The Hindu Business Line : TCS completes Phase I of Islamic insurance tool project

TATA Consultancy Services Malaysia, a wholly owned subsidiary of TCS, on Monday announced completion of the first phase of design & development for the $2.3-million IT project to develop a comprehensive Islamic insurance solution, called Takaful Integrated System, for Syarikat Takaful Malaysia Berhad (Takaful Malaysia).

Takaful Malaysia and TCS would work together to bring the system to Takaful Malaysia's subsidiaries branches and associates in South Asia and the Middle East, as well as other Takaful operators in the Islamic insurance business, a TCS statement said here.

The system is expected to be fully operational by mid-2005.

The Takaful Integrated System would be built on a highly portable J2EE (Java 2 Platform, Enterprise Edition) architecture and would automate Takaful Malaysia's business processes such as policy administration and claims processing.

The reduction of paperwork and streamlining of business processes would free Takaful Malaysia's 1,500 employees to enhance service levels to individual and corporate customers through various delivery channels, such as automated teller machines, the Internet, integrated voice response systems and SMS.

Tata Consultancy Services Malaysia Sdn. Bhd., a MSC (Mutimedia Super Corridor) status company, would oversee the planning, implementation, testing and end-user training, while TCS' offshore centres in India will manage the capacity planning, design, development and data migration for this project.