Accenture (NYSE: ACN) announced today that Allianz Life Insurance Company of North America (Allianz Life) has gone live on the Accenture Life Insurance Platform, its life and annuity insurance software suite. The new system supports Allianz Life’s new business and core policy administration needs for its variable annuity products.
Allianz Life selected the Accenture Life Insurance Platform to replace its aging system with a more modern platform that better supports customer service and product development. Working closely with the Allianz Life team, Accenture replaced a core system with the new software within an agreed-upon timeline for over 100 users involved in new business and policy administration.
“The Accenture Life Insurance Platform provides Allianz Life with a more modern, flexible operating platform that positions us to meet our future product development and customer service needs,” said Jasmine Jirele, senior vice president enterprise operations at Allianz Life. “As the market moves, our products must change with it. The system embeds industry best practices and helps us stay in front of the market.”
Used by more than 40 leading insurers worldwide, the Accenture Life Insurance Platform is a 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. The solution is available as an integrated suite of software with modules that can be implemented individually or as part of a broader migration strategy.“Insurers must innovate within their product portfolio and move those products to market faster than ever before,” said Mitchel F. Ludwig, product line lead of Accenture Software for life insurance. “In a tight economy, an extra 30 days of robust revenues before imitators rush into the market can be the difference between profitable growth and stagnation. With the use of the Accenture Life Insurance Platform, Allianz Life can easily address ongoing changes in demand for products, thereby gaining a competitive advantage.” About Allianz Life Allianz Life Insurance Company of North America, one of FORTUNE's 100 Best Companies to Work For in 2013, has been keeping its promises since 1896. Today, it carries on that tradition, helping Americans achieve their retirement income and protection goals with a variety of annuities and life insurance products. As a leading provider of fixed index annuities, Allianz Life is part of Allianz SE, a global leader in the financial services industry with 142,000 employees worldwide. More than 78 million private and corporate customers rely on Allianz knowledge, global reach, and capital strength to help them make the most of financial opportunities.