Allianz Life Insurance Company of North America (Allianz Life) has deployed Accenture’s life and annuity insurance software suite to support its new business and core policy administration needs for variable annuity products.
The suite, called Accenture Life Insurance Platform, offers product development, new business, underwriting, policy administration and payout solutions for life insurers and annuity carriers.
Allianz Life selected the Accenture Life Insurance Platform to replace its aging system with a more modern platform that better supports customer service and product development.
Commenting on the deployment, Allianz Life enterprise operations senior vice president Jasmine Jirele said that the suite will provide the company with a more modern, flexible operating platform.
"The system embeds industry best practices and helps us stay in front of the market," Jirele added.
Accenture Software for life insurance product line lead Mitchel Ludwig said that insurers must innovate within their product portfolio and move those products to market faster than ever before.
"With the use of the Accenture Life Insurance Platform, Allianz Life can easily address ongoing changes in demand for products, thereby gaining a competitive advantage," Ludwig added.
Allianz Life provides annuities and life insurance products in the US.
