Accenture life platform modernization

Accenture provides a customer-centric business model that lets insurers use IT platform innovation and flexibility to outpace competitors.

Overview

Our Accenture Life Insurance & Annuity Platform (ALIP) combines our life insurance experience in a flexible system that is easily customized to your business needs. The platform includes illustrations, eApps, powerful underwriting and rating engines and a complete policy administration system. All products are housed on the single platform, providing a customer-centric view of your business.

ALIP can be easily configured to support advanced analytics that helps identify leads and directs them to the most appropriate channel—agent, call center, online or mobile—to improve sales outcomes.

Insurers can outsource some or all of the new platform development to Accenture, ensuring your service and new business goals remain untouched throughout the development process. When it's time to migrate to the fully configured and tested ALIP platform, the Accenture Insurance Data Migration Factory can populate the new system without undue burden on your workforce or any drop in service levels.

Why Accenture

Accenture has, for the past 30 years, worked closely with many of the world’s leading insurers. We serve 30 of the top 35 insurance companies ranked in the Fortune Global 500. We work with 8 of the top 10 and 24 of the top 30 life insurers.

Our experience, combined with a broad range of skills and tools and a deep knowledge base, equip us to help insurers optimize their life insurance platform.

Based on Accenture research and experience, life platform consolidation offers significant rewards for insurers, including 35 percent faster speed to market, 26 percent lower IT application and infrastructure costs, and 19 percent reduction in operational costs.

Specific services

Accenture provides:

  • The ALIP—our leading, field-tested life and annuity policy administration solution that has been successfully implemented in North America
  • Proven and tested tools and frameworks
  • Better use of IT resources
  • Lower policy acquisition costs
  • A complete service and delivery offering
  • Decades of experience embedded in our delivery methodology, estimating models and program management practices
  • Industrialization of core business processes
  • A component-based approach that minimizes risk and smoothens the path to consolidation
  • Application portfolio optimization

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