Accenture, a management consulting, technology services and outsourcing company, has released a new version of the Accenture Life Insurance Platform, a life insurance and annuity software suite. New capabilities can help insurers reduce implementation costs, increase product speed to market and achieve scalability.
Accenture Life Insurance Platform (ALIP) enables insurers to review and improve their customer service processes, automate tasks and mitigate manual processing, said Accenture. The gains in efficiency support ALIP’s ability to reduce IT operations costs by up to thirty percent.
The platform includes improved usability via a phased re-design and modernization of the interface, which incorporates user feedback for improved usability, Accenture said. It also includes product templates based on industry best practices, allowing companies to introduce products more quickly; and performance and testing benchmarks, which demonstrate increased scalability. This helps insurers to minimize system costs as their businesses grow.
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