Insurance
White Paper
Re-Imagining Insurance
in the Connected Era of Internet-of-Things
About the Authors
Suresh Bhaskaramurthy,
Senior Business Consultant
Suresh Bhaskaramurthy brings rich experience from the Insurance and IT Services
industries. He currently leads the global research and innovation initiatives at TCS'
Insurance and Healthcare Innovation Lab. He specializes in developing and managing
next generation solutions in Insurance, involving the latest and niche technologies. He is
a Bachelor of Commerce from the University of Madras and a Fellow Member of the
Insurance Institute of India (FIII). He is an Associate Member of the Institute of Cost
Accountants of India (ACMA).
Praveen Kumar Talagadadeevi,
Business Architect
Praveen Kumar Talagadadeevi specializes in Property and Casualty Insurance, including
next generation applications relevant to its niche areas. He has been instrumental in
conceptualizing new ideas and developing leading-edge functional designs for various
Innovative P&C solutions in TCS' Insurance and Healthcare Innovation Lab. He holds a
Bachelors' Degree in Electrical and Electronics Engineering and is an Associate in
Personal and General Insurance (API, AINS) from The Institutes, AICPCU.
Srivathsan Karanai Margan,
Business Consultant
Srivathsan Karanai Margan, brings extensive experience in the insurance and IT industry.
He has hands-on experience on end-to-end insurance processes and has led various IT
initiatives for Life & Pension insurers. He is currently involved in identifying and creating
next generation solutions with TCS' Insurance and Healthcare Innovation Lab. He is a
Bachelor of Mathematics from the University of Madras, a certified Fellow of the
Insurance Institute of India (FIII) and an Associate, Annuity Products and Administration
(AAPA) from Life of Management Association (LOMA).
About the Authors
Niranjan Vallur Nagarajan,
Research Consultant
Niranjan Vallur Nagarajan is a domain research expert in Property and Casualty
Insurance. He was actively involved in executing key transformational projects across
Actuarial, Underwriting and Policy Administration for various North American insurers.
He currently focuses on disruptive innovation research and strategizing new age
business design for futuristic solutions in Insurance and Healthcare. He holds a
Bachelors' Degree in Computer Science and Engineering, and an MBA in International
Business (Finance).
Abstract
The rise of the Internet of Things (IoT) and the fast adoption of smart devices worldwide is
making 'connectedness' a fundamental aspect of consumers' lives. The resulting disruption is
forcing businesses to redefine and reimagine how they can interact with and benefit from the
new connected consumer, at their homes, with their health, and while they commute.
Homes are becoming smarter with connected sensors and automation, opening up
possibilities for remote monitoring and loss control. Smart devices that can be worn,
implanted or consumed, allow the tracking of physical movements and vital body signals,
creating a new wave in the space of remote healthcare. Sensor devices can track driving
behavior, diagnose vehicle status and monitor unsafe conditions during commute, to
produce alerts, real-time feedback and promote accurate risk assessment. These disruptions
are creating massive reverberations in their respective core and affiliated domains.
The Insurance industry focuses on mitigating claims related losses with high concern, and the
phenomenon of connectedness brings significant opportunities in risk assessment and
prevention. This paper evaluates how connectedness will enable and challenge insurers with
a more proactive and individualized view of risk. It also crystal-gazes at some of the imminent
business model and regulatory changes that the insurance industry may face.
Contents
IoT and the Insurance Ecosystem
6
Insurance of the Future
7
Smart Residences and Proactive Loss Mitigation
8
The Evolving Connected Healthcare
10
Shifting Gears to Connected Commuting
11
Foreseeing a Paradigm Shift in Insurance
13
Crumbling Cross Leverage
13
Usage and Behavior Based Insurance
13
Personalized Cost of Cover
14
Preferential Insurance
14
Collaborative Impact
14
Challenges in Connectedness
15
Ensuring Data Privacy and Security
15
Managing Connected Errors
15
Insurance in the Connected Ecosystem - Beyond Horizon Scanning
16
IoT and the Insurance Ecosystem
The connectedness enabled by the IoT across home, health and commute forms the building blocks of today’s
‘connected-life’. In the Insurance industry, this connected ecosystem offers an opportunity to enhance process
optimization, consumer engagement and preventive care.
IoT enables automation and efficiency in the
processes by reducing manual involvement,
improves consumer engagement by providing
personalized insights resulting in loyalty and
retention, and more importantly offers proactive
intervention for preventive care thereby
achieving reduced claim related losses.
Improve
Efficiency
Process
Optimization
Consumer
Engagement
We see IoT evolving from Horizon-I, comprising
sensor-based devices that detect anomalies
Improve
Preventive Care
which could result in an unsafe condition, into a
Loyalty
Horizon-II ecosystem of preventive care that will
automatically trigger actions much before a
Reduce
Losses
perilous event occurs using predictive
intelligence and mitigating risks through
Figure 1: Connectedness and the Insurance Ecosystem
proactive intervention. It can further transcend
into Horizon-III, which will be a connected
environment where multiple and disparate connected devices gather real time data deriving meaningful insights,
and taking automatic, tangible and collaborated preventive actions.
Sense
Anomalies
Policy
holder’s
manual
intervention
to reduce
consequences
Send
Mitigation
Alerts
Horizon-I :
Event Based Risk Alerts
Predict
anomalies
based on
current and
historical
data patterns
Trigger
automatic
corrective
actions
Horizon-II :
Proactive Mitigation
Interconnectedness
with external connected
ecosystems to identify
and mitigate tacit risks.
Horizon III:
Interconnected Universe
Figure 2: Evolution of Connectedness
6
Over time, the evolution of technology and mass adoption of smart devices will trigger a data deluge. With the
requisite big data analytics capabilities, insurers can analyze current and historical data, identify relevant patterns,
and derive predictive insights necessary for enhanced preventive care or risk control. These insights will form the
basic building blocks of smart devices -driven decision making, which is crucial for providing preventive care.
Insurance of the Future
A connected ecosystem offers policyholders and insurers the opportunity for early identification of potentially risky
events associated with home, health or commute, and the ability to mitigate them much before they manifest. It
also enables insurers to redefine product development, sales and distribution, underwriting, servicing and claims,
delivering the following enhancements:
Reimagine Product Features: Insurers can move beyond the conventional practice of post loss indemnification,
and design products that factor in the possibility of proactive loss prevention. Smart device data will enable
Insurers to make personalized product recommendations to their customers based on individualized risk profiles.
Leverage Additional Touch Points: Insurers will be able to tap into the data collected from new interaction touch
points such as smartphones, connected TV, wearables and other smart devices to connect as well as improve sales
conversion.
Harness Real-time Risk Data: By drawing upon real-time connected data, underwriters can accurately match the
customer's risk exposure to an appropriate premium. This will allow insurers to move away from conventional risk
assessment that was driven by historical loss characteristics of the entire rating class, to adopt a personalized risk
based pricing model, where premium revisions are based on loss/risk conditions of the policyholder measured
during the policy period.
Transform claims handling: Real-time connected data can help insurers to proactively respond to fortuitous
claims. Insurers can identify the cause of loss to process and settle a claim before the loss is notified by the
policyholder. This reduces the degree of physical verification by claims specialists, helps establish the coverage
applicability, and reduces the risk of fraudulent claims.
Consumerization and Digital Enablement: Products and services offered will be customized and tailor-made to
individual customer needs. The digital enablement of these offerings will redefine customer engagement by giving
an omni-channel experience. These facilitators will power the industry to break the convention of merely providing
protection against loss and move towards proactive prevention of risk to match the ever dynamic expectations of
the customers. To stay relevant and competitive in the new ecosystem, insurers must transform themselves from
being just service providers into holistic care providers.
Customer's world: In the personalized world of the customer, insurers will focus not only on selling insurance but
also becoming a constant and inseparable companion alongside the customer in their life journey. The pervasive
engagement by the insurers will inconspicuously touch every facet of customer's life thereby creating a sense of
trust, belonging and emotional bond which will result in effortless and natural fruition of insurance product sales.
7
Real-time
interconnectedness
Omni-channel
Risk mitigation
Maintenance and Repair
sensors
protection
smart TV
Home improvement
Listening Appliances
Sentroller
Seamless Experience
utility consumption
independent living
Health
Social collaboration
lifestyle choices
long
term value
Education
transactions
pregnancy and child care
elderly care
Financial future
vacation
retirement planning Virtual
hobbies
wellness
Active aging
Smart device
Stress
Activity Tracking
Emergency response
Quantified Self
Fitness Tracking
Privacy
Personalization
long term care
Privacy
Remote care
networking
Digital Friend
Profile identity
Traffic management
Connected commute
Purchases
Vehicle diagnostics
safety
Rewards
fuel
travel
Convenience
telematics
infotainment
embedded technology
Figure 3: Customer's World
The following sections examine three spheres of connectedness - policyholders' homes, health and automobiles –
which are at various levels of maturity and the potential impact of each on insurers.
Smart Residences and Proactive Loss Mitigation
A connected home or smart residence can provide real-time risk information, which will alert and educate
homeowners and policyholders to adopt necessary risk management initiatives to assess and reduce potential loss
events from various in-home perils.
Perilous events such as water damage, theft, fire, explosion and mold account for the largest share of in-home
losses and homeowner's claims. These can be controlled and mitigated by connected sensors that measure
operating conditions like humidity, occupancy, temperature, and smoke. To realize these possibilities, property
insurers are partnering with machine-to-machine (M2M) vendors and data providers who have the capability to
directly alert policyholders on imminent risks.
Instead of relying on conventional attributes such as previous claims history for underwriting, insurers will leverage
connected data on the conditions within the property to accurately predict the loss making characteristics of their
clients and prospects.
The data recorded by the smart devices and sensors can also help insurers to assess the behavioral and morale
hazard associated with policyholders. Insurers can compare the conditions of the property before and after a
proactive risk alert to assess the degree of care and actions taken by the policyholder. This behavioral aspect will be
considered along with the measured operating conditions of the property to provide policyholders with 'condition
based discounts' on property insurance premiums.
8
Proactive
Event Alerts
(water damage,
theft, fire,
mold, etc.)
Behavioral
& Morale Risk
analysis for
underwriting
Personalized
Homeowners/
Dwelling
Products,
Coverages and
Pricing.
Proactive
Repair services
for real and
personal
property
Seamless
Proximate cause
analysis for
claim investigation
and processing
Figure 4: Opportunities in Insurance from Smart Residence
9
Insurers will evolve to allocate a certain portion of premiums for providing preventive repair and maintenance
services instead of post loss claim settlement. This will drive the creation of new products and services specific to
proactive care in contrast to traditional products, which focus on post loss claims settlement.
In spite of all mitigation efforts, there could be claims triggered by natural events for which the data recorded by
smart devices during the loss event will help. The claim adjusters can assess the degree and impact of property
damage, process claims with reduced physical investigation, and improve the policyholder's overall claims
settlement experience.
The Evolving Connected Healthcare
With global increase in longevity, incurrence of chronic ailments and lifestyle diseases, the traditional healthcare
service model is fast proving insufficient. As the need for effective healthcare services reaches a tipping point,
growth in supporting technologies to provide remote care, assistance and treatment becomes essential. This, in
turn, is driving the accelerated acceptance of connectedness in the healthcare industry.
Wellness
Care
Critical
Care
Health Info
Exchange
Emergency
Services
At Risk
Care
Remote
Monitoring
& Care
Insurers &
Social Care
Figure 5. Evolving Connected Healthcare
10
Until recently, technological innovations in the healthcare segment focused on providers, physicians and the
supporting players. The advent of smartphones driven health applications, the growth of wearable technology,
evolving capabilities of sensor devices, and advancements in machine-to-machine (M2M) communications have
shifted the focus of healthcare toward end-customers.
Connected health is currently implemented in the wellness care segment, where healthy and active people are
monitored for their daily activities and well-being. Some of the devices measure the current vital signs, and do a
comparative analysis against past measurements. Healthcare providers are gradually exploring the concept in the
patient care or un-wellness segment as well. Specialized sensor devices that are either worn by or implanted into
the patient, monitor the health condition of the patient 24x7, identify the rate of recovery and help provide remote
critical care. These devices constantly monitor the vital parameters, and trigger an alert to medical practitioners and
emergency care services when they observe an outlier.
In the unfolding healthcare system, institutions and professionals will become collective stakeholders.
Advancements in information and communication technology in healthcare will result in seamless real-time
integration of the processes involved across all stakeholders. New expert systems will enhance the capability to
make discerning decisions, and effectively support un-wellness monitoring and treatment.
Driven by connected health, complex service models in healthcare like seamless care, shared care, collaborative
care and home hospitals that are patient-centric are likely to emerge. Medical information exchanges may become
the single source of information on patient health. Connected devices are likely to own a few activities in patient
care that have been traditionally people dependent.
The volume of real-time health data, in addition to other associated dimensions, will redefine the basic tenets and
operating models of healthcare insurance. Insurance companies are currently enticing customers with discounts,
for embracing wearable devices to self-regulate their lifestyle habits. Proactively monitoring the health of patients
will prevent inflated claims pay-outs. In addition, new patient profiling methods and segments will evolve. Insurers
will use the actual behavior modeling and analytics to arrive at the appropriate risk- based premium. Special
insurance products may be developed to effectively cater to the unwell population, who are often treated unfairly
as per the existing guidelines.
Shifting Gears to Connected Commuting
The connected auto paradigm is comparatively more mature in terms of technological evolution, insurance
adoption and prominence. Many companies have started to invest heavily in vehicle performance and driving
behavior analytics to make sense of vehicle and driver data. Two related stakeholders, auto manufacturers and
insurance firms, need these data for differentiated product experience and risk segmentation respectively.
11
Automated
incident
reconstruction and
claim processing
V2V
communication
to reduce
the claim
frequency
Sensor
driven vehicle
diagnostics
for proactive
maintenance
and repair
Live weather
traffic and
event data
for safer
commutes.
Realtime
driving
analysis and
feedback
Personlized
coverages
and pricing
based on
driving
profile
Figure 6. Opportunities in Insurance from Connected Commuting
Advanced driver assistance systems like adaptive cruise control, intelligent speed detection, lane change assistance,
and collision warning are gaining traction, and will soon find their way into mainstream usage. In the event of an
accident, the vehicle can immediately send out real-time information including time and location to provide timely
assistance and save lives.
Insurance carriers have embraced telematics to design discounts on premiums based on accurate insights gathered
on drivers. Telematics enables insurers to manage customer risk on a continuous basis. Usage based insurance (UBI)
devices connected to the vehicle dashboard, or mobile-based telematics apps are utilized to monitor driving
behaviors. Data including sudden acceleration, hard braking, over speeding, frequent lane changes, cornering,
miles driven, time of drive, and travel routes help make robust inferences on how safe one drives. The biggest
advantage is that this can be done remotely and in real time.
12
Big Data platforms help collate the voluminous driving statistics, compare the data with that of benchmark drivers,
and assess the risk profile of drivers on an ongoing basis. Analytics help in providing real-time risk alerts, tips and
recommendations to improve the driving behavior. This presents an opportunity to categorize risk segments alter
the premium rates, and reduce loss exposures. Actuaries are breaking away from traditional modeling which used
limited information available on location, credit scores, demography and so on, to create risk models that are closer
to reality. These models help in offering customized insurance products and services, and giving critical importance
to policyholders' safety, which eventually lowers claim-related costs.
In the near future, automated cars or driverless cars will further change the insurance ecosystem by reducing the
human involvement in a risk event. The vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) connected
technologies will minimize traffic congestion, alert drivers in real time, and reduce accidents. This will bring down
premiums on a broad scale. Though safer driving conditions diminish the need for an insurance cover that focusses
on the driver, other perils such as theft, vandalism or hail damage will remain relevant.
Foreseeing a Paradigm Shift in Insurance
We have seen how IoT and increasing connectedness is expected to bring about a transformation in the insurance
business. The following sections explore in detail the expected shifts in risk categorization and selection, customer
engagement and policy servicing.
Crumbling Cross Leverage
In addition to risk pooling, insurers have traditionally enjoyed the comforts of cross leveraging to balance the
excess risk from one customer segment with low risk from another. With personalization technologies, crossleveraging of risk is disintegrating and paving the way for individualized risk assessment.
For example, in auto insurance, with the adoption of usage based insurance, cross-subsidizing the loss from a bad
driver with profits generated by a good driver may not remain to be a possibility.
Usage and Behavior Based Insurance
Usage and Behavior Based Insurance will change how the risk is assessed and priced for a specific customer. It will
drive value across the entire ecosystem by providing differentiated customer experience, superior risk
segmentation and reduced loss leakages. Using the connected data insurers will design customer targeted flexible
products and offer risk covers additions and changes based on the behavioral pattern.
For instance, insurers analyze and assess the personalized risk of a driver based on connected data, and calculate
the premium based on usage and driving behavior patterns. In health and life insurance, the wearables and
implants will provide insights on the customer activities and health parameter levels with which insurers can offer
premium discounts as well as specific risk covers. and riders.
13
Personalized Cost of Cover
As connectedness becomes the new normal due to the proactive risk prevention and at-risk care methods adopted,
the risk experience of insurance companies will charter a new path. As the transition happens, it will be a challenge
for insurers to dynamically model the risk. To estimate the cost of coverage for the new risk experience, insurers
may need to extrapolate the empirical risk data until the new and actual experience becomes predictable.
Technology advancements enable insurers to procure real-time data and calibrate the experience against
estimation to revise their risk models. This will help the insurers to charge near accurate rates for risk and the
customers will pay behavior-factored personalized premium.
Preferential Insurance
The presence of connected smart things across the spectrum will bring in personalization and transparency to risk
assessment. While insurers can predict the risk exposure in connected automobiles and homes, they need to tread
carefully in predicting the predisposition of a health problem in life and health insurance due to privacy and
regulatory restrictions.
Evaluating and predicting risk could mean different things to insurers and individuals:
n
Insurers profile individuals based on futuristic risk estimation with reasonable accuracy and target only
profitable customers, ignoring the sub-standard risk classes
n
Due to transparency brought in by connectedness, individuals foresee the risks they are actually susceptible to,
and insure themselves for those unbundled risk components leading to adverse selection.
Preferential selection of this nature is likely to disrupt the fundamentals of insurance. A revised legal framework for
risk assessment will be required to prevent excessive risk profiling, ensuring that the interests of both policy holders
and insurers are protected.
Collaborative Impact
Connected life creates a unique and unexplored collaborative impact for insurance companies. Traditionally,
insurers evaluate the risk of a specific subject (human being/home/auto) for a specific line of business on a
standalone basis. The level of risk of one line of business does not have any impact on the other.
For example, the peril evaluation of a home is done based on the type of the home, security aspects, geographical
location, and other factors within the home. The mortality risk of a person living in that house is assessed based on
factors such as his/her age, health and so on. The risk level of the home is not factored while calculating the life risk
of the person. The condition of the home might be poor, or the conditions maintained within the home might
impact the health of the person, and longevity.
There is no way this could be studied or calibrated in the current scenario, but connectedness changes this. The
collaborative impact of one condition or risk on the other can be identified, tracked, monitored, controlled and
calculated. This will open up immense possibilities while calculating a specific risk.
14
Challenges in Connectedness
To transform their business to leverage connectedness, insurers must ensure that the following needs are met in
terms of protection of data, and issues dealing with errors and device failures.
Ensuring Data Privacy and Security
As the IoT gets personal, insurers need to have access to all information on customers, to calibrate and arrive at the
personalized cover and cost. However, privacy and security of the data will be critical for customers to agree to
share data to receive some benefits from the insurer.
Internet-based connectedness offered by smart devices across connected homes, auto and health increases the
potential of a cyber attack. A cyber attack in a connected ecosystem can inflict property damage and physical injury
to the consumer, which outweighs the benefits provided in terms of risk prevention. Policyholders may seek
enhanced personal cyber attack protection or coverage along the lines of what has been conventionally limited to
commercial entities.
Considering the high level of customer sensitivity regarding health and home data, the customer identification and
data protection regulations need to evolve to assuage the concerns of insurers and customers. Insurance
regulators need to astutely observe the dynamics in the new ecosystem, and regulate the adoption and usage of
connected insurance products.
Managing Connected Errors
If a connected device is in disrepair, it may trigger an erroneous alert or action. This may cause simple to extreme
damage to a property or an individual's health. It may not be possible to identify and fix the responsibility on the
erroneous stakeholder. Crises like these have the potential to wreak havoc in the connected ecosystem.
For instance, in connected health, a sensor might wrongly read and interpret a patient's physical condition, and
trigger the actuator to administer a medicine which results in an undesired response. Events like these can
affect the credibility of connected things, and lead to irreparable damage to healthcare stakeholders including
insurance providers.
In a connected ecosystem that is sensor driven, the responsibility of mitigation and control of losses will shift from
policyholders to sensors and connected devices. Subrogation, which is an essential part of insurance loss recovery,
will see a dramatic change with increased adoption of connected homes and automobiles in insurance. However, if
there is a sensor or a smart device malfunction during the occurrence of a loss event, there may be challenges in
identifying and fixing the comparative negligence and liability proportion on the associated stakeholders. For
example, a sensor might fail to alert, a smart device may fail to take corrective action, and there could be a fault in
the response by the service provider or the policyholder. Singularly or collectively, these may result in the failure to
mitigate or reduce an identified loss event. This will pose additional challenges for the insurers to identify the
degree of fault and establish recovery from multiple parties, which might be responsible for the loss.
15
Insurance in the Connected Ecosystem - Beyond
Horizon Scanning
With the rapid pace of technological evolution and the eventual interconnectedness of all ecosystems, scenarios
such as connected home, integrated health and smarter transportation becoming mere subspaces within the larger
connected ecosystem will soon be a reality. The larger futuristic IoT ecosystem will comprise multiple stakeholders,
diverse devices, networks, platforms and various service providers. The hyper-connected ecosystem will evolve and
tread towards creating a digital strategy for the enterprises, driving businesses to blur the divide between the
physical and digital worlds by providing an omni-experience to their customers. Insurers will be able to identify
risks in a superior manner, underwrite precisely and continuously, offer omni-channel personalized assistance and
influence customer behavior.
Partner Stakeholders will collaborate to
create a larger ecosystem creating a hyperconnected network
Strong and rewarding relationship with the
Consumers (policyholders) bringing next
generation customer experience
Telecommunication and
Network Providers
Connected Home
Centralized Hub, Sensors, Actuators,
Interconnected appliances
Smart Transportation
Telematics, Smart Navigation and
Assistance, Infotainment
OEM and Sensor Manufacturers
Healthcare Services
Partner
Stakeholders
Consumer
Integrated Healthcare
Wellness and Fitness Wearables, At-Risk Care,
Heath info exchanges
Repair and Maintenance providers
Car Manufacturers
Traffic/energy control systems
Ecosystem
Create Omni-channel Customer
Experience
Big data Analytics
Plug and Play, m2m Connectivity Integrators
Remote Sensor Monitoring Interfaces
Cloud Hosted Services
Integrated Value Chain
Technology
Providers
Continuous and Precise Underwriting
Insurers
Superior Risk Segmentation
Data Sharing and Portability
Interfaces
Customer engagement
Social Engagement channels and interfaces
Data Security and Encryption
IT Solution/platform Providers & Aggregators can
create end-to-end capabilities for business and
provide enablers to drive their digital strategy
Automatic software
/firmware upgrades
Personalized Assistance
Proactive Loss Mitigation and Claims
Settlements
Insurers with more contextual data on customers can
segment risk more appropriately, reach out through
various touch points providing personalized assistance
and create an Omni-channel experience
Figure 7. Hyper-connected Ecosystem
The connected ecosystem will shift the paradigm in the way consumers interact with everything around them. It
offers the possibility of harnessing powerful and smarter insights for better decision making across all aspects of
business. Insurers with more contextual data on customers will have to rethink how they define new risks, create
new products, and develop new operating models and market-driven strategies.
To leverage the benefits of connectedness, insurers need to ensure that they have the ability to retrieve data from
smart things, the architecture to hold the enormous influx of diverse data, and an analytics platform that can
provide intelligence to make insightful decisions. Insurers have to invest in partnerships with multiple stakeholders
16
in the connected ecosystem to facilitate proactive loss control. They may have to collaborate with sensor and
machine-to-machine (M2M) providers, and third party service providers who serve as an information exchange, or
as service providers for care, maintenance and cure. They also need to partner with IT vendors who can provide
support in building an effective architecture and platform to capture, transmit and analyze the connected data.
Insurance as a core business will evolve in the new de-commoditized environment by creating its own ecosystem
and insurers will take additional roles, by becoming aggregators or service integrators themselves and crosspollinating with other industry verticals.
The eventual disruption by IoT and the associated gadgetry will lead to insurers adopting hybrid cloud-based
systems, improvising customer engagement channels and social interfaces, building truly customer-centric
business models, and reimagining their digital strategy on the whole.
17
About TCS' Insurance Business Unit
With over four decades of experience in working with insurers globally, TCS delivers solutions and
services to help insurers meet rising customer and agent expectations, address non-traditional
competitors, manage low investment yields, and drive growth in emerging global markets.
TCS has built an unmatched track record in enabling insurers transform, enhance business agility,
improve operational efficiencies and increase customer engagement, while ensuring regulatory
compliance. 7of the 10 world's largest insurers and over a hundred insurers globally partner with TCS.
Our state-of-the-art innovation labs and global solution centers, and cutting edge solutions and
technologies set clients apart from their competitors. We leverage the combined expertise of our
industry trained and certified (LOMA, LIMRA, CPCU and so on) consultants to support the entire
value chain for Life, Annuities and Pensions, Property and Casualty, Health, Commercial and
Reinsurance companies.
Contact
For more information about TCS' Insurance Business Unit, visit: www.tcs.com/insurance
Email: [email protected]
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