Modern, comprehensive system supports all aspects of policy administration from rating risk to policy renewal
NEW YORK; Jan. 6, 2014 – Aspen U.S. Insurance, part of the insurance segment of Aspen Insurance Holdings Limited, has successfully transitioned the processing of some of Aspen’s U.S. Insurance business lines to Accenture (NYSE: ACN) Duck Creek property and casualty (P&C) insurance software. This will better support Aspen Insurance’s commercial specialty lines of business in the U.S. market. The new policy and rating platform enables Aspen U.S. Insurance to streamline processes, develop and deliver products to market faster and manage more effectively regulatory compliance filing and reporting.
“Aspen’s U.S. Insurance operation wanted to upgrade to a platform with deeper reporting and analytical capabilities," said Michael A. Jackowski, global managing director of Accenture Duck Creek. “The new software will enhance their diversification capabilities and meet the complex regulatory requirements for specialty business lines within the U.S. market.”
“Accenture’s Duck Creek software enables our U.S. business users to proactively manage specific aspects of policy administration,” said John Jankowski, Senior Vice President and Program Delivery Manager for Aspen U.S. Insurance.
Accenture Duck Creek Policy and Rating are two of the core components in the suite of software that also includes billing and claims solutions. Each component can be implemented independently or combined for an integrated approach to manage all aspects of the P&C insurance lifecycle.
About Aspen U.S. Insurance
Aspen U.S. Insurance, which is part of Aspen Insurance Holdings Limited (“Aspen”), writes property, casualty and specialty insurance in the United States on both a surplus lines and admitted basis through Aspen Specialty Insurance Company and Aspen American Insurance Company. An integrated team of underwriting and claims specialists in each business line provides customized solutions to complex and evolving risks. Aspen U.S. Insurance’s business lines include Property, Primary & Excess Casualty, Environmental, Marine, Energy and Construction, Management and Professional Liability, Commercial Surety and Programs.
About Aspen Insurance Holdings Limited ("Aspen")
Aspen provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Bermuda, France, Germany, Ireland, Singapore, Switzerland, the United Kingdom and the United States. For the year ended December 31, 2013, Aspen reported $10.2 billion in total assets, $4.7 billion in gross reserves, $3.3 billion in shareholders’ equity, and $2.6 billion in gross written premiums. Its operating subsidiaries have been assigned a rating of "A" ("Strong") by Standard & Poor’s, an "A" ("Excellent") by A.M. Best and an "A2" ("Good") by Moody’s.
Accenture is a global management consulting, technology services and outsourcing company, with approximately 319,000 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$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home page is www.accenture.com.
Accenture Duck Creek is a software suite offering comprehensive, full-featured property & casualty insurance software and SaaS solutions. Its configurable solutions are designed to work as a full end-to-end suite or as individual standalone components that adapt quickly and seamlessly to handle the unique needs of insurers of all sizes. Duck Creek software enables carriers to make better decisions in a real-time environment, streamline operations and improve their level of customer service. For more information, visit www.accenture.com/duckcreek.
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