Accenture has introduced the Accenture Life Insurance Platform, an enhanced version of the former NaviSys policy administration and new-business processing platform featuring new product configuration tools designed to help insurers develop and launch new products.
“One of the greatest challenges life insurers face is how to bring new products to an increasingly competitive marketplace more rapidly and cost-effectively,” says John DelSanto, managing director of Accenture’s Insurance practice in North America. “Our new release provides a sophisticated and flexible set of product configuration tools that can support even the most challenging hybrid product designs without sacrificing system performance or integrity.”
The new product configuration capability leverages Asynchronous and XML (AJAX), a technique for developing interactive Web applications, to allow users to drag and drop new-product rules at any point in the insurance policy administration process. The platform also provides service-oriented architecture capabilities to enable full access to the platform through Web services, to help streamline systems integration, and to allow the orchestration of policies through third-party software tools.
The Accenture Life Insurance Platform is a result of Accenture’s 2006 acquisition of NaviSys, a developer of policy administration and new-business processing technologies for the life insurance industry. The people and technology of the former NaviSys now operate within Accenture’s Financial Services operating group.