Accenture has been named a leader in automated life insurance underwriting systems in a new report from independent research firm Forrester.
In the report — “The Forrester Wave™: Automated Life Insurance Underwriting Systems, Q4 2019” — Accenture was named a leader based on the current offering and strategy of its product, Accenture Life Insurance & Annuity Platform (ALIP).
The report evaluated 13 companies, with rankings based on scores across 27 criteria. Accenture received the highest possible score for Past Performance, Partner Ecosystem, User Interface, and Data Visualization and Reporting.
According to the report, “ALIP is a strong choice for tier-1 North American life insurers looking to leverage Accenture’s trademark balance of technical and business acumen.”
Shay Alon, Accenture’s Life and Annuity Products and Platforms business lead, said, “We believe our position as a leader speaks to our continued investment in people, technology and partnerships that help our clients deliver value and positive business results. While the life insurance industry embarks on new ways to engage consumers and simplify processes, we focus on helping insurers automate underwriting and provide their customers with a comprehensive digital experience. It is a journey, and we are honored to be recognized by Forrester.”
Used by leading insurers worldwide, ALIP is a robust, configurable and scalable solution that provides life insurance carriers and annuity providers with advanced capabilities for product development, new-business development, underwriting, policy administration, claims and payout. It is available as an on-premise solution and over the cloud as an integrated suite of software with modules that can be implemented individually or as part of a broader migration strategy.
Accenture’s life and annuity software is part of Accenture Life Insurance Services. By applying extensive industry knowledge to continuously enhance its software, Accenture helps insurers reduce operating costs, manage risk and drive growth through improved product development and distribution, enhanced policy administration and distribution, and technology platform consolidation and modernization.