SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

CHANNEL BY TOPICS


QUICK LINKS




Accenture Unveils the Cloud Based Version of its Life Insurance Platform

Insurance Technology Featured Article

Accenture Unveils the Cloud Based Version of its Life Insurance Platform

Share
Tweet
May 17, 2012
By Raju Shanbhag
TMCnet Contributor

The Accenture (News - Alert) Life Insurance Platform is a reliable software suite used by more than 40 life insurance and annuity carriers. The software allows these insurance companies to transform their policy administration operations, while reducing operating costs and bringing their products to the market more quickly.


Accenture recently unveiled a cloud-based version of its award-winning life insurance software, now available with a Software as a Service (SaaS (News - Alert)) licensing option. It also helps firms improve growth and profitability.

The new business and underwriting component of Accenture Life Insurance Platform offers advantages that assist in improving efficiencies and reduce costs. It offers an automated and configurable rules-based decision engine, which lets life and annuity insurers quickly analyze underwriting risk, eliminate the need for manual intervention and accelerate the new business application process.

“Accenture is working very closely with many of the world's leading life and annuity insurers," said Daniele Presutti, managing director of Accenture Life Insurance Services. "This industry experience and knowledge has given us an advantage in building the leading processes and methodologies into our software and enabling us to anticipate market needs. We are leveraging this insight to continuously enhance Accenture Life Insurance Platform and provide a solution that helps life and annuity insurers of all sizes stay ahead of the curve.”

The engine reacts to consumers' application responses by asking additional reflexive questions, and makes a series of underwriting decisions based on Accenture's analysis of leading-practice underwriting guidelines, the company stated in a press release.

Accenture also recently completed the acquisition of Neo Metrics Analytics S.L., a consulting firm specializing in optimization and predictive analytics based in Madrid, Spain. The purchase will not only strengthen the company’s customer-focused analytics assets; it will also enhance the company’s analytical models and techniques for fraud management, quality management, pricing optimization and demand forecasting.




Edited by Braden Becker

Article comments powered by Disqus

Related Insurance Technology Articles

[ Read More ]
More on Insurance Technology





Technology Marketing Corporation

2 Trap Falls Road Suite 106, Shelton, CT 06484 USA
Ph: +1-203-852-6800, 800-243-6002

General comments: [email protected].
Comments about this site: [email protected].

STAY CURRENT YOUR WAY

© 2024 Technology Marketing Corporation. All rights reserved | Privacy Policy