Enabling BNI to benefit from increased speed

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Enabling BNI to benefit from increased speed
Enabling BNI to benefit from increased speed
of distribution, and elimination of paperwork,
manual errors and administration redundancies,
thereby allowing for an efficient workflow with
insurance solution from TCS BaNCS
“We have built an e-commerce portal on top of TCS
BaNCS system to cater to B2B and B2C processing.”
Khalid Rashid Jalal,
IT Manager
Bahrain National Insurance Company (BNI), is the largest non-life
insurance company in Bahrain. BNI was looking for a robust IT
system that would help the business grow while also providing
them with greater operational control. With the insurance solution
from TCS BaNCS, BNI was able to control on risk exposure, enhance
flexibility and improve customer service.
Bahrain National
Insurance Company
About the Client
BNI is the largest non-life insurance company in Bahrain offering approximately 70 different products in personal and
commercial lines of property and casualty insurance, including motor, marine, fire, accident, engineering, among
others. It administers over 250,000 policies and 150,000 claims. Bahrain National Holding Company (BNH), is the
parent company of BNI. Operating under the BNI brand (Bahrain National Insurance) as the largest insurer in Bahrain,
it has become the force behind economic development in Bahrain and the Gulf region.
Business Context
TCS' Solution
BNI was looking at growing its insurance business
rapidly while also gaining additional control in its dayto-day operations in the property and casualty lines of
business. More so, reinsurance projects required strong
IT systems capable of tracking, managing and
negotiating information across the entire lifecycle of a
policy or claim. It needed an Integrated IT system that
would address all business and functional requirements,
be accessible ‘anywhere anytime’ via the web, and
customer facing documents in Arabic and unified
messaging. Further, it also needed an e-commerce
portal that would help it address B2B (Business-toBusiness) and B2C (Business-to-Customer) processing.
The insurance solution from TCS BaNCS was configured
to suit the entire core insurance, reinsurance and
accounting functionalities required by BNI in both
personal and commercial lines of business for property
and casualty insurance operations. It was implemented
as a complete end-to-end solution, supporting all
mainstream products, sales channels, and lifecycle
functionalities, including customer management,
product definition, policy administration, claims
management, insurance accounting, reinsurance and
more. The insurance solution from TCS BaNCS helped
integrate the reinsurance and accounting component. It
helped identify the facultative placement, after
considering possible accumulation scenarios required
during the issuance process.
A B2C web portal and B2B application for motor and
travel insurance was integrated with the e-commerce
portal to incorporate the agency channel. Through this
application, motor and travel agencies can directly issue
and generate policies and also collect premiums for
customers online.
“Having been involved in the insurance industry on the IT side for about 15
years, what impressed me about the TCS BaNCS solution was the delivery
methodology, the modularity of the system and the flexibility in designing
products. TCS has really gone out of their way to make an effort for us.
When I do ask for something, they send the right people with the right
knowledge. We have many new ideas and challenges ahead, and I feel quite
comfortable that TCS BaNCS will be able to cater to our growing needs.”
Adrian Reid,
IT Consultant
Experience certainty
True certainty of success comes from working with a partner you trust to provide
the insight, support and expertise that will propel your business forward. Experiencing
certainty with TCS means you can count on results, partnership and leadership.
Speed-to-market and flexibility. With the insurance
solution from TCS BaNCS, BNI can now introduce
new products rapidly, while it is also able to adapt to
changes to existing products and processes. Through
a simple and efficient mechanism for new product
introduction, definition of rates, exceptions, and
processes, BNI can meet all its business demands in a
better manner.
Enhanced operational efficiency. BNI has benefited
from increased speed of distribution, and the
elimination of paperwork, manual errors and
administration redundancies, thereby allowing for an
efficient workflow.
Multi-channel delivery. BNI increased production
through the diversification of delivery channels.
The product suite for banking, capital markets and insurance enables business transformation in
financial services. Increasing operational efficiency and helping financial institutions stay agile,
our solutions deliver a competitive edge with unmatched certainty. We aspire to be better than
established benchmarks, which is why we have embedded an Alpha (“ ”), representing superior
returns delivered to our customers, consciously and prominently within our brand. The plug and
play, component-based product suite consistently turns in impressive benchmark results, with a
fine-tuned, highly scalable technology architecture that supports financial institutions with the
highest capacities for transaction volumes, peak transactions per second, and transaction
history size. With such a track record, it is only natural that the TCS BaNCS product suite can help
financial institutions ofany size gain a distinct, competitive edge.
For more information, visit:www.tcs.com/bancs
To know more about us, contact [email protected]
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About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that
delivers real results to global business, ensuring a level of certainty no other firm can match.
TCS offers a consulting-led, integrated portfolio of IT and IT-enabled infrastructure, engineering
and assurance services. This is delivered through its unique Global Network Delivery ModelTM,
recognized as the benchmark of excellence in software development. A part of the Tata Group,
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