Westpac Life NZ has selected TCS BaNCS Insurance platform from Indian IT services provider TCS, to assist it to upgrade and transform its life insurance software platform.
TCS claims that its TCS BaNCS Insurance platfform provides a complete solution for the insurance business, supporting all mainstream products, sales channels and lifecycle functionalities, including customer management, product definition, policy administration, claims management, insurance accounting and reinsurance.
TCS BaNCS Insurance supports insurance firms of different sizes and complexities across the globe and offers functionally-rich, flexible and user-friendly support for insurance operations.
The solution operates through a web-based interface supporting global organizations having multiple languages and currencies and can be easily customized to meet the specific business needs of any insurance service provider.
Westpac head of insurance Kevin Crowley said the transformation program will enable the insurance business to respond rapidly to changing market conditions as well as offer improved levels of service to Westpac’s customers.
TCS – Australia and New Zealand CEO Deborah Hadwen said partnering with Westpac’s Insurance division in New Zealand and see this as a strategic expansion of the growing relationship with Westpac, both in New Zealand and in Australia.