Allianz Life goes live on Accenture Life Insurance Platform

Allianz Life selected the Accenture Life Insurance Platform to replace its aging system with a more modern platform that better supports customer service and product development. Working closely with the Allianz Life team, Accenture replaced a core system with the new software within an agreed-upon timeline for over 100 users involved in new business and policy administration.

"The Accenture Life Insurance Platform provides Allianz Life with a more modern, flexible operating platform that positions us to meet our future product development and customer service needs," said Jasmine Jirele, senior vice president enterprise operations at Allianz Life. "As the market moves, our products must change with it. The system embeds industry best practices and helps us stay in front of the market."

Used by more than 40 leading insurers worldwide, the Accenture Life Insurance Platform is a configurable and scalable software suite that offers life insurance and annuity carriers of all sizes solutions for product development, new business, underwriting, policy administration and payout. The solution is available as an integrated suite of software with modules that can be implemented individually or as part of a broader migration strategy.

"Insurers must innovate within their product portfolio and move those products to market faster than ever before," said Mitchel F. Ludwig, product line lead of Accenture Software for life insurance. "In a tight economy, an extra 30 days of robust revenues before imitators rush into the market can be the difference between profitable growth and stagnation. With the use of the Accenture Life Insurance Platform, Allianz Life can easily address ongoing changes in demand for products, thereby gaining a competitive advantage."