Celent recognizes ALIP as a leader in technology and functionality categories
NEW YORK; Nov. 14, 2018 – Accenture (NYSE: ACN) has received two XCelent awards for its life insurance and annuity platform in a recent report from research and advisory firm Celent.
In the report, “North America New Business and Underwriting Systems ABCD Vendor View,” Celent recognized the Accenture Life Insurance and Annuity Platform (ALIP) as the top solution from among 19 new business and underwriting systems in the “Advanced Technology” and “Breadth of Functionality” categories. It also refers to ALIP as a complete offering with a comprehensive set of preloaded underwriting rules.
Tom Scales, who leads Celent’s life and health research across the Americas said, “We had the opportunity to review a number of fine systems during our research. We were impressed with the ALIP new business and underwriting system and recognized it with our award. The fact that it is a component of their larger policy administration system is a bonus."
The report also highlights Accenture’s cloud infrastructure availability, expanded integration capabilities and mobile platform, as well as development and change tooling processes.
“We’re honored to be recognized for our advanced technology that’s helping our clients capture and convert new business with speed and ease,” said Shay Alon, a managing director at Accenture who leads its Life and Annuity Software practice. “Together with our clients, we’re guiding the life and annuity industry’s digital transformation through intelligent underwriting automation and seamless connectivity to third-party providers, and we continue to invest in innovations that help insurers drive sustained growth.”
The XCelent Awards are designed to help financial institutions and technology providers stay abreast of industry trends by evaluating the shifting vendor marketplace and awarding top-performing vendors.
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 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 459,000 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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