Accenture Signs 10-year Deal with Overseas Life Insurer

Accenture has signed a 10-year contract with general insurer Generali France to manage a portfolio of more than 100,000 individual life insurance policies that Generali France no longer underwrites, markets or promotes. Generali France is a subsidiary of the Generali Group, a life insurer.

Accenture says that the agreement, signed in February 2012, is designed to maintain customer service on behalf of Generali France, while lowering operating costs. Accenture will reengineer the insurer’s policy management processes and increase automation through the newly enhanced Accenture Life Insurance Platform, Accenture’s life and annuity insurance policy administration software. The platform has been adapted to the French individual life insurance market, including the French tax regime.

“To maintain profitable growth, insurers will have to increase customer loyalty and reduce operating costs,” says Daniele Presutti, managing director of Accenture Life Insurance Services. “The agreement will enable Generali France to focus on client relationship and product development, while reducing costs and operational risks and increasing productivity by standardizing and automating its policy management processes.”