|[December 18, 2012]
Accenture Introduces New Version of its Property and Casualty Insurance Software Featuring Enhanced Underwriting Capabilities
NEW YORK --(Business Wire)--
Accenture (News - Alert) (NYSE: ACN) announced the availability of Accenture
Duck Creek Policy Administration release 5.1, the latest version of
its policy administration and rating software platform and a key
component of its Property
& Casualty (P&C) Insurance software suite. The new release
provides functionality aimed at helping insurers improve account
management and underwriting efficiencies, combined with features
designed to reduce implementation time and cost.
"Insurance companies are looking for advanced technologies that enable
them to respond quickly to shifting market demands," said Michael A.
Jackowski, global managing director, Accenture
Software for P&C Insurance. "This release includes a number of
application performance enhancements such as improved rating and
underwriting rules processing, particularly for high volume scenarios
common to top tier insurers."
New capabilities of the software are intended to help users:
Easily manage account data for large commercial risk quoting and
policy processing. New enhancements provide key support for
consolidating and maintaining customer information across multiple
lines of business, helping to ensure data quality and consistency.
Quickly access information with an updated user interface
highlighted by a new toolbar. An improved, customizable toolbar
enables the user to add, manage and complete their tasks at any stage
in the policy administration and rating process, thereby facilitating
an optimized workflow.
Get products to market faster. Updated product templates assist
users with regulatory standards compliance up to 90 days ahead of the
content effective date, encouraging first-mover status. The templates
include high quality country-wide Insurance Sevices Office (ISO) and
National Council on Compensation Insurance (NCCI) bureau content.
Streamline the testing process. Accenture Duck Creek Test
Automation Center (TAC) gives users the ability to design reliable
automated test scripts for Accenture Duck Creek Policy and Billing
installations without the need to learn computer scripting language.
TAC also allows test engineers and testers to refine testing focus,
resulting in significant savings in time and costs over projects that
employ manual testing.
To accelerate Accenture Duck Creek's global adoption, pre-configured
templates for commercial property owner's products are now available for
the UK market. These templates, based on Polaris standards and
supporting iMarket connectivity, help to enable rapid implementation of
commercial property owner's line of business with lower cost and lower
To enable insurers to benefit from additional state-of-the-art
technologies while reducing implementation time and costs, third-party
solutions pre-integrated with Accenture
Duck Creek Policy Administration are available as an option. The
pre-integrated solutions provide insurers with:
Accurate and complete location data. Pitney Bowes Software's
Address Verification and Geo-Coding provides underwriters with the
data they need to make informed decisions with respect to risk
location and loss exposure.
Increased insight into complex risks. Advisen's Market Insight
presents a comprehensive view of the marketplace by providing risk
exposure, market segment data, as well as broker and carrier
information, aiding in enabling more informed decision making.
Seamless access to enterprise-wide documents. OnBase, Hyland
Software's enterprise content management (ECM) solution, provides
insurers with a near-effortless way to manage policy documents. The
latest release of Accenture Duck Creek Policy Administration enables
users to access information associated to a policy, including standard
policy attachments, ad hoc files or related documents or data, at any
stage in the policy administration process.
Accenture's award-winning policy and claims software offers carriers an
integrated suite of software with modules that can be implemented
individually or as part of a broader migration strategy. The combined
software enables insurers of all sizes to benefit from a flexible suite
of P&C software to configure products, transact lines of business and
Accenture is a global management consulting, technology services
and outsourcing company,
with 257,000 people serving clients in more than 120 countries.
Combining unparalleled experience, comprehensive capabilities across all
industries and business functions, and extensive research on the world's
most successful companies, Accenture collaborates with clients to help
them become high-performance businesses and governments. The company
generated net revenues of US$27.9 billion for the fiscal year ended Aug.
31, 2012. Its home page is www.accenture.com.
Accenture Software combines deep technology acumen with industry
knowledge to develop differentiated software products. It offers
innovative software-based solutions to enable organizations to meet
their business goals and achieve high performance. Its home page is www.accenture.com/software.
For P&C Insurance software, its home page is www.accenture.com/pcsoftware.
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