New functions allow insurance suppliers to introduce items to the industry a lot more speedily, effectively and reliably
NEW YORK--(Business WIRE)--April 07, 2014--
Accenture (NYSE:ACN) launched a new version of the Accenture Lifestyle Insurance coverage Platform (ALIP), an sophisticated daily life insurance and annuity software suite. This includes new abilities that can assist insurance companies minimize implementation costs, improve product velocity to marketplace, boost usability and attain greater functionality and scalability.
To make for a much more robust platform, ALIP has added a selection of life and annuity merchandise enhancements that help more complicated insurance coverage organization guidelines and calculations and permit customized processing by means of configuration. Insurance suppliers can continually review and increase their client service processes, additional automate duties and mitigate manual processing. The gains in efficiency support ALIP’;s potential to reduce IT operations charges by up to thirty percent(one) . Other enhancements to the newest model of the Accenture Life Insurance Platform include:
-- Enhanced Usability: The latest version of ALIP completes a phased re-layout and modernization of the interface that incorporates consumer suggestions for improved usability. The newest release streamlines the organization configuration method with a much more intuitive flow. Users can control widespread tasks this kind of as configuring pages and defining and managing company principles through a decreased quantity of clicks and actions, assisting increase efficiency and lessen coaching efforts. -- Item templates: New and enhanced out-of-the-box templates are based on business very best practices so that businesses can introduce new products a lot more swiftly. The template specs include the definition of the underlying attributes, transactions, calculations, tables and business processes. This will help companies create a foundation for implementation of traditional and non-standard daily life merchandise, contributing to ALIP's ability to support decrease the cost and time to launch new items by more than 50 percent2. -- Efficiency and testing benchmarks: ALIP just lately effectively completed a performance test with above 10 million insurance and annuity policies and applications, meeting performance expectations of even the biggest worldwide insurance coverage carriers. Final results incorporated ALIP's capability to approach 2,300 applications, 2,400 monetary transactions and 3,800 client transactions in one hour3. This new benchmark demonstrates increased scalability, assisting insurance companies to lessen technique costs as their company grows.
“We strive to constantly improve our platform capabilities in purchase to offer our clients with a flexible, effective solution that enables quicker solution introductions,” mentioned Shay Alon, managing director, Life & Annuity Computer software, Accenture. “These attributes have been place into use by some of our clientele in buy to supply items to industry more speedily, at a decreased value, maintaining our consumers competitive and their consumers satisfied.”
The Accenture Lifestyle Insurance coverage Platform, utilized by more than forty foremost insurers worldwide, is a robust, configurable and scalable application suite that delivers life insurance and annuity carriers of all sizes options for merchandise growth, new enterprise, underwriting, policy administration and payout. These answers are accessible as an integrated suite of software program with modules that can be implemented individually or as component of a broader migration approach.
Accenture is a worldwide management consulting, engineering companies and outsourcing business, with around 289,000 individuals serving customers in a lot more than 120 nations. Combining unparalleled knowledge, thorough capabilities across all industries and business functions, and comprehensive study on the world’;s most profitable firms, Accenture collaborates with clientele to aid them turn into large-efficiency businesses and governments. The firm generated net revenues of US$ 28.6 billion for the fiscal year ended Aug. 31, 2013. Its home web page is www.accenture.com.
Accenture Software program combines deep technologies acumen with sector knowledge to build differentiated computer software products. It delivers progressive application-primarily based answers to allow organizations to meet their organization ambitions and accomplish higher functionality. Its property page is www.accenture.com/application. The Accenture Lifestyle Insurance coverage Platform is component of Accenture Life Insurance Organization Services, a organization services inside Accenture’;s Financial Providers operating group. By applying its substantial industry understanding to constantly improve its computer software, Accenture assists insurers reduce working charges, deal with risk and drive development via enhanced merchandise advancement, enhanced policy administration and distribution, and by means of engineering platform consolidation and modernization. Its home page is www.accenture.com/lifesoftware.
(1) Primarily based on past client deployments of ALIP
(2) Based mostly on previous consumer deployments of ALIP
(3) Based on 2013 benchmark overall performance study of ALIP model 2013.1
Copyright (c) 2014 Accenture. All rights reserved. Accenture, its brand, Accenture Software program, and Higher Performance Delivered are trademarks of Accenture.
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Source: Accenture Copyright Company Wire 2014
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