Accenture Life Insurance Platform

Product Description

The Accenture Life Insurance Platform 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 software enables insurers to transform their policy administration operations, lower operating costs and facilitate speed to market.

The Accenture Life Insurance Platform is a fully integrated solution that addresses all of the basic steps in the policy life cycle. Our software can be implemented as a complete solution using the pre integrated systems or as standalone systems such as Illustrations, Electronic Applications, Underwriting, Policy Administration and Payout.

Our life insurance software is a robust, configurable and scalable solution that provides life insurance and annuity carriers the ability to automate operational support across the full policy lifecycle. The solution integrates easily with existing systems, thereby providing true straight-through processing.

Business benefits

• Reduction in Speed to Market:
Product and business users—rather than programmers—configure the products and business processes, thereby reducing product speed to market time.
• Reduction in Total Cost of Ownership:
Achieved through enhanced product testing capabilities, expanded use of automated testing tools, and a continued shift from code to configuration.
• Straight-Through Processing:
The Accenture Life Insurance Platform is a highly advanced, configurable, rules-driven system that enables true straight-through processing for life insurance and annuity carriers.
• Scalability:
Our software 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.