Accenture is named a Leader and Star Performer in the Everest Group Property and Casualty (P&C) Insurance BPS PEAK Matrix® Assessment 2022.
Accenture earned a top spot among 24 providers.
Everest cites Accenture’s SynOps platform as critical to combining capabilities and orchestrating digital journeys.
Delivering a competitive digital edge in insurance services
Accenture is strongly positioned as both a Leader and a Star Performer, for the first time, in the Everest Group Property and Casualty (P&C) Insurance BPS PEAK Matrix, 2022.
Accenture earned a top spot among 24 providers in this annual report. The Everest Group assessed providers by market impact, and vision and capability, which measures strategy, innovation, investments and the ability to deliver services successfully. Everest also names service providers as Star Performers when they demonstrate the strongest forward and upward movement on its PEAK matrix.
This recognition reflects our focus on empowering clients to drive their digital journeys with the urgency, technologies and expertise the market now demands. It speaks to how we deliver value beyond cost savings as insurers look to differentiate themselves and create a competitive edge through more personalized customer experiences and refreshed business models.
Advancing digital journeys
Everest credits Accenture’s momentum in P&C Insurance BPS our combined capabilities across operations, consulting and technology capabilities. They highlight our proprietary SynOps platform as critical to helping clients along on their digital journeys. We believe it is, too. We use it to combine artificial intelligence (AI), advanced analytics and talent so clients can move to digital, data-driven, intelligent operations that are ready for the future. It’s also why we continue adding digital capabilities on top of the more than $300 million we have invested in the platform over the past 3 years.
"We continuously invest in and bring together the critical technologies and talent our clients need as they race to the cloud and digitally transform how they operate."
— LAURIE BROUCEK, Managing Director – Accenture
Core to our efforts is the depth of our talent. In particular, Everest noted how we are further augmenting our service delivery expertise. This includes adding domain experts across complex processes such as underwriting and actuarial, which requires more judgment than other processes. We also established an actuarial Center of Excellence.
We’ve also established an actuarial Center of Excellence, where we help insurers take advantage of data, analytics, AI, machine learning and digital platforms that support customers’ end-to-end digital journeys. For example, we help clients gain unprecedented insights into customers’ lifestyles, build personalized risk scores by tracking customer behavior in real time, crack down on fraud, boost cross- and upselling, and tweak their products to accommodate customer preferences. Ultimately, we help clients create a virtuous cycle: making better use of data and technology to gain a deeper understanding of customers, improve service quality and foster loyalty.
"Our excellent ranking reflects our continued investment in delivering best-in-class actuarial services to our clients on the back of powerful advisory, technology, and operational capabilities".
— Peuli Das, Managing Director – Accenture
A strong global presence
Another distinction is our ability to deliver globally at scale. This report acknowledges how we’ve continued to strengthen our presence in the U.S. market with recent large wins and expanded our stronghold in continental Europe for global insurers, while solidifying our presence in the large carrier segment. We have also expanded our delivery capabilities in Manila and India – all to innovate and serve clients no matter where they are located.
Growing ecosystem partnerships
As the report highlights, Accenture continues to invest in our ecosystem partnerships. We believe growing these relationships is essential to helping our clients move with urgency and instrumental in creating new, relevant services quickly. For example, to expand claims management capabilities, Accenture and Duck Creek Technologies are bringing together all the data related to P&C claims on a single platform to better monitor and manage it. Accenture also has a strategic partnership with Guidewire Software.
Delivering valuable outcomes
We echo the report’s observation that demand is growing in the P&C BPS market. We’re seeing an accelerated push for transformation across the P&C value chain as insurers reimagine their businesses to not only manage costs, but to also meet the changing needs of customers, better compete and prepare for the future.
"We are helping insurers take advantage of digital technologies and our deep expertise globally, at scale, to expand their own offerings and deliver more personalized experiences."
— LAURIE BROUCEK, Managing Director – Accenture
MANAGING DIRECTOR – ACCENTURE OPERATIONS, INSURANCE OPERATIONS OFFERING LEAD
Managing Director – Accenture Operations, Lead Actuarial and Insurance Analytics Center of Excellence