Insurance Technology Featured Article

Accenture Upgrades Accenture Life Insurance Platform (ALIP)

April 08, 2014

In the increasingly competitive insurance business, insurers are relying more and more on technology to give them a competitive edge. As a result, several major vendors have launched a series of diverse products to cater to the demand for technology in the insurance domain.

Accenture (News - Alert), a long-standing technology solutions provider to the insurance industry, has recently upgraded its Accenture Life Insurance Platform (ALIP)—an advanced life insurance and annuity software suite and enables insurance service providers to provide faster, reliable service to their customers.

ALIP has been upgraded with the addition of several life and annuity product enhancements to its existing platform. These upgrades come at a time when the insurance industry is increasingly being ruled by a complex set of regulations. The new upgrades simplify various calculations and automate tasks and mitigate manual processing.

The new version also sports a phased re-design and modernization of the interface. It contains some new templates which enable users to play around with various features, transactions, calculations, tables and business processes.

The Accenture Life Insurance Platform supports essential business functions throughout the policy lifecycle. The company also allows the clients to deploy it either as a complete suit or as a standalone solution.

“We strive to continuously enhance our platform capabilities in order to provide our clients with a flexible, efficient solution that enables faster product introductions,” said Shay Alon, managing director, Life & Annuity Software, Accenture. “These features have been put into use by some of our clients in order to deliver products to market more quickly, at a reduced cost, keeping our clients competitive and their customers happy.”

In addition to its insurance solutions, Accenture has also been upgrading its other platforms offered in other industry verticals. In February last year, the company updated its Accenture Public Health Platform (APHP). According to Accenture, the new version, 3.1, represents the company’s committed efforts to provide increased functionality and enhanced flexibility in system configuration.




Edited by Peter Bernstein

Article comments powered by Disqus

Related Insurance Technology Articles

Astoria Company Lead Generation Platform Gets Update

So often the news in the contact center solutions sector has to do with the inbound side of things. Part of this obviously is due to the priority now being placed by C-levels around the world on improving the customer experience so as to not just retain existing customers and encourage inquirers to become new ones, but also to take advantage of the interactions to upsell. However, this does not mean there is a lack of innovation in the outbound side of things as well. [ Read More ]
07/02/2015

UK Health Insurer Vitality Attacked Over Facebook App Use

With wearable technology literally and figuratively changing the face of healthcare insurance as data collected and shared can and will have an impact on rates, a cautionary tale has reared its head in England that is of note. As none other than the BCC documented recently on its website's technology page, U.K.-based health insurer Vitality (former known as PruHealth) has privacy advocates in the U.K. up in arms because of what they believe is a misleading email. [ Read More ]
07/02/2015

SAP SE Launches Cost and Revenue Allocation for Financial Products Application

SAP SE, a company most known for its work with databases, is getting into the financial market in a significant way with the release of its Cost and Revenue Allocation for Financial Products application. The new release will leverage SAP HANA to give executives proper access to financial information and corporate data. [ Read More ]
06/24/2015

AutoClaim Mobile App Acquired by ABT Mining Company to Speed Claims Processing

Mobile app gives drivers tools to gather critical claims information right after an accident to speed processing. [ Read More ]
06/23/2015

Events

Weekly Live Demo
Contact Center Solutions

Register Today!