BNP Paribas Cardif and Accenture Sign Eight-Year Insurance Business Process Outsourcing Agreement
PARIS; Dec. 1, 2011 — Accenture (NYSE: ACN) and BNP Paribas Cardif have signed an eight-year business process outsourcing (BPO) agreement under which Accenture will manage an important portfolio of BNP Paribas Cardif’s group life insurance policies business in France, including the administrative management of the insurer’s call centers and ancillary accounting operations.
The agreement is designed to enhance the quality and efficiency of services BNP Paribas Cardif is providing to its clients, leveraging an information technology (IT) platform that benefits from Accenture’s expertise and competencies. The platform is designed to become an industry standard and to support BNP Paribas Cardif’s growth agenda and reinforce its market position in the group life insurance business.
“In today’s economy, leading insurers are increasingly looking to streamline their operations to create new business opportunities,” said Didier Descombes, an executive director in Accenture’s Financial Services group. “Our objective is to provide high-quality and cost-competitive services, and support insurers in their business strategy in France and globally.”
“The life insurance industry is undergoing fundamental change, driven by increased regulation and risk management pressure and more volatile markets,” said Daniele Presutti, managing director of Accenture Life Insurance Services. “This provides an opportunity for some insurers to gain market share. Outsourcing can help them strengthen capabilities to reach their objectives.”
Accenture Life Insurance Services, a business service within Accenture’s Financial Services operating group, serves more than 60 life insurance, annuity and pension clients worldwide.
Cardif (www.bnpparibascardif.com), insurance unit of BNP Paribas Cardif, develops and markets savings and protection solutions which are distributed via diverse channels. Its activities are geographically diversified with strong positions in Europe, Asia, Latin America. Cardif’s roster of partners now includes more than 35 of the world’s top 100 banks.
BNP Paribas Cardif (www.bnpparibascardif.com) is the life and property & casualty insurance subsidiary of BNP Paribas. It counts close to 9,000 employees, 73% of them outside France. BNP Paribas Cardif had gross written premiums of €25,3 billion in 2010. It generated 48% of its 2010 gross written premiums outside France.
BNP Paribas Cardif is one of the top 15 European insurers. Its life and non-life insurance units have received an AA- (stable outlook) rating from Standard & Poor’s.
In its commitment in Corporate Social Responsibility, BNP Paribas Cardif has adopted a Socially Responsible Investment program, encourages diversity throughout the enterprise (earning the "Equality at Work" label in France) and supports local economic development in the markets where it operates.
Accenture is a global management consulting, technology services and outsourcing company, with approximately 236,000 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$25.5 billion for the fiscal year ended Aug. 31, 2011. Its home page is www.accenture.com.
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