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Accenture: Navy Mutual Launches New Life and Annuity Insurance Software
August 23, 2012
By Rob Starr, Content Manager, Big4.com
A new software platform supplied by Accenture supports Navy Mutual’s life and annuity product configuration, new business, underwriting and policy administration processing needs. As part of the project, Accenture converted 138,000 policies from Navy Mutual’s legacy systems using the Accenture Insurance Data Migration Factory, an end-to-end data migration solution. This conversion allows the insurer to handle all new business and service existing policies on a single platform.
Mitchel F. Ludwig, product line lead of Accenture Software for life insurance comments:
“Cost pressures and market uncertainty continue in the life insurance business,”he said. “To compete more effectively, insurers must move new products to market as rapidly and cost-efficiently as possible, but that goal is often compromised by an aging and restrictive technology environment. Navy Mutual’s new platform will enable the association to more easily create products that meet its members’ needs and bring these to market faster.”
Accenture Software combines deep technology acumen with industry knowledge to develop differentiated software products. It offers innovative software-based solutions to enable organizations to meet their business goals and achieve high performance. Its home page is www.accenture.com/software. For Life Insurance software, its home page is www.accenture.com/lifesoftware.