TCS bags deal from S Africa's Nedgroup Insurance

NEW DELHI: Country's largest software exporter Tata Consultancy Services ( TCS) said it has bagged a contract from South Africa's Nedgroup Insurance Company (NIC) for deploying its financial services platform.

No financial details of the contract were divulged. TCS BaNCS Insurance, part of the company's financial services platform, will serve as the new policy administration system for Nedgroup short-term insurance services, TCS said in a statement.

"We are delighted to partner with NIC on this core system transformation programme... This reinforces our commitment to the African region," TCS Financial Solutions President N Ganapathy Subramaniam said.

NIC is a short-term insurer specialising in homeowner's cover, personal accident and vehicle-related, value-added insurance products.

NIC is the first insurance customer for TCS in Africa, though the company is already serving banks in the region, the statement said.

"TCS BaNCS was selected for its superior IT strategy and vision, both in South Africa and internationally," NIC Managing Director Anees Vazeer said.