Zurich Financial Services Group has selected Accenture Underwriting Components solution to support its property and casualty (P&C) operations.
Zurich intends to leverage Accenture Underwriting Components to support a wide range of business services, including new business submission, clearance and quoting across all lines of its P&C operations.
The insurer will also adopt the Underwriting Components’ data model to further standardize and streamline its data management processes.
Initially, Zurich will deploy the solution in North America and Europe with the license to later expand into other geographies.
Zurich North America chief information officer Tom Peach said that the Accenture Underwriting Components data model and business services are expected to have a positive impact on Zurich’s existing programs and enhance underwriting processes.
Accenture Insurance practice senior executive John Vale said that Leveraging the Accenture Underwriting Components, Zurich will be gaining the benefit of a proven industry software solution known for raising the performance of insurers’ underwriting functions through a more disciplined underwriting process, automation of routine tasks and improved decision-making.