Solidarity Acquires New Core Insurance System for its Digital Transformation
Solidarity Bahrain B.S.C, one of the largest insurance companies in Bahrain and a subsidiary of Solidarity Group Holding, has signed an agreement with Tata Consultancy Services (TCS), a leading IT services, consulting, and business solutions to deploy TCS BaNCS core insurance system as its core platform for digital transformation. The signing ceremony took place at Solidarity offices and was attended by senior executives from both parties.
In a statement Mr. Ashraf Bseisu, Solidarity Group Chief Executive said: “The new core system will enhance our insurance services and will allow us to provide more distinctive and versatile solutions that meet market demands”. He added, “We aim at revolutionizing the insurance industry by service innovation and customer focused approach”. He continued, “Our partnership with TCS stems from our firm believe that both organizations are aligned in their passion to rethink the concept insurance for a digitally enabled world”.
For his part Mr. Jawad Mohamed, CEO of Solidarity Bahrain said: “We have built strong reputation in the industry in the past decades”. He added “We have found an emerging need for technologically capable insurance services to address our customers’ needs”. He concluded, “Our partnership with TCS is geared towards propelling Solidarity in its quest for leading the insurance industry’s innovative digital transformation and adoption of Fintech and Insurtech”.
TCS BaNCS’ comprehensive and integrated capabilities will help Solidarity Bahrain differentiate itself in a Business 4.0™ world and achieve its growth and transformation objectives,” said Venkateshwaran Srinivasan, Vice President and Head, TCS Financial Solutions. “Our partnership with Solidarity Bahrain provides a further fillip to our strong presence in the Middle East. We are committed to the success of this mission critical program.”