Policy Services

We have assisted many P&C carriers to transform their product development, policy and underwriting functions. Data and software are being used more effectively to enhance underwriting and marketing. Products, services and distribution channels are being shaped to provide a differentiated value proposition.

With our recent acquisition of Duck Creek, Accenture offers one of the most modern, complete and flexible P&C insurance software suites on the market. These specialized assets are combined with our insurance knowledge, skills and business services, to help insurers industrialize their processes and execute their business strategies with rigorous efficiency. And across the enterprise, capabilities are being enhanced and refined.

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Accenture has helped many of the world’s leading carriers transform their product, policy, billing and underwriting functions. Our insurance practice is built on more than 30 years of experience helping insurance companies achieve exceptional results. Eight of the top 10 global P&C / general insurers have worked with Accenture to begin or advance their journey to high performance.

We help enable greater certainty of outcomes by selling on the basis of quantified, predictable business value and by sharing risk with our clients. Our pricing and implementation timelines are simple and transparent, and offer a variety of different delivery options to meet our clients’ needs.

Among the benefits which our clients have received are:

• Superior service driven by relevant and personal customer interactions.
• Lower product / policy processing costs (25 to 40 percent).
• Increased speed to market (up to 50 percent).
• Reduced new business cycle times (up to 30 percent).
• Smart pricing that improves financial predictability.
• Rationalization of legacy product sets.
• A superior level of automation in policy submission / endorsements / renewals (over 90 percent overall).

Accenture Policy Services include:

• Accenture Duck Creek insurance software, which provides insurers with a suite of industry-leading software modules that includes a modern, innovative platform that is flexible and easy to implement. The solution offers a multi-channel, multi-language policy administration capability, and important features such as a robust ratings engine and deep ISO-based workers compensation content for the North American market.

  The scalable platform provides a logical operating model for P&C carriers, including definition of some 1,500 key capabilities to support benchmarking of insurers’ operations, while also delivering diagnostic and process excellence tools and models. It is closely integrated with Accenture Claim Components, providing one of the most comprehensive P&C software offerings on the market.

• Accenture Claims Components is an award winning claims solution that is currently being used by more than 65,000 claims professionals in 25 countries and has been used to settle more than 45 million claims.

  The platform is supported with Accenture’s deep industry knowledge that combines a set of specialty skills, patented tools, intellectual property, industry-leading processes and the technology required to help insurers maximize the business opportunities in product development, policy administration and underwriting.

• Business process outsourcing. Accenture maintains a network of BPO centers with some 4,500 dedicated insurance professionals who provide P&C sales, policy administration and policy processing services in nine countries for more than 55 insurance clients.

• Application and technology infrastructure outsourcing services are delivered from our network of more than 50 delivery centers across the globe.

• The Insurance Data Migration Factory has a singular purpose; to efficiently and accurately transfer client and policy information to a new insurance platform. With more than 70 technical and functional areas of specialization, the factory has successfully migrated more than 45 million client policies, across all lines of business.

Auto Owners Selects Accenture Duck Creek After Two-Week Challenge and Successful Proof-Of-Concept - Needing to replace an older mainframe system Auto Owners turned to Accenture Duck Creek.

AmFed Selects Accenture Duck Creek Policy Software - AmFed’s expanding role as carrier, managing general agent and third-party administrator demanded a solution that could handle all of its processing needs, while enabling faster speed-to-market of new P&C products.

RSA: Accenture Insurance Solution - Accenture Insurance Solution (AIS) implementation supports RSA in driving forward product and process rationalization.

Accenture Technology Vision 2011 - Ongoing Accenture research has identified the key technology trends enabling high performance in insurance.

Accenture Product Factory: Insurance Software for Product Innovation - Accenture Product Factory helps insurers achieve high performance in product development by cost-effectively improving the time to market for new products and enhancements.

Security Benefit: Policy Administration - Accenture helped Security Benefit overhaul its policy administrative system, moving the insurance company onto the Accenture Life Insurance Platform.

Sourcing and Procurement Services for the Insurance Industry - Recognizing the risk and the high cost of inefficient, poorly regulated procurement, most insurers have undertaken initiatives aimed at improving their sourcing.

American Safety Goes Live with New Insurance Processing System Using Accenture Duck Creek Software - Accenture announced today that American Safety is now in production and processing casualty risk policies, using the Accenture Duck Creek software platform.

Transforming the Insurance Workforce to Achieve High Performance - As the insurance industry enters a soft market, insurers must transform their workforces to meet the challenges and achieve high performance.

Strategic Cost Reduction in Insurance - Current economic conditions, combined with market forces including liberalization that have gained momentum in the Indian insurance industry over the past few years, have caused cost reduction to become a top strategic business priority.

Industry Focus: Sensor Telemetry in the Insurance Industry - What if sensors on a factory floor could monitor the sprinkler system, schedule maintenance before a breakdown occurs and alert the fire department in the case of an emergency?

Achieving High Performance through Underwriting: It's Time to Move Beyond Status Quo - Accenture polled members of the CPCU Society’s underwriting and personal lines interest groups to measure how technology has helped underwriters.

High Performance Insurance Software Solutions Podcast - In this podcast, Accenture Director Gilles Biscay gives his view on the implications of the current economy for the insurance industry and how software solutions can play a key role in helping insurers address today’s challenges.

Accenture Survey 2009: Insurance Underwriters - Accenture polled members of the CPCU Society’s underwriting and personal lines interest groups to measure how technology has helped underwriters perform more efficiently and more effectively, and to explore new issues and trends faced by underwriters.