Accenture has a track record of helping financial services companies use outsourcing to transform their operations, thereby increasing efficiency and enhancing their ability to achieve true competitive differentiation.
Several factors combine to make Accenture the ideal outsource partner for insurers:
- Impressive track record: Accenture's 3,400 insurance processing resources are helping 51-plus leading insurers achieve high performance through outsourcing. They handle more than 10 million transactions annually, administer more than 2 million policies, and provide pension fund administration to approximately 600,000 members. More than 30 million contracts have been migrated through our unique re-platforming capability, the Accenture Insurance Data Migration Factory.
- Deep industry knowledge: For more than 30 years, Accenture has worked with leading financial services companies to transform their systems and processes. We serve 85% of the top 40 insurance companies worldwide.
- Profound understanding of business processes: We work with the world's leading insurers to help them improve their processes, and we institutionalize this knowledge within the Accenture organization, creating a repository of proven business practices. We have 7,500 business process outsourcing professionals, of whom more than 3,400 are insurance specialists.
- Global network of processing units: We have a network of 26 client-facing processing units strategically located around the globe. By allowing clients to optimize their sourcing strategy through a combination of offshore, onshore and nearshore options, they can provide cost reductions of up to 50 percent by combining economies of scale and process optimization.
- Market-leading software assets: Accenture has a range of proprietary software solutions—such as Accenture Claim Components and Accenture Underwriting Components—that incorporate our extensive experience in insurance. We also have strategic alliances with major software vendors active in insurance, such as SAP and Microsoft. Additionally, the Accenture Life Insurance Platform (formerly NaviSys) offers life insurers an industry-leading processing platform, with a complete range of functions from front-office sales through to back-office administration.
- Specialist insurance processing centers: Accenture has well-established insurance BPO facilities in nine countries. Each provides clients with experienced insurance processing personnel and a one-to-many processing platform. Together they allow insurers to develop a sourcing strategy that can reduce costs by up to 50 percent by combining economies of scale and process optimization.
Client Successes
We work with many leading insurers and pension funds, helping them to capitalize on our resources to improve their business performance.
Generali was able to integrate two acquisitions more speedily, reduce costs and improve customer service--with Accenture's assistance.
Royal & SunAlliance: Business Process Outsourcing
With Accenture's expertise, Cometa, Italy's largest pension fund, met new statutory requirements while providing better processing and improved access to member information.
To find out more about insurance BPO and how it might benefit your organization, please contact us.