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Accenture Life Insurance & Annuity Platform Achieves “Luminary” Status And Wins Two XCelent Awards

Celent recognizes ALIP with top honors for its technology and functionality

Accenture has received two XCelent awards for its life insurance and annuity platform from research and advisory firm Celent.

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The Celent report, titled “Policy Administration Systems: North American Individual Life Insurance Edition,” recognizes the Accenture Life Insurance & Annuity Platform (ALIP) as one of the highest-rated solutions among 11 policy administration systems in both the “Advanced Technology” and “Breadth of Functionality” categories. Additionally, ALIP’s high scores placed it in the “Luminary” category, Celent’s top rank within its new Technical Capability Matrix.

ALIP is a robust and configurable cloud-native digital insurance platform underpinned by data analytics. It offers life insurance carriers and annuity providers advanced capabilities for product development, new-business development, underwriting, policy administration, claims and pay-out. It is available as an integrated suite of software with modules that can be implemented individually or as part of a broader migration strategy.

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Keith Raymond, a senior analyst in Celent’s North American insurance practice, said, “ALIP continues to be one of the leaders in the market and is a fully functional end-to-end solution for policy administration. Accenture’s future roadmap shows continued investment in technology and additional business functions. Each release of our report shows their steady investment in the product suite.”

Shay Alon, who leads Accenture’s Life and Annuity Products and Platforms business, said, “We believe this recognition, particularly as a Luminary, is a reflection of Accenture’s investments in helping organizations across all industries accelerate their digital transformations. Amid ever-increasing consumer expectations, our insurance clients are leveraging ALIP’s technology to drive better business results and improve customer experiences.”

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[To share your insights with us, please write to sghosh@martechseries.com]

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