Accenture (NYSE: ACN) has signed a ten-year contract with Generali France, the second largest general insurer in France, to manage a portfolio of more than 100,000 individual life insurance policies that Generali France no longer underwrites, markets or promotes. Generali France is one of the main foreign subsidiaries of the Generali Group, Europe’s largest life insurer.
The agreement, signed in February 2012, is designed to maintain superior customer service on behalf of Generali France while lowering operating cost. Accenture will reengineer the insurer’s policy management processes and increase automation through the newly enhanced Accenture Life Insurance Platform, Accenture’s industry-leading life and annuity insurance policy administration software, resulting in enhanced levels of service and greater productivity. The platform has been adapted to the French individual life insurance market, including the French tax regime.
“To maintain profitable growth, insurers will have to increase customer loyalty and reduce operating costs,” said Daniele Presutti, managing director of Accenture Life Insurance Services. “The agreement will enable Generali France to focus on client relationship and product development while reducing costs and operational risks and increasing productivity by standardizing and automating its policy management processes.”
“We are pleased to have Generali using the Accenture Life Insurance Platform to manage individual life insurance policies,” said Francois Metzler, head of Accenture Software for life insurance in Europe, Africa and Latin America. “The agreement demonstrates that our investment in enhancing our life software platform to meet the needs of the French individual life insurance market is paying off. We have high expectations for growing our business in France and look forward to delivering software solutions to other French companies in the future.”
Accenture Life Insurance Services, a business service within Accenture’s Financial Services operating group, serves more than 60 life insurance, annuity and pension clients worldwide.
The Accenture Life Insurance Platform, used by more than 40 leading insurers worldwide, is a robust, configurable and scalable software platform that offers life insurance and annuity carriers of all sizes with the ability to automate operational support across the full policy lifecycle. The platform can be implemented out-of-the-box with limited integration efforts or leveraged for more significant transformation projects.
About Generali France
Generali France is one of the most important foreign subsidiaries of the Generali Group, the third largest European insurer, present in more than 65 countries and which generated a total premium income of 69 billion euros in 2011. Operating in the French market since 1832, Generali France is today the second largest general insurer in the country. The company operates in all branches of insurance both through its nearly 7,000 employees and also through diversified distribution networks (salaried consultants, general agents, brokers, self-employed finance managers, major banking partners, and the Internet). More information is available at www.generali.fr.
Accenture is a global management consulting, technology services and outsourcing company, with 257,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$27.9 billion for the fiscal year ended Aug. 31, 2012. Its home page is www.accenture.com.
Accenture Software combines deep technology acumen with industry knowledge to develop differentiated software products. It offers innovative software-based solutions to enable organizations to meet their business goals and achieve high performance. Its home page is www.accenture.com/software. For Life Insurance software, its home page is www.accenture.com/lifesoftware.