

- Microservices (quotation, document management, workflow)

- API Marketplace

SaaS-based cloud-agnostic offering based on microservice and cloud-native architecture:

- providing our customers elasticity and flexibility to adapt based on workload changes

- and offering value in terms of redundancy

Tailored solution options - customers can opt for full functional coverage (all components), or select components and microservices-based implementation options for immediate realization of invesments.

Customers can launch new products and achieve superior speed to market with the help of various out-of-box features, such as a comprehensive rule engine and tools for migration and product cloning. Reusable libraries of geography-specific product templates, tariffs and reports aids in faster product launches.

Large repository of APIs covering over 90% of the product features being exposed as APIs. More than 1500 APIs are published on TCS BaNCS Marketplace, whereby customers and innovation partners can create integrated solutions and get the benefit of larger connected ecosystems.

Customers can achieve greater operational efficiency, automation and channel integration with the help of AI-driven low-touch user journeys leveraging NLP, Visual Computing, IOT, Data Analytics, etc., most available out-of-box or via integration with BaNCS Insurance Ecosystem Partners.

Digital offerings to cater to various players in the ecosystem, eg: customer, advisor, surveyor, operations, managers, etc.