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High-performance insurers take advantage of outsourcing as a strategic, quick, safe, dependable and efficient way to strengthen their operational capability in support of their business vision.
Accenture is considered the world’s leading insurance BPO provider, with a solid reputation for our ability to take over an insurer’s non-core functions quickly, efficiently and cost effectively – while simultaneously improving service levels.
Life Insurance BPO leverages Accenture’s deep understanding of the insurance industry to streamline operational processes and achieve critical mass across every aspect of an insurance transaction. Using a combination of onshore, near-shore and offshore resources, Life Insurance BPO creates a seamless network of human capital that responds to each situation with the most appropriate level of experience and quality of service.
This environment allows insurers to move from fixed costing to a variable model that scales infinitely, allowing for more efficient labor arbitrage.
Management is freed up to focus on strategy, product development, marketing and sales activities, with the confidence of knowing that operational and regulatory requirements and service levels remain aligned with the company’s promise to its channel partners and customers.
Accenture is the world’s preeminent insurance outsourcing service provider, which, among other accolades, is ranked number one on the International Association of Outsourcing 100. Accenture provides a complete portfolio of BPO services that help ensure tight integration across the entire enterprise. This portfolio includes sophisticated business consulting expertise and methodologies, IT system integration and application outsourcing services. Accenture’s unique Insurance Data Migration Factory works with carriers to transfer client and policy data onto new technology platforms accurately, efficiently and without any drop in service levels.
With more than 4,500 insurance specialists in nine countries working with more than 50 carriers, Accenture BPO centers handle more than 10 million transactions annually and administer in excess of 2 million policies.
Benefits to clients to date have included:
Improved customer and intermediary service levels
Policy management error costs reduced by 30 percent
Expenses reduced by 30-50 percent of the costs of their outsourced business services
A switch from variable costing to fixed variable costing
Reduced capital investment
Accelerated speed-to-market with up to a 75 percent reduction in new product development costs
In addition, insurers that used BPO to consolidate and modernize their processing platforms reported cost and speed-to-market benefits that were, on average, 17 percentage points greater than those that did not outsource any of their processing.
Insurance BPO: Services Overview - In today’s economy, leading insurers increasingly outsource business processes to Accenture to help them to streamline and simplify their operations.
Insurance BPO: Collections and Disbursements Services - Accenture Collections and Disbursements Services can help transform a common problem area into a source of competitive advantage.
Insurance BPO: Life and Annuity Policy Services - Accenture Life and Annuity Policy Services offers insurers a complete range of life policy solutions, from front-line sales to back-office administration.
Insurance BPO: Pension Services - Accenture Pension Services has built a base of more than 1 million members. We work directly with the HR departments of some 75,000 employers in 15 different industries.
Cometa: Insurance BPO Services - Accenture Insurance BPO Services helps Cometa achieve high performance through cost reduction and superior customer service.
Manulife Japan: Application Management - Manulife Life Insurance Co. sells and services a variety of life insurance and annuity products for customers throughout Japan.
Generali: Insurance BPO Services - By outsourcing to Accenture Insurance Business Process Outsourcing Services, Generali was able to integrate two acquisitions more speedily
US Insurance Company: Application Outsourcing - Accenture’s innovative approach to outsourcing enables high performance and value for outsourcing clients.
Sun Life Financial: Application Outsourcing - Accenture helps Sun Life Financial with new levels of insurance business efficiency, including reduced costs and access to a global workforce through outsourcing.
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