Accenture Insurance BPO: Life and Annuity Policy Services

Accenture Life and Annuity Policy Services bring together an array of proven strategies, processes and technologies to help insurers navigate the turbulent market by reducing costs while improving liquidity and sustaining growth, and ultimately, achieve high performance.

Growth is supported in a number of ways. More efficient and accurate processing leads to greater customer loyalty. Improved agility makes it quicker and easier to launch new products and expand into new markets. And a rationalized, modernized processing platform makes the integration of merged or acquired businesses a lot less painful.

The Accenture Life Insurance Platform (formerly NaviSys) offers insurers a complete range of life policy solutions, from front-line sales to back-office administration. With this solution, we offer North American insurers a BPO service featuring an industry-leading life processing platform.

Life and Annuity Policy Services can provide:

• Support for the policy-owner function for both closed blocks and open books.
• Low-cost global operations combined with world-class processing and call center expertise.
• A mix of exclusive and shared offerings.
• Flexibility—in scale, degree of customization, scope of services and extent of transformation—that helps ensure an ideal-fit solution.

The benefits can include:

• The cost of outsourced functions may be reduced by 40 percent or more.
• Greater financial predictability as a result of a switch to variable pricing.
• Improved cash flow and a reduced need for capital investment in facilities and technology.
• A better, more consistent service to customers and intermediaries.
• The flexibility to handle fluctuations in transaction volumes and changes in the number of policies managed.
• Streamlined operations with enhanced agility and speed-to-market.
• A simplified, rationalized processing environment.

Go to the Insurance BPO home page or view Property and Casualty Policy Claims Services, Pension Services or Collections and Disbursements Services.

Accenture is recognized as a leading BPO service provider, offering an impressive combination of experience, expertise and outsourcing assets:

• Deep industry knowledge: For more than 30 years we have worked with leading insurers, helping them enhance their systems and processes. We serve more than 85 percent of the world’s top 40 insurance companies.
  
  
• An impressive track record: We have approximately 4,500 insurance process specialists helping more than 50 leading insurers achieve high performance through business process outsourcing. They handle more than 10 million transactions annually, administer more than 2 million policies, and provide pension fund administration to some 1 million members.
  
  
• Proven software assets: Our proprietary software solutions capture our extensive experience in insurance processes. Our acquisition of NaviSys allowed us to offer life insurers in North America an industry-leading processing platform with a complete range of functions from front-office sales through to back-office administration. Supporting these assets are our strategic alliances with software vendors such as SAP and Microsoft.
  
  
• Insurance BPO processing centers: We have nine established, specialist insurance BPO facilities located in different countries throughout the world. Each provides clients with experienced insurance processing personnel and a shared, optimized processing platform—and the opportunity to select the optimal combination of onshore, nearshore and offshore sourcing options.
  
  
• A global delivery network: Supporting the insurance processing centers are more than 80,000 outsourcing and IT professionals in 40 cities.
  
  
• Industry recognition: In April 2008 the International Association of Outsourcing Professionals ranked Accenture the world’s leading outsourcing provider across 18 key attributes. We were also rated by InformationWeek as the top outsourcing provider in 2007, and by Fortune as America’s most admired IT services company in 2005, 2006 and 2007.

Related Client Successes

• Groupama: Business Process Outsourcing
  
• Generali: Business Process Outsourcing