Overview
TCS is an IT services, consulting, business solutions, and Cognitive Business Operations (CBO) provider. It partners with customers to address the demands of the changing marketplace through a cognitive approach and develop cognitive solutions while delivering CX, operational performance, and technology landscape. TCS manages end-to-end business functions for insurers across Property & Casualty, Life & Annuities, Retirement & Pensions, and Healthcare Insurance. TCS believes in guiding its customers on their transformation journeys through its thought leadership framework and has made investments in key areas that include partner ecosystem, digital partnerships, AI, IT operations interplay, Analytics & Insights (A&I), and self-service options through digital channels.
Key Features
Suite of services: New business and underwriting Policy administration and services Claims management Subrogation Agency services Reinsurance Customer Experience Actuarial Analytics & insights Sales & acquisition support Recent Developments: 2022: TCS NextGen Underwriting solution transforms underwriting processes & enables insurers to focus on growth, by providing a frictionless buying experience for customers and helps them transition towards automated data driven underwriting. 2022: Parametric Insurance Payout: Blockchain Smart Contract based parametric insurance payout POC that pays a claim when a loss event from trusted source matches on predefined rules and limits on the policy. 2022: Complex Commercial Contract Management: A blockchain based de-centralized platform to manage multi party contract. Risk and contract details are recorded in the distributed ledger. Rules and contract negotiations are managed by smart Contract. 2022: TCS iReponse: An Artificial Intelligence based solution for automating the processing of e-mails from customers, solution enables straight through processing of customer e-mails. This is enabled by the text mining engine that is core component of the solution capable of real-time processing of e-mails and recommend actions when events occur outside of its knowledge base. 2022: TCS Intelligent Inspection System - Enables automation of pre-inspection processes using image analytics and aggregation of data from third party sources there-by fast-tracking underwriting/policy insurance. 2022: GoSafe- Smartphone based Telematics product (TCS GoSafe™) to collect and analyze the driving behavior related data and provide real-time feedback to consumers about their driving behavior. The solution includes prebuilt analytical models to explore various opportunities based on auto insurer’s own telematics data. This helps insurance companies to unfold hidden insights and there by provide customized products and services to their end customers. 2022: Auto Product purchase – It is an innovative insurance marketing that enables insurer to educate customers and market insurance products in augmented reality view.
Key Benefits
TCS partners with customers to address the demands of the changing marketplace through a cognitive approach and develop cognitive solutions while delivering CX, operational performance, and technology landscape. TCS manages end-to-end business functions for insurers across Property & Casualty, Life & Annuities, Retirement & Pensions, and Healthcare Insurance
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