Professional services company updates life insurance and annuity platform

Professional services company updates life insurance and annuity platform

Professional services company updates life insurance and annuity platform Accenture has recently released an updated version of the New Business and Underwriting component of its Accenture Life Insurance & Annuity Platform (ALIP). The update “enhances productivity levels for underwriters and case managers through a new workbench that streamlines navigation and centralizes information,” a release said.

The update was designed in collaboration with Accenture’s insurance and financial clients.

ALIP is a “robust, configurable and scalable” solution that offers life insurance carriers and annuity providers with advanced utilities for product development, new business development, underwriting, policy administration, claims and payout.

A release mentioned that the new workbench presents a single, convenient management tool and view of policies for both underwriters and case managers. Simplified application templates and process flows allow users to accelerate work flows, and automated ordering, approval and referral management reduces manual intervention. Expanded decision management support is also a new feature for the platform, with an auto-populated dashboard of “out of bounds” issues that alerts underwriters when intervention and evaluation is required.

“Having our customers engaged throughout the design and development process has allowed us to create practical and user-friendly capabilities that will help users become faster and more efficient,” said Accenture product line lead for Life & Annuity Software Mitch Ludwig. “The improvements to our new business underwriting and case manager component is another example of how we continue to invest and deliver smart solutions that meet our customers’ needs.”
 
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