NEW YORK; May 14, 2008 -- Accenture (NYSE: ACN) has been selected by Continental Casualty Company, a principal insurance company subsidiary of CNA Financial Corporation (NYSE: CNA), to administer certain annuity and retirement-related products that CNA no longer underwrites, markets or promotes under a five-year business process outsourcing (BPO) agreement.
The administration of these products includes the handling of customer inquiries, requests and payments on a number of policy administration platforms, including the Accenture Life Insurance Platform. The services will be performed by Accenture Insurance BPO Services, an Accenture business that offers insurance BPO services to life, annuity, pension and property and casualty insurers.
The goal of the agreement is to maintain excellent customer service on behalf of CNA while controlling the cost of administering ’closed’ annuity and retirement product portfolios with slowly receding volumes.
Accenture is a global management consulting, technology services and outsourcing company. 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. With 178,000 people in 49 countries, the company generated net revenues of US$19.70 billion for the fiscal year ended Aug. 31, 2007. Its home page is www.accenture.com.
CNA is the country’s seventh largest commercial insurance writer and the 13th largest property and casualty company. CNA’s insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA services include risk management, information services, underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com. CNA is a registered service mark, trade name and domain name of CNA Financial Corporation.