Much like other Italian insurers, this leading insurer was experiencing low volume and slow growth, and losing market share in its life insurance business. The insurer recognized that to bounce back, it would need to transform its life insurance business.
Accenture proposed an IT transformation project consisting of outsourcing, platform migration and restructuring support.
The insurer expects to see significant benefits from the IT transformation, including increased innovation through multichannel distribution, new products, quicker time-to-market and reduced IT costs.
The Italian insurance industry faced a slowdown in business volume and premium growth, particularly in life insurance, which affected the insurer’s ability to achieve overall profitability. After losing market share in the life insurance business, this leading insurer recognized that a reorganization of its life business would be necessary to stimulate growth.