Accenture (News - Alert) plc, a management consulting, technology services and outsourcing company, recently launched the new version of Duck Creek Policy Administration, its policy administration and rating software platform and a key component of its Property & Casualty (P&C) Insurance software suite.
The new version comes with features that help users to reduce implementation time and cost, while improving account management and underwriting efficiencies.
Processes like the management of account data for large commercial risk quoting and policy processing; accessing information with an updated user interface highlighted by a new toolbar; getting products to market faster; and streamlining the testing process, have become seamless.
A business user can now create a product without the difficulty of writing code, greatly shortening development time and freeing up IT resources for other valuable tasks. Users can easily create new products, add new rules and change products in record time through a single point of change.
Users can also upgrade easily when new versions of the operating system are released. The solution is designed on a .NET (News - Alert) technology platform for flexibility in managing products across multiple business lines for agents, consumers and underwriters.
"Insurance companies are looking for advanced technologies that enable them to respond quickly to shifting market demands," said Michael 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."
In related news, United Bank of India is embarking on a transformation program to enhance its productivity by harnessing technology and operational changes. UBI has signed an agreement with Accenture (NYSE: ACN), which will provide management consulting advisory services to support the bank's strategic transformation program.
Accenture will advise the bank on ways to develop and optimize its operating model, with a significant focus on strengthening the bank's branch network and other customer channels. This will include assisting UBI with ways to renew and optimize its more than 1,700 branches, enhance the sales-effectiveness of its branch workforce, and improve and refine its branch footprint.
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Edited by Braden Becker