Business Process Services
Insurance Services
Insurers worldwide are facing challenges in achieving sustainable growth with...
All content / information present here is the exclusive property of Tata Consultancy Services Limited (TCS). The content /...
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TCS Insurance Business Process Services


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TCS Insurance Business Process Services

  1. 1. Business Process Services Insurance Services Insurers worldwide are facing challenges in achieving sustainable growth with the surety of cost effective delivery. They are looking for partners that allow them to be flexible and innovative in the experience they offer their customers and producers. Servicing an expanding customer base cost effectively while positively impacting customer delivery and experience often times seem like irreconcilable goals. Working with a partner that has experience in all these areas gives insurers the confidence to rapidly respondtotheeverchangingmarketplace. Overview With proven expertise, TCS partners with insurance organizations worldwide to support their growth strategies and expansion plans. Our best-in-class services comply with geography-specific regulatory norms. Our Insurance Services span end-to-end processes in the property and casualty, life, annuity as well as pensions and health space. We leverage our synergies among business process, technology and consulting services resulting in an enhanced customer-centric environment. We provide platform based business services that enable current as well as Greenfield operations to accelerate penetration of new and existing customer bases. TCS provides an entire ecosystem of services that enable operations to be improved through Six Sigma process reengineering, on shore sourced from our global centers or completely outsourced. This flexible approach includes our service centers for front-office operations (call center, TPA), core business operations (new business, policy administration, claims), IT (workflow/imaging, shared services), our proprietary as well as industry platforms and infrastructure (network, telecom data centers). This enables our customers to focus only on the outcome rather than building out and maintaining an extensive operations and infrastructure that add costs and uncertainty. Experience Certainty Experience Leadership Up to 45% reduction in cost of operation through applications consolidation and migration to platform. Faster time-to-market leveraging synergies among platform, consulting, work flow and infrastructure services. Experience Partnership TM Our GNDM approach provides insurance firms with the necessary flexibility to operate across global locations. TM GNDM also offers business continuity in case of natural calamity/disaster. We service from over 15 international locations across 5 continents offering international language support. We also offer a choice of near-shore, onshore and offshore delivery options combined with a global workforce drawn from across 80 nationalities. Experience Results Up to 40% reduction in Claims cycle by removing NVA’s, Six sigma and other methodologies Up to 30% reduction in cycle time through automation of processes and work-flow changes. n n n n n
  2. 2. All content / information present here is the exclusive property of Tata Consultancy Services Limited (TCS). The content / information contained here is correct at the time of publishing. No material from here may be copied, modified, reproduced, republished, uploaded, transmitted, posted or distributed in any form without prior written permission from TCS. Unauthorized use of the content / information appearing here may violate copyright, trademarkandotherapplicablelaws,andcouldresultincriminalorcivilpenalties. Copyright©2013TataConsultancyServicesLimited IT Services Business Solutions Consulting TCSDesignServicesP0613III ClaimsProcessing NewBusiness&AgencyServices Underwriting&RiskAssessment PolicyAdministration LIFE & ANNUITY RETIREMENT PROPERTY & CASUALTY HEALTH PolicyAdministration ClaimsProcessing Underwriting&RiskAssessment NewBusiness&AgencyServices EnrolmentProcessing PlanManagement ContributionsProcessing RegulatoryReporting Pre-paymentProcess Provider/MemberEnrolment Claims/Adjudication Subrogation/FraudAnalysis Overview of TCS Insurance Services Offering The TCS Advantage Industry domain expertise We offer Insurance Services to some of the largest global and domestic insurers and have been offering business services for over a decade. We leverage upon our talent pool of ~6,200 associates handling over 150 insurance processes across 3 continents. We also have large pool of industry certified domain experts across areas including life, retirement services, healthcare and property and casualty. Business transformation: Platforms TCS BaNCS - our proprietary insurance platform - services over 4 million closed book policies as well as live books. It offers you a best-in-class web-based insurance product suite. It ensures efficient service delivery across all lines of business (property and casualty, individual and group life, reinsurance). This platform enables insurance organizations with greater operational control, increased user productivity, reliable technology support, continuous process improvements and enhanced speed-to- market. In addition, we run and operate many of the leading policy and claims administration products on behalf of our clients. Delivery excellence We have a demonstrable transition strategy based on an integrated 5D transition methodology. Our delivery excellence is supported by an organization-wide team of 500+ Six Sigma and LEAN certified professionals. We also have a robust operational risk management framework with real-time process tracking; this assists us and our clients greatly in maintaining controls over corporate as well as process risks. About TCS Business Process Services (BPS) Business Process Services (BPS) at TCS is about managing & executing business operations. Our domain expertise helps deliver core business processing across industries, analytics & insights and support processes such as accounting, HR and supply chain n n n Contact To know more about Insurance Services, contact AboutTataConsultancyServicesLtd(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 TM through its unique Global Network Delivery Model , recognized as the benchmark of excellence in software development. A part of the Tata Group, India’s largest industrial conglomerate, TCS has a global footprint and is listed on the National Stock Exchange and Bombay StockExchangeinIndia. Formoreinformation,visitusat management. TCS partners with customers to accelerate co-transformation, and generates business value for customers through delivery excellence, risk management and through innovative models such as Platform BPS which delivers process as a service. With annual BPO revenues of greater than US$ 1.4 billion, TCS is one of the largest BPS providers with 47,500+ employees servicing 225+ customers across the globe.