Accenture’s Life Insurance Platform Recognized in New Report from Gartner®

Rhea-AI Summary

Accenture (NYSE: ACN) has been recognized by Gartner for its Life Insurance & Annuity Platform (ALIP) in their report "Critical Capabilities for Life Insurance Policy Administration Systems, North America." ALIP ranked among the top three vendors in key categories such as Individual/New Business Onboarding and Digital User Support. This recognition highlights Accenture's investments in cloud solutions, automation, and partnerships, enabling clients to enhance agility and accelerate digital transformations, crucial for growth in the evolving insurance landscape.

Positive

• ALIP ranked in the top three for key capabilities by Gartner, indicating strong market position.
• Recognition demonstrates Accenture's successful investments in digital solutions and cloud services.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Accenture (NYSE: ACN) today announced that Gartner, Inc. has recognized the Accenture Life Insurance & Annuity Platform (ALIP) in a new report, titled “Critical Capabilities for Life Insurance Policy Administration Systems, North America.” * ALIP was among the top three vendors in the Individual/New Business Onboarding/Straight-through Processing, New Product Development/Launch and Digital User Support Use Cases.

Accenture Life Insurance & Annuity Platform: A top performing L&A policy admin system (Graphic: Business Wire)

“We believe our investments in Cloud First, automation and ecosystem partnerships are reflected in this recognition from Gartner, as our clients continue to gain agility across the enterprise, as well as greater speed and flexibility to underwrite policies,” said Shay Alon, who leads Accenture’s Life and Annuity Products and Platforms business. “ALIP was instrumental in helping insurers rapidly shift to remote operations during the pandemic and will continue to help to accelerate their digital transformation journeys, positioning them for profitable growth.”

The report’s authors note, “Insurance companies in North America are now entering the third phase of pandemic renewal in which they resume their strategic path toward digital transformation. In this phase, business priorities will shift dramatically as the focus moves from cost-cutting and cost optimization to business renewal.” They go on to explain that “to stay competitive, they must take a more holistic view of the market, assessing long-term changes and opportunities with process, products, data, customer experience (CX) and innovation.”

ALIP is a robust and configurable cloud-native digital insurance platform that offers life insurance carriers and annuity providers advanced capabilities for product development, new-business development, underwriting, policy administration, claims and pay-out, underpinned by data analytics. It is available as an integrated suite of software with modules that can be implemented individually or as part of a broader migration strategy.

Accenture Life Insurance & Annuity Platform (ALIP) is part of Accenture Life Insurance Services. Learn more at www.accenture.com/lifeandannuitysoftware.

*Gartner, Inc., “Critical Capabilities for Life Insurance Policy Administration Systems, North America,” Richard Natale, Rajesh Narayan, August 24, 2021.

Gartner Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 624,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com

Accenture’s Insurance practice helps P&C insurers, life carriers and reinsurers to redefine their business and operating models, enhance the digital experience for customers, and position themselves for growth in a digital economy. To learn more, visit: www.accenture.com/Insurance.

Copyright © 2021 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211014005094/en/

Victoria Ancell

Accenture

+44 7446 277759

v.ancell@accenture.com

Source: Accenture

FAQ

What recognition did Accenture receive from Gartner?

Accenture's Life Insurance & Annuity Platform (ALIP) was recognized as a top performer in Gartner's report on Life Insurance Policy Administration Systems.

What are the key capabilities where ALIP excelled?

ALIP was among the top three vendors in Individual/New Business Onboarding, New Product Development, and Digital User Support.

How does ALIP support digital transformation for insurers?

ALIP helps insurers improve agility and speed in policy underwriting and administration, crucial for adapting to market changes.

What impact does Gartner's recognition have on Accenture's stock (ACN)?

Gartner's recognition can positively influence investor perception and confidence in Accenture's growth potential, impacting stock performance.

When was the Gartner report published that recognized Accenture?

The report titled 'Critical Capabilities for Life Insurance Policy Administration Systems, North America' was published on August 24, 2021.