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Accenture Life Insurance Platform (ALIP) Suite

Accenture Software

Contact: Nancy Bass, Accenture Software Sales and Product Marketing Lead, Address: 5 Spring Street, Murray Hill, NJ, USA, 07974, Phone: 512-732-5155, Email: nancy.bass@accenture.com, Website: www.accenture.com/lifesoftware

Product Description:

Accenture Life and Annuity Offerings

The Accenture Life Insurance Platform (ALIP) provides a complete suite of pre-integrated and configurable software to life insurance and annuity carriers. A trusted software suite used by more than 40 leading life insurance and annuity carriers, Accenture Software's life and annuity software enables insurers to transform their operations across the full policy life cycle. We help insurers get products to market faster and more efficiently, lower client acquisition costs, easily configure products to market needs nad reduce the Total Cost of Ownership.

With the ALIP's robust product and business rules engine, the solution is configurable, scalable and supports straight through processing. Our advanced administration and processing tools maximize the effectiveness of our clients' product designers.

ALIP is offered as one of the only end-to-end solutions in the industry. It can be implemented as a complete suite, however, clients can also purchase licenses to our individual solutions e.g. Illustrations, Electronic Applications, Underwriting, Policy Administration and Payout depending on their needs. The solution integrates easily with existing systems, thereby reducing implementation timelines and cost.

Business Benefits

  • Reduction in Speed to Market: Product and business uers - rather than programmers - configure the products and business processes, thereby reducing product speed to market line.
  • Reduction in Total Cost of Ownership: Achieved through enhanced product testing capabilities, expanded use of automatic testing tools, and a continued shift from code to configuration.
  • Straight Through Processing: ALIP is a highly advanced, configurable, rules-driven system that enables true straight-through processing for life insurance and annuity carriers.
  • Scalability: Our sofware has the proven scalability to meet the needs of major transformational and outsourcing initiatives, yet remain cost-effective for smaller initiatives.

Key Features

  • Centralized Product and Business Rules Engine: Simplifies product definition and reduces product introduction time and cost. It also allows for the rollout of complex insurance products and enhanced business processes.
  • Integrated Testing: Gives users the ability to test products, review interim calculations and confirm product behavior. Standard testing tools are also provided for business processes, pages and rules.
  • Legacy System Replacement: Provides enhanced capabilities to support platform replacement and integration opportunities, through the provision of third party fronting.

Innovations for the Digital Insurer

We offer advanced Digital Insurance innovations to the life insurance and annuity industry along our leading software offering, ALIP. These offerings include Insurance Smart Video, Insurance Web Recording and ALIP Mobility.

Innovations in Digital Insurance provide our clients with avenues to stay in touch with a social media consumer base:

  • Smart Video provides state-of-the-art, personalized communications to consumers who are looking for engagement in forms other than paper
  • Web recording enables audit and complaint resolution, and can be used to further improve user experience for both the consumer and home office users.
  • Mobility provides the flexibility to offer consumers existing functionality via mobile devices through the use of configuration. This means that static development of native mobile applications is not required. The result is a lessened reliance on the software vendor, which enables a greater degree of self-sufficiency. Mobility allows our clients to use existing, browser-based assets and extend them to modern day technology.