Solidarity Bahrain launches new core insurance system

Solidarity’s digital transformation strategy and has been implemented in a record time frame of eight months

  

MANAMA: Solidarity Bahrain, one of the largest insurance companies in Bahrain and a subsidiary of Solidarity Group Holding, has successfully launched its new core insurance system TCS BaNCS.

It is envisaged to be the foundation of Solidarity’s digital transformation strategy and has been implemented in a record time frame of eight months, said Solidarity in a statement yesterday.

Solidarity Group chief executive Ashraf Bseisu said: “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 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,” he added.

Solidarity Bahrain CEO Jawad Mohamed said: “As part of our ongoing journey of digital transformation and customer experience enhancement, we are thrilled to have achieved this milestone in a relatively short time. This will bring a higher level of innovation and enable delivery of improved customer-centric experience that creates value by meeting the market demands.

“We are committed to continuing investment in Insurtech and determined to remain at the forefront of the digital insurance landscape in the region.”

TCS BaNCS is a complete core insurance solution suite which includes all of Solidarity’s products and services, from policy underwriting and issuance to claims servicing and accounting. This system brings higher availability, robust stability and high level of security.

Solidarity’s customers are now able to access and perform myriad insurance services online through a revamped online portal and mobile app. In addition, Solidarity has digitised critical transactions, reduced process complexity and will aim for a new scale of customer service personalisation.

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