Six US Insurers Implement Latest Accenture Life Insurance and Annuity Platform
September 14 2017 - 7:59AM
Business Wire
Six large insurance carriers have implemented the latest version
of the Accenture Life Insurance and Annuity Software Platform
(ALIP), a comprehensive software system for processing life and
annuity policies that consists of extensive pre-built product
templates, business rules, workflows and an advanced architecture.
The carriers, which include several tier one through tier three
insurance companies in the U.S., are using the platform to
transform their businesses and modernize critical systems to
capitalize on digital service opportunities and improve speed and
agility.
Digital service capabilities and the mounting costs of legacy
systems are driving carriers to modernize their infrastructures,”
said Shay Alon, managing director for Accenture Life and Annuity
Software. “ALIP’s deep features and out-of-the-box content combined
with our ongoing investment in new and exciting capabilities and
strong upgrade methodology for keeping customers current is a
compelling strategic platform for this environment.”
The latest group of carriers to implement ALIP included new and
existing licensees. Accenture, which led the implementations,
leveraged automation tools, skills and methodologies that led to on
time and on budget implementations, including one upgrade that took
just eight weeks and an end-to-end implementation that was
completed in twelve months.
Used by leading insurers worldwide, ALIP is a robust,
configurable and scalable solution that provides life insurance
carriers and annuity providers with advanced capabilities for
product development, new business development, underwriting, policy
administration, claims and payout. It is available as an on-premise
solution and over the cloud as an integrated suite of software with
modules that can be implemented individually or as part of a
broader migration strategy. The platform is part of Accenture Life
Insurance Services, within Accenture Financial Services.
By applying extensive industry knowledge to continuously enhance
its software, Accenture helps insurers reduce operating costs,
manage risk and drive growth through improved product development
and distribution, enhanced policy administration and distribution,
and technology platform consolidation and modernization. The
homepage is www.accenture.com/lifeandannuitysoftware.
About Accenture
Accenture (NYSE:ACN) is a leading global professional services
company, providing a broad range of services and solutions in
strategy, consulting, digital, technology and operations. Combining
unmatched experience and specialized skills across more than 40
industries and all business functions – underpinned by the world’s
largest delivery network – Accenture works at the intersection of
business and technology to help clients improve their performance
and create sustainable value for their stakeholders. With more than
411,000 people serving clients in more than 120 countries,
Accenture drives innovation to improve the way the world works and
lives. Visit us at www.accenture.com
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AccentureJim O’Brien, +1 804 288
2902jim.obrien@accenture.com
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