Accenture Life Insurance Platform - Policy Administration & Customer Serv.
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 policy administration and customer service capability within the Accenture Life Insurance Platform software suite allows access to consolidated policy, product and customer information, thereby improving the insurer’s operational efficiencies and customer service ratings. Our software suite provides the following components within this capability:
• Policy Administration
Our policy administration component is designed to improve the insurer’s operational efficiencies. It achieves this by helping to accelerate the launch of new products, enhance innovation of existing ones and improve real-time data accessibility. The policy administration component also aims to increase productivity for customer service representatives. It provides the scalability that life insurers need in order to manage high transaction volumes, reduce costs and simplify the IT platform.
Insurers can align their business processes with their business goals through our flexible rules engine for more effective business process management initiatives.
• Payout Administration
Our payout administration component provides robust payout processing functionality for the retirement market. The system supports variable and fixed payout products, including immediate annuities, structured settlements, settlement options and supplementary contracts. In addition, our software has the functionality to support annuity payment definition, multiple payment streams, advanced payout features, transactions and flexible charges.