Norwegian financial services group DnB NOR has signed a five-year application outsourcing agreement with Accenture to develop, implement and manage a range of applications that support the company’s life and pension insurance operations in Norway.

Under the terms of the agreement, Accenture will support new and existing applications that manage DnB NOR’s defined-contribution pension plans business, including policy administration applications.

Martin Fuhr Bolstad, a senior executive in Accenture’s Financial Services group, said that by outsourcing its application development and management to Accenture, DnB NOR can be even more focused on addressing its customers’ needs and more cost-effectively managing their defined-contribution plans.

“Accenture and DnB NOR have been working together for more than 15 years and we look forward to continuing to help DnB NOR strengthen its position as a leader in the Norway life and pension market,” Bolstad said.