Accenture (NYSE: ACN) has been positioned as a Leader in Gartner’s “Magic Quadrant for Life Insurance Policy Administration Systems, North America*” report for the Accenture Life Insurance and Annuity Platform (ALIP).
According to the report, which evaluated 11 different software vendors on 15 criteria, “As the COVID-19 pandemic has clearly demonstrated, business operating conditions can change dramatically overnight, and life insurance policy administration systems and the infrastructure on which they operate must be scalable, secure and adaptable to change.”
Shay Alon, who leads Accenture’s Life and Annuity Products and Platforms business, said, “The COVID-19 pandemic has caused life insurers to accelerate their digital initiatives, as the industry understands that it must be more agile and responsive to customers during a difficult time. We believe our leadership position reflects our commitment to providing carriers with extensive capabilities, an agile digital insurance platform, cloud security and scalability. We look forward to supporting our clients’ growth through new markets, advanced technology and differentiating capabilities as we continue to invest in ALIP and our growing partner ecosystem.”
Used by leading insurers worldwide, ALIP is a robust, configurable and scalable solution that provides life insurance carriers and annuity providers with advanced capabilities for product development, new business development, underwriting, policy administration, claims and payout. It is available as an on-premise solution and over the cloud as an integrated suite of software with modules that can be implemented individually or as part of a broader migration strategy.
ALIP is part of Accenture Life Insurance Services. Learn more at www.accenture.com/lifeandannuitysoftware.
*Gartner, Inc., “Magic Quadrant for Life Insurance Policy Administration Systems, North America,” Richard Natale, Rajesh Narayan, August 3, 2020. 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 other 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.
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