SNIC Insurance selects TCS for digital transformation project

Tata Consultancy Services has announced that Bahrain-based SNIC Insurance which was formerly known as Saudi National Insurance Company has selected ‘TCS BaNCS for Insurance’ to support its ambitious digital transformation strategy.

Through this software solution SNIC will be able to harmonize several existing product lines and launch new products more faster. The company will get competitive advantage in General and Medical Insurance, Financial and Business Intelligence. SNIC has plans to replace the existing core Policy Administration System (PAS) with a new solution that can not only support existing operations but is also scalable for future expansion.

Founded in 1974, SNIC Insurance protects individuals and businesses with quality insurance coverage and strong commitment to service. The company was licensed by Central Bank of Bahrain as Bahraini registered company in 2006.

TCS BaNCS is the brand name under which TCS Financial Solutions has compiled a comprehensive product portfolio. TCS Financial Solutions is the strategic business unit of Tata Consultancy Services.

The stock of TCS was up by 1.14 per cent from previous close of Rs. 1.974.55 per share and has made intraday high of Rs. 1,997.05 on Friday.