Accenture Helping Zurich Insurance Group Optimize Its Global Finance IT Function
ZURICH; Nov. 4, 2013 – Accenture (NYSE: ACN) is assisting Zurich Insurance Group (Zurich) to streamline Zurich’s global finance IT function under a five-year application services agreement signed in 2012. The initiative, which is being implemented through Accenture Finance and Risk Services, is designed to help Zurich further improve its finance IT processes, better align the finance IT function to support the company’s objectives, and reduce costs.
Accenture is developing, implementing and managing finance and business intelligence applications that support the insurer’s operations in North America, Germany, Switzerland and the United Kingdom. The initiative enables faster and more collaborative decision-making within the insurer’s finance IT organization. Zurich’s finance and business intelligence applications are based on SAP® solutions and support a range of processes including accounts payable, accounts receivable, month-end close and balance-sheet reconciliations.
“Our goal is to generate the most value from our applications, working with our Finance leadership, to build the foundation for a world-class finance organization,” said Markus Nordlin, Chief Information Technology Officer, Zurich. “Accenture’s global track record in SAP application services and finance transformation projects, combined with its deep industry knowledge, makes it an ideal partner to help us drive higher returns on our IT spend and align IT more closely with our business strategy.”
John Del Santo, senior managing director of Accenture’s Global Insurance Industry practice, said, “In this challenging economic environment, insurers need to do more with less. By streamlining its finance technology and associated IT processes, Zurich is ensuring that it delivers enhanced services to its finance professionals while freeing up resources for other strategic projects that are also important to support business growth and improve service quality.”
About Zurich Insurance Group
Zurich Insurance Group (Zurich) is a leading multi-line insurance provider with a global network of subsidiaries and offices in Europe, North America, Latin America, Asia-Pacific and the Middle East as well as other markets. It offers a wide range of general insurance and life insurance products and services for individuals, small businesses, mid-sized and large companies as well as multinational corporations. Zurich employs about 60,000 people serving customers in more than 170 countries. The Group, formerly known as Zurich Financial Services Group, is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.
Accenture is a global management consulting, technology services and outsourcing company, with approximately 275,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$28.6 billion for the fiscal year ended Aug. 31, 2013. Its home page is www.accenture.com.
Accenture Finance and Risk Services is a business service within Accenture’s Financial Services operating group that provides management consulting, technology and outsourcing services to banks, insurers and capital markets organizations. Its services are designed to help financial services companies leverage the critical functions of risk and finance as competitive differentiators in executing their business strategy.
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