The report highlights TCS' investment in development and implementation of various offerings like TCS Autoscape, TCS Connected Universe Platform, TCS DigiFleet, TCS EVONe, TCS EzInsure and Conversational AI. Cited as a strength is the firm's focus on developing micro-insurance solutions and joint product developments through collaborations. Another key strength is TCS' actuarial team, comprising credentialed actuaries, actuarial consultants, actuarial analysts, and tool experts, and its end-user and agent focus groups.
'Progressive insurance carriers are increasingly adopting digital technologies to make their P&C insurance operations nimble and resilient. TCS has been helping insurance customers transform operations to unlock value and capitalize on the market opportunities,' said K Krithivasan, Business Group Head, Banking, Financial Services and Insurance, TCS. 'This recognition as a Leader by an independent third-party research firm is a reflection of our capabilities, innovation focus and unparalleled experience in the P&C industry.'
TCS has been the preferred partner to leading property and casualty (P&C) insurers across global markets, in their business and operations transformation initiatives. Over the last few years TCS has seen significant growth in this area with the addition of new logos and more transformation-led engagements.
TCS has matured its core offerings in P&C and moved up the value chain supporting more critical functions, niche products and language capability across multiple geographies. TCS works across commercial lines, personal lines, specialty products and broker services, and supports functional areas across the value chain - agency management, new business and underwriting, policy servicing, and claims processing. Currently, TCS manages over 53 million transactions a year across over 25 products in personal, commercial and specialty lines of businesses.
TCS' recent investments in domain and value-chain specific cognitive solutions augment its operations and digital transformation framework. Its insurance solutions provide insights, increase speed to market and create opportunities for straight through processing of new businesses and claims.
'Our expertise in the P&C domain, investment in innovation and intellectual property, and unique consulting approach make us the partner of choice to our P&C customers,' added K Krithivasan.
[1] Property and Casualty Operation Transformation NEAT,
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