Allianz Life Insurance Company of North America has selected Accenture's life insurance policy administration solution to support its annuity business.

Accenture claims that its platform will enable Allianz to enhance its product development capabilities and improve customer service, while being able to efficiently respond to the changing regulatory and business environment.

Allianz Life Enterprise Operations senior vice president Cathy Mahone said, the new system will enable Allianz to continue to put customers first in responding to their evolving needs in a rapidly changing environment. It will allow the insurer to streamline business processes and continue to bring innovative new products to market.

Accenture Software senior executive Mitchel Ludwig said, this initiative will help Allianz Life improve its ability to roll out new products by simplifying product development and will help enhance customer experience through more consistent and efficient processes.