Tata Consultancy Services (TCS) announced today a strategic partnership with Dhofar Insurance Company (DIC), Oman’s largest insurance enterprise, to transform its core insurance platform. The agreement, announced on May 12, will see TCS deploy its flagship product TCS BaNCS for Insurance across DIC’s operations.
The shares of Tata Consultancy Services (TCS) Limited were trading at ₹3,545.50 up by ₹105.20 or 3.06 per cent on the NSE today at 12.05 pm.
DIC, which holds over 18 per cent market share in Oman’s general insurance sector, will implement the platform to enhance customer and advisor experience across its life, medical, general, and motor insurance business lines. The transformation aims to harmonise existing product offerings and improve business agility.
“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 has maintained a presence in Oman for over 20 years and opened its first office in the country earlier this year. This partnership aligns with economic development goals outlined in Vision Oman 2040.
Established in 1989, Dhofar Insurance operates with a paid-up capital of OMR 13 million. TCS BaNCS for Insurance currently serves more than 75 installations worldwide, offering features including customer management, policy administration, and claims management.
TCS reported consolidated revenues of US $30 billion for the fiscal year ended March 31, 2025, and employs over 607,000 consultants across 55 countries.
Published on May 12, 2025
