Strategic partnership with Dhofar Insurance aims to boost digital transformation and enhance customer experience; TCS stock rises over 3%
Tata Consultancy Services (TCS) has entered a strategic alliance with Oman’s leading insurer, Dhofar Insurance Company (DIC), to upgrade its core insurance platform using TCS BaNCS for Insurance. The move is set to revolutionize DIC’s operations across life, medical, motor, and general insurance lines, reported thehindubusinessline.com.
Announced on May 12, the partnership will help DIC streamline its diverse product offerings, improve agility, and deliver an enhanced experience to both customers and advisors. DIC holds a dominant 18% share of Oman’s general insurance market and operates with a paid-up capital of OMR 13 million.
TCS shares surged by 3.06% to ₹3,545.50 on the NSE following the announcement, reflecting strong investor confidence in the deal
“As part of our transformation journey, it was important for us to modernise our core insurance platform and focus on innovation,” said Sunil Kohli, CEO of Dhofar Insurance Company.
TCS BaNCS for Insurance, already deployed in over 75 installations globally, will support DIC’s end-to-end insurance operations including policy administration, claims processing, and customer management. This engagement is expected to enable faster product launches, digital-first services, and better regulatory compliance.
TCS has had a longstanding presence in Oman for over two decades and opened its first local office earlier this year. The collaboration aligns with Oman’s Vision 2040 goals, which emphasize digital advancement and economic diversification.
With consolidated revenues of US $30 billion as of March 31, 2025, and a workforce of over 607,000 consultants in 55 countries, TCS continues to strengthen its global footprint through transformative partnerships like this.
