Tata Consultancy Services (TCS) has teamed up with Dhofar Insurance Company (DIC), the biggest insurance company in Oman. DIC will use TCS’s main product, TCS BaNCSTM for Insurance, to help it grow and transform.
Dhofar Insurance Company, which started in Oman in 1989, holds over 18% of the general insurance market in the area. With this partnership, TCS will support DIC in its journey to become more digital. They will create a modern insurance platform using the latest technology to enhance the customer experience and insurance for life, medical, general, and motor insurance.
TCS will also help DIC combine several existing products and make it easier to introduce new ones.
Sunil Kohli, the CEO of Dhofar Insurance Company, “To transform our company, we needed to upgrade our insurance platform and focus on new ideas, while also improving the overall customer experience in the Middle East insurance market. We chose TCS BaNCSTM for its wide range of functions and TCS’s proven success in changing insurance systems in the Middle East. We believe that TCS BaNCSTM will help us meet our business needs and provide excellent insurance services.”
R Vivekanand, President of BFSI Products & Platforms at TCS, said, “We are happy to work with Dhofar Insurance Company on updating their insurance system and expanding our presence in the region. We believe that with TCS BaNCS, Dhofar Insurance Company will improve productivity and enhance customer experience, leading to better business results.”
TCS has been in Oman for over 20 years, working with top companies in telecoms, securities, and major banks and financial institutions. Earlier this year, TCS opened its first office in Oman, showing its dedication to helping with digital changes and supporting the goals of Vision Oman 2040.
Sumanta Roy, President and Region Head of TCS MEA, stated, “Partnering with Dhofar Insurance Company is an important step for us in driving digital change in the Middle East. Oman is on an exciting path of innovation and economic change. For the last 20 years, we have been working with leading companies in Oman, using our global knowledge in AI, cloud, and other digital solutions. We look forward to collaborating with Dhofar Insurance Company to create an advanced insurance platform that matches Oman’s future goals.”
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