Accenture Life Insurance Platform - New Business and Case Management
The Accenture Life Insurance Platform is a fully integrated life insurance software 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.
The Accenture Life Insurance Platform has a new business and case management capability that provides interactive questionnaires for data capture, enhances efficiency by proactively routing assignments, and utilizes an automated decision engine to evaluate underwriting risk analysis.
Our software suite provides the following components within this capability:
A Web-based architecture and integration with a product engine allows producers and agents to provide quotes quickly, anytime and from anywhere. Similarly, access to the business rules engine enables quick, accurate illustrations for life insurance products.
• Electronic Applications
Electronic Applications provides the functionality used in the gathering of application data electronically, and in the generation of completed application forms for signature. For data entry-based processes initiated from the point of sale by the agent, follow-up client interview or home office keying from image, electronic applications utilizes configurable tools to tailor data capture related to the customer’s specific processes.
Through reflexive questioning, workflows, and flexible rules evaluation configured in the product and business rules engine, the system has the ability to validate data quality at input or provide flexibility for proper follow-up. Whether used at the point of sale or for follow-up client interviews, producers or service representatives using ALIP can be guided through the process based on how the customer configures its data collection workflow and processes. The platform can also be configured to allow flexibility during this process to support varying business processes by distribution channel or to rely on data entry off of paper images. Data capture questionnaires, workflows and rules can alternatively be configured to require flexible completion at the front end while using the customer’s rules to confirm proper IGO follow-up after submission (via requirements management features). Appropriate new business forms can be generated and pre-populated based on rules configured to help evaluate product, state, replacement, etc. cases, can serve as the sole method for case creation.
• Life Underwriting
The Web-based underwriting process uses an automated decision engine that can help rapidly and consistently evaluate underwriting risk analysis. The process typically begins during application entry and continues through to policy issue.
Drawing on configurable underwriting guidelines and rules, the platform can react to the consumer’s application responses by asking additional reflexive questions. The platform can then make a series of underwriting decisions, including whether to underwrite immediately, to automatically request additional information (often from external bureaus such as MIB, MVR, ExamOne), or to refer the case to a suitably qualified underwriter.
A consolidated underwriter’s workbench helps maintain all case data in one place (i.e. impairments, requirements, case notes, related applications, reinsurance information, task box items and other essential case data).
Automated interfaces to third-party vendors help to further streamline and automate the underwriting process. This can increase the consistency and speed of underwriting, and frees up experienced personnel to concentrate on more complex cases. This efficiency is allowing some insurers to achieve “jet issue” at the point of sale.
Rules determine if a variable contract meets the needs of the consumer, and routes cases and manages tasks during the new business process when exceptions are identified.
Rules determine if a case is in good order or not, and routes cases and manages tasks during the new business process when exceptions are identified.