Bajaj Allianz General Insurance Moves to the Cloud with TCS

Bajaj Allianz General Insurance has moved its core policy administration system for its travel line of businesses to the TCS BaNCS for Insurance.

The Bajaj Allianz General Insurance is India's biggest player in casualty and property verticals. The firm has moved its core policy administration system for its travel lines of businesses into TCS BaNCS cloud for insurance, notes the announcement.

TCS BaNCS is a cloud and digital software platform for the financial services firm. The announcement revealed that the platform would help Bajaj Allianz General Insurance company to adopt next-gen technology while using cognitive solutions.

Bajaj Insurance revealed that the embrace of cloud and emerging technologies would enhance operational efficiencies and improve customer experience.

This migration and deployment to TCS BaNCS on Amazon Web Services platform Bajaj Allianz the first premier general insurance carrier in India to embrace a cloud platform said the notes.

Executive Opinion

Managing Director and CEO, Bajaj Allianz General Insurance, Tapan Singhel, said, "It’s always been our passion to solve customer worries, deliver an exceptional experience and most importantly be there in their time of need. We believe that, new age technology is a great facilitator for providing best in class customer experience. Deploying TCS BaNCS Cloud for Insurance on AWS platform is a significant milestone for us. With this new cloud platform, we will be able to leverage an array of digital technologies in addition to optimizing our infrastructure for better availability and scalability."

Country Head, TCS India, Ujjwal Mathur, said, "In a Digital First, Cloud First world, TCS BaNCS for Insurance is the digital core that has been helping progressive insurers across the world accelerate their Business 4.0™ journeys, power their growth and create exponential value for their stakeholders. We are delighted to onboard Bajaj Allianz on our high-performance, future-ready cloud platform and help deliver superior outcomes."

TCS and Bajaj Insurance collaboration

TCS revealed that it BaNCS cloud for insurance is an end to end core insurance SaaS solution spanning life, pensions, annuity, casualty and property, health, and reinsurance.

According to the announcement from the company, the platform supports multiple public and private clouds, thus enabling insurers to reduce their costs of IT infrastructure while delivering some other benefits of the cloud.

According to the TCS report, it would use technologies, including conventional AI, to guide and advise end customers.