January 11, 2016
Accenture Life Insurance and Annuity Platform Wins XCelent Award for Policy-Administration Functionality
Accenture platform recognized as a leading policy-administration solution
NEW YORK; Jan. 11, 2016 – Accenture (NYSE: ACN) has received an XCelent Award for the Accenture Life Insurance & Annuity Platform (ALIP), an advanced life-and-annuity-insurance policy-administration software suite, in Celent’s recent report titled “North America Policy Administration Systems 2015: Life, Annuities, Pension, and Health ABCD Vendor View.”1
The report, which assessed 26 policy-administration systems, named ALIP as the XCelent Award winner in the “Breadth of Functionality” category. The category, based upon functions and features available in the base offering, ranked ALIP as the leading solution.
“Accenture continues to invest heavily in enhancing ALIP, which is among the top products in the market with a wide range of life, fixed and variable annuity products in production,” said Karen Monks, analyst with Celent’s Insurance group and coauthor of the report. “Accenture continues to improve its software and service offerings as reflected by positive ratings from customers.”
The report recognizes ALIP for its improved usability, interface redesign and the added out-of-the box templates that help speed the process of new-product development. It also states that ALIP’s Product Testing Workbench and Product Value Debugger stand out among the competition.
“We are constantly striving to progress ALIP with continual investments in new and expanded functionality,” said Shay Alon, global managing director of Life & Annuity Software at Accenture. “We invest in delivering innovations as well as implementing best practices in configuring common life and annuity product features, as demonstrated by winning the respectful Breadth of Functionally award. Our goal with these features is to help clients simplify business processes, introduce new products more quickly and capture a bigger piece of the market.”
ALIP, used by leading insurers worldwide, is a robust, configurable and scalable solution that provides life insurance carriers and annuity providers with advanced capabilities for product development, new-business development, underwriting, policy administration, claims and payout. It is available as an on-premise solution and over the Cloud as an integrated suite of software with modules that can be implemented individually or as part of a broader migration strategy.
1 Celent, “North American Policy Administration Systems 2015: Life, Annuities, Pension, and Health ABCD Vendor View” by Karen Monk, Tom Scales and Colleen Risk, November 2015.
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 373,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.
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