Technology services and outsourcing company Accenture has introduced a new version of the Accenture Life Insurance Platform (ALIP).
ALIP is an advanced life insurance and annuity software suite, which allows insurance providers streamline operational processes, increase system scalability and ease integration with other software solutions.
Accenture Software for life and annuity managing director Shay Alon said: "Through continued investments in ALIP, we are providing clients with the most modern architecture available.
"These new features make it easier for insurers to take advantage of out of the box configuration and implementation guidelines, allowing users to get up and running more quickly."
ALIP is a configurable and scalable software suite, which provides all sizes of solutions for life insurance and annuity carriers, including product development, new business, underwriting, policy administration comprising claims and payout.
The solutions are available as an integrated suite or components, which can be implemented individually or as part of a broader migration strategy.
The latest insurance version includes a complete migration to the Java programming language, which helps the users to more easily update and customize the software.
ALIP’s process improvement and system enhancement help carriers to develop and test new insurance products in a rapid manner.
According to Accenture, an integrated reporting and integration framework, a warehouse for reporting and access to a full complement of system Application Programming Interfaces (APIs) help carriers to easily implement and maintain ALIP.
Image: Accenture has unveiled new life insurance and annuity software suite. Photo: courtesy of Vichaya Kiatying-Angsulee/ FreeDigitalPhotos.net.