Accenture has rolled out the latest version of its Accenture Life Insurance Platform (ALIP), an advanced life insurance and annuity software suite, enabling insurance providers to launch products to the market more quickly, efficiently and reliably.
Furthermore, the upgraded platform can help insurance providers to slash implementation expenses, enhance product speed to market, improve usability and achieve better performance and scalability.
ALIP has added a variety of life and annuity product enhancements to make for a more robust platform, which support more complex insurance business rules and calculations and allow custom processing through configuration.
Besides helping to automate tasks and mitigate manual processing, the new technology supports ALIP’s ability to reduce IT operations costs by up to 30%.
Other enhancements to the newest version of the Accenture Life Insurance Platform comprise user feedback for improved usability.
Users can manage common tasks including configuring pages and defining and managing business rules through a reduced number of clicks and actions, helping improve efficiency and reduce training efforts.
Accenture life & annuity software managing director Shay Alon said, "We strive to continuously enhance our platform capabilities in order to provide our clients with a flexible, efficient solution that enables faster product introductions.
"These features have been put into use by some of our clients in order to deliver products to market more quickly, at a reduced cost, keeping our clients competitive and their customers happy."