NEW YORK; Feb. 26, 2019 – Accenture (NYSE: ACN) has, for the first time, implemented the Accenture Life Insurance & Annuity Platform (ALIP) for new business and underwriting in a full-service cloud-hosted environment. The innovative solution combines ALIP on Microsoft Azure cloud; the RGA AURA® underwriting rules engine, which is now available out-of-the-box within ALIP; and Accenture’s application and infrastructure outsourcing service.
Designed to deliver new levels of automation and real-time underwriting decisions, the solution enables insurance carriers to leverage the benefits of cloud technology to drive innovation and business growth while curbing IT costs. A top-five U.S. life insurer is already implementing the new solution as part of a multiphase project and is now ramping up processing for its high-volume business.
“Accenture is piloting and deploying solutions that transition insurers to the cloud, applying deep industry knowledge to help them capitalize on industry disruption through innovation in front-end digital business models, enhanced customer experience and back-end IT efficiencies,” said Shay Alon, a managing director at Accenture who leads its Life and Annuity Software practice. “This winning combination of ALIP, AURA and Azure further advances underwriting automation and can help insurers transform their customer offerings at scale, with innovative products and an exceptional customer experience across distribution channels.”
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. 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.
Accenture, Avanade and Microsoft recently launched the Accenture Microsoft Business Group, which will bring together more than 45,000 dedicated professionals — the largest group of Microsoft solution experts in the world. With new joint products and services built on the Microsoft cloud, clients will be able to engage customers in new ways, empower employees, reimagine operations and invent new products and services.
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 469,000 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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