NEW YORK; May 24, 2004 – Accenture (NYSE: ACN) has been selected to implement its underwriting solution at Allmerica Financial Corporation’s property and casualty insurance division.
The Accenture Underwriting Components solution is a Web-based software platform designed to help improve the efficiencies of insurers’ underwriting systems through diagnostics and rules-based technology that can help insurers implement consistent underwriting practices and may improve data accuracy. The solution can allow underwriters to manage their accounts more efficiently and to segment and evaluate risks more effectively.
Accenture’s underwriting solution will be used to help provide Allmerica’s underwriters with an integrated, Web-based system that interfaces with the insurer’s policy and point-of-sale applications. The new system is designed to help automate underwriters’ routine tasks, allowing underwriters to focus on activities that are more directly related to the business of underwriting, such as improving loss and expense ratios.
“The Accenture Underwriting Components solution is a great fit for our organization on two important fronts,” said Greg Tranter, Chief Information Officer at Allmerica. “It complements our overall automation strategy to utilize more Web-based solutions, and it provides a streamlined mechanism for our service operations.”
“The Accenture Underwriting Components solution can help leading insurers like Allmerica gain a competitive advantage by providing a more disciplined underwriting process, automating routine tasks and facilitating timely and accurate account management,” said Gail E. McGiffin, an associate partner in Accenture’s Insurance Solution Group. “We are pleased to extend our relationship with Allmerica’s commercial lines division.”
Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills, and technologies to help clients improve their performance. With approximately 90,000 people in 48 countries, the company generated net revenues of US$11.8 billion for the fiscal year ended Aug. 31, 2003. Its home page is www.accenture.com.
Worcester, Massachusetts-based Allmerica Financial is group of insurance companies headed by Allmerica Financial Corporation, a Fortune 500 company. Allmerica’s lead companies include Howell, Michigan-based Citizens Insurance Company of America, founded in 1915, and Worcester-based The Hanover Insurance Company, founded in 1852. Citizens and Hanover offer a range of property and casualty insurance coverages to individuals, families and business through a wide network of independent agents. The Citizens and Hanover Insurance Companies are ranked among the top 30 property and casualty insurers in the country.