Generali France, the second-largest general insurer in France, has selected the Accenture (News - Alert) Life Insurance Platform to manage more than 100,000 individual life insurance policies. According to Accenture, Generali France no longer underwrites, markets or promotes these policies.
The Accenture Life Insurance Platform is a reliable software suite used by more than 40 major life insurance and annuity carriers. The platform allows them to change their policy administration operations, reduce operating expenses and enable speed to market. It also enables reductions in total cost of ownership with the help of improved product testing features, a continued shift from code to configuration and expanded use of automated testing tools.
According to Accenture, this agreement showcases the company’s investment in improving its life software platform to cater to the requirements of the French individual life insurance market.
The company has high expectations for improving its business in France and looks to provide software solutions to other French companies in the near future.
“To maintain profitable growth, insurers will have to increase customer loyalty and reduce operating costs,” said Daniele Presutti, managing director of Accenture Life Insurance Services. “The agreement will enable Generali France to focus on client relationship and product development while reducing costs and operational risks and increasing productivity by standardizing and automating its policy management processes.”
Recently, the company introduced the updated version of its life and annuity insurance software suite, the Accenture Life Insurance Platform. According to the company, this version is created to assist life and annuity insurers decrease the time to introduce new products, decrease operating expenses, support global expansion and achieve more profitable growth.
By supporting an increased number of fund processing features, including fund bonuses and fund splits, minimum fund amounts and minimum fund remaining amounts, the platform allows users to provide numerous investment options.
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Edited by Braden Becker