Solidarity Bahrain, one of Bahrain’s largest insurance service providers and a subsidiary of Solidarity Group Holding, has reportedly launched its newly developed core insurance system, TCS BaNCS.
The TCS BaNCS insurance platform is part of the foundation of Solidarity’s digital transformation plan and has been implemented in only eight months.
Solidarity Group CEO Ashraf Bseisu stated:
“We are proud that this project was executed successfully on time, being made possible by the relentless effort and continued collaboration between Solidarity Bahrain and Tata Consultancy Services teams.”
“It demanded a high level of leadership, industry acumen and effective project management skills which were brought to bear by all project stakeholders. The new core insurance system will enable Solidarity to innovate through add-on Insurtech initiatives enhancing the overall customer experience.”
Jawad Mohamed, CEO at Solidarity Bahrain, remarked:
“As part of our ongoing journey of digital transformation and customer experience enhancement, we are [pleased] to have achieved this milestone in a relatively short time. This will bring a higher level of innovation and enable the delivery of improved customer-centric experience that creates value by meeting the market demands.”
Mohamed also mentioned that his company remains committed to investing in various other insurance technology (Insurtech) projects, while being at the forefront of the digital insurance industry in the Middle East region.
TCS BaNCS offers a comprehensive core insurance platform and software suite which includes all of Solidarity’s products and services, such as policy underwriting and issuance, claims servicing and accounting. The platform brings greater availability, stability and security.
Solidarity’s clients can access several different types insurance services online via an updated internet-based portal and mobile app. Solidarity has also digitized critical transactions, reduced the complexity of business processes and intends to offer a new scale of client service personalization.