Accenture announces new version of policy administration and rating software
Dec 26, 2012 (Datamonitor via COMTEX) --
Accenture plc, a management consulting, technology services and outsourcing company, has announced the availability of Accenture Duck Creek Policy Administration release 5.1, the latest version of its policy administration and rating software platform and a key component of its Property & Casualty, or P&C, Insurance software suite.
The new release provides functionality aimed at helping insurers improve account management and underwriting efficiencies, combined with features designed to reduce implementation time and cost. New capabilities of the software are intended to help users manage account data for large commercial risk quoting and policy processing; access information with an updated user interface highlighted by a new toolbar; get products to market faster; and streamline the testing process.
The new enhancements provide key support for consolidating and maintaining customer information across multiple lines of business, helping to ensure data quality and consistency. An improved, customizable toolbar enables the user to add, manage and complete their tasks at any stage in the policy administration and rating process, thereby facilitating an optimized workflow.
Updated product templates assist users with regulatory standards compliance up to 90 days ahead of the content effective date, encouraging first-mover status. The templates include high quality country-wide Insurance Services Office (ISO) and National Council on Compensation Insurance (NCCI) bureau content.
Accenture Duck Creek Test Automation Center (TAC) gives users the ability to design reliable automated test scripts for Accenture Duck Creek Policy and Billing installations without the need to learn computer scripting language. TAC also allows test engineers and testers to refine testing focus, resulting in savings in time and costs over projects that employ manual testing.
To accelerate Accenture Duck Creek's global adoption, pre-configured templates for commercial property owner's products are now available for the UK market. These templates, based on Polaris standards and supporting iMarket connectivity, help to enable rapid implementation of commercial property owner's line of business with lower cost and lower risk.
To enable insurers to benefit from additional technologies while reducing implementation time and costs, third-party solutions pre-integrated with Accenture Duck Creek Policy Administration are available as an option. The pre-integrated solutions provide insurers with: accurate and complete location data; increased insight into complex risks; and seamless access to enterprise-wide documents.
Accenture's policy and claims software offers carriers an integrated suite of software with modules that can be implemented individually or as part of a broader migration strategy. The combined software enables insurers of all sizes to benefit from a suite of P&C software to configure products, transact lines of business and process claims.
"Insurance companies are looking for advanced technologies that enable them to respond quickly to shifting market demands," said Michael Jackowski, global managing director, Accenture Software for P&C Insurance. "This release includes a number of application performance enhancements such as improved rating and underwriting rules processing, particularly for high volume scenarios common to top tier insurers."
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