Accenture Provides RGA’s Underwriting Guidelines To Life Insurance coverage/Annuity Platform

Accenture (NYSE:ACN) has built-in RGA’s AURA® underwriting guidelines engine into the Accenture Life Insurance coverage and Annuity Platform (ALIP), making ALIP the primary such platform to offer an out-of-the-box choice. In consequence, carriers can implement ALIP quicker and leverage its superior underwriting capabilities extra rapidly.

The combination of AURA with ALIP may also assist insurers enhance enterprise and underwriting profitability by enabling them to course of new enterprise quicker whereas assembly the ’s more and more formidable service-level agreements and value targets.

“Till now, underwriting time and capability constraints have impeded the progress of absolutely underwritten and simplified-issue life insurance coverage merchandise,” mentioned Patti Treis, senior vp and common supervisor, AURA Applied sciences. “ALIP and AURA collectively present an amazing alternative for insurers to considerably scale back the time to issuance and value per coverage.”

With the combination of AURA, ALIP now supplies extra choices for insurers to speed up underwriting automation, scale back handbook intervention and improve underwriting velocity. This highly effective mixture supplies better synergy between industry-standard guidelines (AURA) and the orchestration to course of these guidelines (ALIP). Each methods apply clever automation to free underwriters from routine duties to use their experience on more-complex points.

“Seamless third-party integration is important for carriers to take care of a aggressive benefit,” mentioned Shay Alon, a managing director at Accenture who leads its Life and Annuity Software program follow. “This newest integration is a part of our technique to ship broad out-of-the field ecosystem connectivity. Our strategy targets crucial third-party options, like AURA, to assist our shoppers speed up time to market.”

Utilized by main insurers worldwide, ALIP is a strong, configurable and scalable answer that gives life insurance coverage carriers and annuity suppliers with superior capabilities for product improvement, new enterprise improvement, underwriting, coverage administration, claims and payout. It's obtainable as an on-premise or a cloud-based answer which incorporates an built-in suite of software program with modules designed to be applied individually or as a part of a broader migration technique.

Accenture’s life and annuity software program is a part of Accenture Life Insurance coverage Providers, inside Accenture Monetary Providers. By making use of intensive data to repeatedly improve its software program, Accenture helps insurers scale back working prices, handle threat and drive development by improved product improvement and distribution, enhanced coverage administration and distribution, and know-how platform consolidation and modernization. For extra info, go to: www.accenture.com/lifeandannuitysoftware.

About Accenture
Accenture is a number one world skilled providers firm, offering a broad vary of providers and options in technique, consulting, digital, know-how and operations. Combining unmatched expertise and specialised expertise throughout greater than 40 industries and all enterprise capabilities — underpinned by the world’s largest supply community — Accenture works on the intersection of enterprise and know-how to assist shoppers enhance their efficiency and create sustainable worth for his or her stakeholders. With 469,000 individuals serving shoppers in additional than 120 nations, Accenture drives innovation to enhance the best way the world works and lives. Go to us at www.accenture.com.

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Michael McGinn
Accenture
+1 917 452 9458
[email protected]

Supply: Accenture