Configurable integration software helps insurers save time and costs through reduced need for coding
New York, NY (Aug. 20, 2013) – The Accenture Life Insurance Platform (ALIP) is being enhanced with a new software offering that could help clients reduce implementation costs by up to fifty percent.(1) The integration accelerator enables the Accenture Life Insurance Platform to easily integrate with third party systems so that clients can use all the necessary information to make quick decisions based on market changes.
In order to create customized data reports, many insurers rely on technical, time-consuming coding efforts to update software interfaces and data fields. The integration accelerator replaces the need to create custom code for multiple software systems with configuration that allows for efficient access to data. Additionally, further simplifying the exchange of Accenture Life Insurance Platform data with other IT systems will help insurers save time and resources. The open, standards-based architecture allows real-time data integration with a wide array of internal and third party applications.
“We strive to continuously enhance the Accenture Life Insurance Platform in order to provide our clients with a flexible, efficient solution for faster product rollouts,” said Mitchel F. Ludwig, product line lead of Accenture Software for Life Insurance. “The integration accelerator helps our clients build, manage and support integration through configuration changes rather than start from scratch with new coding, enabling them to take more ownership of their IT systems.”
Insurance service provider Allianz Life Insurance Company of North America implemented the integration accelerator as part of their 2013 Accenture Life Insurance Platform deployment. “We wanted a more efficient way to update the interfaces in our policy administration system,” said Jeff Palm, Allianz Life’s CIO. “Accenture’s integration accelerator gave us easier access to data and a more flexible way to manage data across systems. Going forward we will reduce costs and our delivery schedule by no longer needing to re-design and re-test multiple interfaces every time we want to make a change.”
The Accenture Life Insurance Platform, used by more than 40 leading insurers worldwide, is a robust, configurable and scalable software suite that offers life insurance and annuity carriers of all sizes solutions for product development, new business, underwriting, policy administration and payout. These solutions are available as an integrated suite of software with modules that can be implemented individually or as part of a broader migration strategy.
1. Based on preliminary cost estimates for Accenture ALIP implementations using Integration accelerator.
Accenture is a global management consulting, technology services and outsourcing company, with more than 266,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$27.9 billion for the fiscal year ended Aug. 31, 2012. Its home page is www.accenture.com.
About Accenture Software
Accenture Software combines deep technology acumen with industry knowledge to develop differentiated software products. It offers innovative software-based solutions to enable organizations to meet their business goals and achieve high performance. Its home page is www.accenture.com/software. The Accenture Life Insurance Platform is part of Accenture Life Insurance Business Services, a business service within Accenture’s Financial Services operating group. By applying its extensive industry knowledge to continuously enhance its software, Accenture helps insurers reduce operating costs, manage risk and drive growth through improved product development, enhanced policy administration and distribution, and through technology platform consolidation and modernization. Its home page is www.accenture.com/lifesoftware.
SOURCE: AccentureTags: accelerator, Accenture, Life Insurance, platform