July 18, 2017
Accenture Positioned as a Leader by Gartner in the 2017 Magic Quadrant for North America Life Insurance Policy Administration Systems
The report marks the fourth consecutive mention for Accenture Life Insurance & Annuity Platform (ALIP) as a leader; evaluation based on “completeness of vision” and “ability to execute”
NEW YORK; July 18, 2017 – Accenture (NYSE: ACN) has been positioned for the fourth consecutive time as a Leader in Gartner’s June 2017 “Magic Quadrant for Life Insurance Policy Administration Systems, North America*” report.
The Gartner Magic Quadrant evaluated vendors that provide policy administration systems (PAS) for individual and group life and annuity products targeted at life insurers in North America on two primary criteria – “completeness of vision” and “ability to execute.” Accenture Life Insurance & Annuity Platform was once again positioned in the “Leaders” quadrant.
Gartner Research Director, Richard Natale, said, “The need to support new technology such as mobile and self-service is a high priority for insurance CIOs, with 60% of reference clients citing that need as the driver for selecting a new PAS. Vendors are responding with modernization programs to reduce legacy technology footprints such as COBOL and introducing newer digital capabilities such as APIs and web portals. Equally important for CIOs is the need to find efficiency, with 64% of reference clients citing this as a driver.”
4th consecutive mention for Accenture as a leader in Magic Quadrant for Life Insurance Policy Administration Systems, North America
Shay Alon, Global Managing Director, Accenture Life and Annuity Software, said, “We believe being named a Leader once again validates our strategic vision and multi-year investment in our core platform, digital capabilities and our ability to implement. By investing in new technologies we’re able to give our clients a competitive advantage and drive sustained value as they embrace an increasingly digital landscape.”
Used by leading insurers worldwide, ALIP 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.
Accenture’s life and annuity software is part of Accenture Life Insurance Services, within Accenture Financial Services. By applying extensive industry knowledge to continuously enhance its software, Accenture helps insurers reduce operating costs, manage risk and drive growth through improved product development and distribution, enhanced policy administration and distribution, and technology platform consolidation and modernization. The homepage is www.accenture.com/lifeandannuitysoftware.
* Gartner, Inc. “Magic Quadrant for Life Insurance Policy Administration Systems, North America,” June 27, 2017.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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 411,000 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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