Accenture (News - Alert), global management consulting, technology services and outsourcing company, recently announced the availability of version 5.1 of the Accenture Duck Creek Policy Administration software solution.
In a statement, Michael A. Jackowski, global managing director, Accenture Software for P&C Insurance, said that, “Insurance companies are looking for advanced technologies that enable them to respond quickly to shifting market demands. 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.”
The latest version of the Accenture Duck Creek Policy Administration software solution has been designed to - simplify management of account data for large commercial risk quoting and processing of policy; help optimize management of customer data; allow fast access to information via an improved user interface featuring a customizable toolbar that enables users to easily manage and complete tasks within the policy administration and rating process, thereby driving enhanced workflow; allow faster time to market products via updated product templates which support regulatory standards compliance close to three months prior to the content effective date; optimize the testing process as the Accenture Duck Creek Test Automation Center (TAC) enables development of reliable automated test scripts for installing Accenture Duck Creek Policy and Billing software.
Furthermore, insurers can now take advantage of the new advanced technology solution without worrying about increasing implementation time and costs as the company also provides third-party solutions which are pre-integrated with the Accenture Duck Creek Policy Administration solution.
Capabilities of the pre-integrated solutions include - accurate and complete location data accumulated via an Address Verification and Geo-Coding solution from Pitney Bowes Software; greater insight into complex risks via Advisen’s Market Insight which offers understanding of the marketplace by delivering information on risk exposure, market segment data, and broker and carrier information; and quick access to enterprise-wide documents via OnBase, an enterprise content management (ECM) solution, which makes it easy for users to manage policy documents.
Furthermore, version 5.1 of Accenture Duck Creek Policy Administration software provides users with easy access to information pertaining to a policy, such as standard policy attachments, and ad hoc files or associated documents, and data at various stages within the policy administration process.
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Edited by Brooke Neuman