NEW YORK; Oct. 25, 2004 – Accenture has been selected to implement its underwriting solution at Fireman’s Fund Insurance Company’s personal and commercial lines business units.
Fireman’s Fund will implement the full suite of the Accenture Underwriting Components Solution, a Web-based software platform designed to help improve the efficiencies of insurers’ underwriting systems through diagnostics and rules-based technology. The Accenture solution is designed to help provide underwriters and operations staff with an integrated platform to better leverage their own best practices in risk selection and pricing, automate underwriters’ routine tasks, and allow underwriters to focus on value-added activities, such as managing accounts more efficiently and segmenting and evaluating risks more effectively.
The Accenture underwriting solution is built on the Microsoft .NET platform, which can enable insurers to conduct underwriting transactions through the use of Web services. Accenture has implemented its claim and underwriting components solutions using the .NET platform at several leading insurers globally.
"We intend to transform our underwriting operations across all lines of business, giving our underwriters the tools and flexibility to quickly adapt to market changes, to help improve risk-management decisions and bottom-line results," said Bob Eichenberger, vice president of front office product management at Fireman’s Fund Insurance Company. "Accenture offered an invaluable software asset for automating underwriting processes as well as a plan for helping us quickly implement our goals for seamless customer service."
“By automating routine tasks and enhancing its account management capabilities, Fireman’s Fund should gain a more disciplined underwriting process, helping it to sustain positive results through fluctuating market cycles,” said Gail McGiffin, a partner in Accenture’s Insurance industry group. “We are pleased to extend our relationship with Fireman’s Fund on this initiative.”
The announcement was made at the Chartered Property Casualty Underwriters (CPCU) Society’s 60th Annual Meeting and Seminars.
Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills and technologies to help clients improve their performance. With more than 100,000 people in 48 countries, the company generated net revenues of US$13.67 billion for the fiscal year ended Aug. 31, 2004. Its home page is www.accenture.com.
About Fireman’s Fund
Fireman’s Fund Insurance Company is a premier property and casualty insurance company providing personal, commercial, marine, excess and surplus lines and agribusiness insurance products nationwide. Fireman’s Fund is a member of the Allianz Group, one of the world’s largest providers of property and casualty insurance and other financial services..