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TCS Completes First Phase of World's First Takaful Integrated
System
Web-based, enterprise-wide system will support Takaful
Malaysia's multi-channel service offerings for growing client
base of individual and corporate customers in the region
Tata Consultancy Services Malaysia Sdn. Bhd, a wholly owned
subsidiary of Tata Consultancy Services (TCS), announced today
the completion of the first phase of Design & Development for
the RM $8.7 million (US $2.3 million) IT project to build and
develop a comprehensive Islamic insurance solution called
Takaful Integrated System for Syarikat Takaful Malaysia Berhad (Takaful
Malaysia).
Takaful Malaysia and TCS will work together to bring the system
to Takaful Malaysia's subsidiaries branches and associates in
South Asia and Middle East, as well as other takaful operators
in the Islamic insurance business. The system is expected to be
fully operational by mid-2005.
"Keeping with our primary goal of establishing the best system
that can be used by all takaful operators globally, irrespective
of their business model and accounting practice, our approach
was to outsource to an expert that could also be a good working
business partner," said Md Azmi Abu Bakar, Chief Operating
Officer, Takaful Malaysia. "We are honored to work with TCS in
developing this system."
The Takaful Integrated System will be built on a highly portable
J2EE (Java 2 Platform, Enterprise Edition) architecture and will
automate Takaful Malaysia's business processes such as policy
administration and claims processing. The reduction of paperwork
and streamlining of business processes will 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 (short messaging
system).
"We've reached a crucial milestone - we've completed the
blueprint for a new breed of insurance systems, and now we can
start building," said Mr. Girija Pande, regional director and
head for TCS Asia Pacific.
Takaful Malaysia is the first takaful operator to offer takaful
businesses in Malaysia and was established from recommendations
given by the Malaysian government's Special Task Force on the
"Study for the Establishment of an Islamic Insurance Company (Takaful)".
Tata Consultancy Services Malaysia Sdn. Bhd., a MSC (Mutimedia
Super Corridor) Status company, will 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. |
