Accenture has signed an 8-year business process outsourcing (BPO) contract with BNP Paribas Cardif to manage an important portfolio of BNP Paribas Cardif's group life insurance policies business in France.
The consulting and information technology (IT) services firm will manage the administrative management of the insurer’s call centers and ancillary accounting operations.
The agreement is intended to enhance the quality and efficiency of services BNP Paribas Cardif is providing to its clients, leveraging an IT platform that benefits from Accenture’s expertise and competencies.
Designed to become an industry standard, the platform will support BNP Paribas Cardif’s growth agenda and reinforce its market position in the group life insurance business.
Accenture’s Financial Services group executive director Didier Descombes said in today’s economy, leading insurers are increasingly looking to streamline their operations to create new business opportunities.
"Our objective is to provide high-quality and cost-competitive services, and support insurers in their business strategy in France and globally," Descombes said.
Accenture Life Insurance Services managing director Daniele Presutti said the life insurance industry is undergoing fundamental change, driven by increased regulation and risk management pressure and more volatile markets.
"This provides an opportunity for some insurers to gain market share. Outsourcing can help them strengthen capabilities to reach their objectives," Presutti said.