Accenture has released a new version of the Accenture Life Insurance Platform (ALIP), running on the Microsoft Azure cloud platform.
An advanced life and annuity software suite, ALIP delivers accelerated product introduction and advanced processing, from new business and policy administration to payout and claims.
With the new ‘ALIP in the Cloud’ suite of solutions, the full production ALIP system is combined with Microsoft Azure as its the technology infrastructure. A private network model is also introduced to help support hybrid and private cloud deployment options.
Clients can also capitalise on Accenture’s cloud infrastructure outsourcing (IO) and application outsourcing (AO) with an ‘as-a-service’ option. Carriers can easily scale up or down to help cost effectively manage peak demand or test new products. Those who opt to use AO will also benefit by allowing IT resources to shift their focus to strategic business initiatives and will be able to leverage services that will ensure their investment remains current with release upgrades.
“Working with Microsoft to offer ALIP’s full capabilities in the cloud is a strategic move for Accenture, emphasising our 'Cloud First' agenda,” said Shay Alon, managing director of Life and Annuity Software at Accenture. “It allows us to offer carriers a way to lower costs and simplify their IT environment while providing them the ability to still maintain their unique product and service differentiation with the highly configurable and robust features of ALIP.”
“We’ve successfully worked with Accenture for many years to help deliver solutions across the front, middle and back offices of the insurance industry,” said Tony Jacob, managing director, worldwide insurance at Microsoft. “But delivering a life insurance policy administration system in the cloud is really extraordinary. Enabling carriers to leverage ALIP on Azure, either as an augmentation strategy or full replacement to on-premises systems, will deliver all new levels of business agility to the life insurance business. I think across the insurance market, we’re starting to see the future of insurance core systems.”
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