IT major Tata Consultancy Services on Tuesday announced that it will be providing business process solutions to Zurich Insurance Company Dubai International Financial Center (DIFC) through its product TCS BaNCS.
Zurich DIFC was looking for a solution to automate business processes and accelerate claim settlement and accounting closure, while ensuring data consistency, the IT major said in a statement.
TCS BaNCS for Property and Casualty, which is a complete insurance solution suite to manage a wide range of complex contracts and calculations, will provide comprehensive functional capabilities to drive growth and transformation, the statement said.
The company, however, did not disclose financial details of the deal.
The solution covers all stages of the P&C value chain, including product management, underwriting and new business, policy servicing, claims operations management, reinsurance, and insurance accounting, TCS mentioned.
The IT services giant also announced that Jaguar Land Rover has partnered with TCS to launch its Open Innovation Program in Israel to co-create mobility solutions with startups in Tel Aviv.
TCS has been a partner to JLR for more than a decade, contributing to the success of key transformation initiatives across its value chain.
The company on Monday also announced that a consortium led by Tata Consultancy Services has received an Advance Purchase Order valued over Rs 15,000 crore from BSNL for the deployment of a 4G network across India.
Shares of TCS are trading little changed at Rs 3,301.80.
