Strategic vision combined with end-to-end insurance services
Accenture is named a Leader and a Star Performer for the first time in the Everest Group Life and Pensions (L&P) Insurance BPS/TPA Peak Matrix Assessment 2022.
This annual report assesses 20 providers by vision and capability, which includes strategy, innovation, investments and the ability to deliver services successfully. It also measures market impact, which includes market adoption, portfolio mix and value delivered. Star Performers are the service providers Everest feels demonstrated the strongest forward and upward movement on its PEAK matrix.
Building strong momentum
The Everest Group highlights Accenture’s strong growth trajectory in L&P insurance BPS as the result of strategic new wins the firm gained by bringing together consulting, digital and operations capabilities on its proprietary SynOps platform. The report also notes that Accenture is achieving significant traction in the North American market.
This recognition is reflective of the significant growth and momentum we have achieved in Insurance BPS.
The report recognizes several capability advancements that distinguish Accenture. They include its SynOps platform and continued investment in self-service technology and analytics to track agents’ performance. In addition, acquisitions that also expand differentiated capabilities include several strategic data consultancies that offer AI-powered insights for data-driven decision-making, B2B sales interactions, and regulatory technology services and solutions.
Excellence, expertise and experience
The report acknowledges Accenture’s ability to deliver holistic services in insurance and takes seriously the firm’s intent to deeply cover the full value chain. As examples, the firm has established an actuarial Center of Excellence and expanded its talent base of underwriters.
According to the report, strong areas of experience also include Accenture’s group benefits in the United States and pensions in continental Europe, where Accenture also differentiates itself with proprietary policy administration platforms for comprehensive servicing.
Delivering 360° Value
Accenture is also recognized for its range of proprietary and partner solutions to help clients drive their digital agendas. This includes organic innovation as well as partnerships with companies such as Celonis, a market-leading process mining and execution management solution that works in the cloud.
“We are focused on delivering 360° value that goes beyond cost savings to help clients reinvent how they work and serve customers in an AI-enabled, digital world,” Broucek said.