Allianz Life Launches New Life and Annuity Insurance System Based on Accenture's Software
NEW YORK; August 8, 2013 – Accenture (NYSE: ACN) announced today that Allianz Life Insurance Company of North America (Allianz Life) has gone live on the Accenture Life Insurance Platform, its life and annuity insurance software suite. The new system supports Allianz Life’s new business and core policy administration needs for its variable annuity products.
Allianz Life selected the Accenture Life Insurance Platform to replace its aging system with a more modern platform that better supports customer service and product development. Working closely with the Allianz Life team, Accenture replaced a core system with the new software within an agreed-upon timeline for over 100 users involved in new business and policy administration.
“The Accenture Life Insurance Platform provides Allianz Life with a more modern, flexible operating platform that positions us to meet our future product development and customer service needs,” said Jasmine Jirele, senior vice president enterprise operations at Allianz Life. “As the market moves, our products must change with it. The system embeds industry best practices and helps us stay in front of the market.”
Used by more than 40 leading insurers worldwide, the Accenture Life Insurance Platform is a configurable and scalable software suite that offers life insurance and annuity carriers of all sizes solutions for product development, new business, underwriting, policy administration and payout. The solution is available as an integrated suite of software with modules that can be implemented individually or as part of a broader migration strategy.
“Insurers must innovate within their product portfolio and move those products to market faster than ever before,” said Mitchel F. Ludwig, product line lead of Accenture Software for life insurance. “In a tight economy, an extra 30 days of robust revenues before imitators rush into the market can be the difference between profitable growth and stagnation. With the use of the Accenture Life Insurance Platform, Allianz Life can easily address ongoing changes in demand for products, thereby gaining a competitive advantage.”
About Allianz Life
Allianz Life Insurance Company of North America, one of FORTUNE’s 100 Best Companies to Work For in 2013, has been keeping its promises since 1896. Today, it carries on that tradition, helping Americans achieve their retirement income and protection goals with a variety of annuities and life insurance products. As a leading provider of fixed index annuities, Allianz Life is part of Allianz SE, a global leader in the financial services industry with 142,000 employees worldwide. More than 78 million private and corporate customers rely on Allianz knowledge, global reach, and capital strength to help them make the most of financial opportunities.
Accenture is a global management consulting, technology services and outsourcing company, with 261,000 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. Its home page is www.accenture.com.
Accenture Software combines deep technology acumen with industry knowledge to develop differentiated software products. It offers innovative software-based solutions to enable organizations to meet their business goals and achieve high performance. Its home page is www.accenture.com/software. For Life Insurance software, its home page is www.accenture.com/lifesoftware. The Accenture Life Insurance Platform is also an integral part of Accenture Life Insurance Services, a business service enabling clients to source, rather than build, distinctive industry capabilities that help insurers configure and deliver innovative products to market faster, reduce costs, manage risk and accelerate profitable growth.
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