Generali France has entered into a 10 year agreement with Accenture to manage a portfolio of over 100,000 individual life insurance policies, which are no longer underwritten, marketed or promoted by the insurer.
Based on the agreement, Accenture will redesign the insurer’s policy management processes and increase automation through its Life Insurance Platform, helping the underwriter to decrease the operational cost.
The administration platform has been tailored as per the French individual life insurance market, including the French tax system, claims the service provider.
Accenture Life Insurance Services managing director Daniele Presutti said the deal will allow the insurer to focus on client relationship and product development as well as increase productivity by standardizing and automating its policy management processes.
Accenture Life Insurance Services, a business service within Accenture’s Financial Services operating group, serves over 60 life insurance, annuity and pension clients globally.
Generali France, a foreign subsidiary of the Generali Group, operates in more than 65 nations, which generated a total premium income of €69bn in 2011.