Accenture Unveils Enhanced Life and Annuity Insurance Software Designed to Help Insurers Drive More Profitable Growth
Upgraded Accenture Life Insurance Platform delivers better capabilities to adapt to changing market conditions and reduce costs
- Faster life and annuity product deployment to adapt to market and regulatory changes. The upgraded Accenture Life Insurance Platform includes a new actuarial calculation engine to help life insurers reduce the time to launch new products. The Accenture Actuarial Calculation Engine enables insurers to quickly and easily configure standard mathematical, financial, statistical and actuarial calculations that are required to support life and annuity products. The high configurability of the engine allows insurers to take full control over product creation, enabling them to quickly react to customers’ evolving needs and changing regulatory environments.
- Enhanced fund processing functionality and greater usability to improve customer satisfaction. The platform, by supporting a greater number of fund processing capabilities, including fund bonuses and fund splits, minimum fund amounts and minimum fund remaining amounts, enables insurers to offer their customers more investment options. It also improves customer service with new policy management capabilities, like the ability for users to instantly recalculate benefits based upon changes to premium amounts.
- Greater multi-national support. The new platform enables global insurers to support all geographies on one single platform – thereby reducing total cost of ownership – with enhanced tax processing and other capabilities. These include configurable regional tax rules that allow users to define, manage and process multiple tax regimes, new local system settings, and an enhanced configuration migration process for multiple languages.
Accenture is a global management consulting, technology services and outsourcing company, with 257,000 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$27.9 billion for the fiscal year ended Aug. 31, 2012. ts home page is www.accenture.com.