B3i Services AG, a global industry-led blockchain initiative has announced a partnership with Tata Consultancy Services (TCS) to launch Blockchain solutions for the Insurance Industry.
The initiative aims “to accelerate the digitization of insurance for faster and more efficient delivery of tailored solutions”, noted the B3i press release.
This partnership leverages TCS’ innovation capabilities and B3i’s industry-leading production DLT platform
Partners and customers will be able to leverage the B3i Fluidity® platform by reusing common components and services. This could also ensure interoperability with other apps in the B3i ecosystem.
“TCS and B3i can leverage our complementary capabilities to shape the future of the insurance industry,” noted a TCS executive.
B3i Services AG, an industry initiative is 100% owned by 20 insurance market participants around the world including Allianz, AXA among others. Altogether, more than 40 companies are involved in B3i as shareholders, customers, and community members.
“By working together with trusted partners, the insurance industry can solve longstanding problems that individual insurers and brokers can’t solve alone, noted John Carolin, CEO, B3i.
TCS on a roll
Australian neobank Volt recently announced a partnership with the India-based IT giant to expand payment offerings leveraging its TCS BaNCS™, a global payments solution.
Set to launch in 2021, Volt 2.0 will offer new generation capabilities including NPP, BPAY and DE.
“Volt’s unique platform technology places it at the forefront of Australian banks, and positions us well for incredible growth into the future,” said Steve Weston, Founder and CEO, Volt.
Australian energy major AGL is on a transformation program working with TCS. The initiative “aims to modernise and migrate apps to the Cloud enabling AGL’s growth strategy towards becoming a digital utility of the future”.
“We have made good progress and continue to build momentum in our Cloud Transformation Program.
“Once we complete this program, AGL will be very well placed to deliver superior customer experiences and drive growth,” said Owen Rapose, Head of Cloud Technology, AGL.
