Tata Consultancy Services (TCS) informed the exchanges that it has partnered with Dhofar Insurance Company, Oman’s largest general insurer, to modernise its core insurance platform. TCS will deploy its flagship product, TCS BaNCS™ for Insurance, to support the company’s digital transformation and long-term growth strategy.
Dhofar Insurance, which holds over 18% market share in Oman’s general insurance sector, will use TCS BaNCS™ to unify operations across life, medical, general, and motor insurance lines. The platform will improve customer and advisor experiences while enabling faster rollout of new products.
The deal expands TCS’s 20-year footprint in Oman, where it works with major players in telecom, banking, and financial services. The company recently opened its first office in Muscat to support Oman Vision 2040.
Sumanta Roy, President and Region Head, TCS MEA, said, “Partnering with Dhofar Insurance Company marks a key milestone in our mission to drive innovation in the Middle East. We are proud to support Oman’s journey toward a digitally empowered future.”
TCS BaNCS™ is a comprehensive insurance suite used by over 75 institutions worldwide. It supports policy administration, claims, accounting, reinsurance, and digital tools tailored to insurers’ needs.
R Vivekanand, President of BFSI Products & Platforms at TCS, commented, “We are excited to enable Dhofar Insurance to achieve new benchmarks in productivity and service delivery. This collaboration is another step in our commitment to transforming the regional insurance landscape.”
On May 12, 2025, Tata Consultancy Services’ share price (NSE: TCS) opened at ₹3,505, higher than its previous close at ₹3,440.30. At 4.00 PM, the share price of TCS was trading at ₹3,626.50, up by 5.41% on the NSE.
Also Read: TCS Launches AI-Powered MasterCraft to Support Legacy System Modernisation.
This partnership positions Dhofar Insurance for digital growth and reinforces TCS’s role as a transformation partner for insurers across the Middle East.
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Published on: May 12, 2025, 5:14 PM IST
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