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ALIP Policy Administration

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Overview

Why continue to let a legacy policy administration system (PAS) diminish your bottom line or limit your top line? Modernize. The Accenture Life Insurance & Annuity Platform's (ALIP) speed and automation help lower your per-policy service costs and raise service levels. Let our powerful processing and administration capabilities deliver new levels of operational efficiency with rich functionality and configuration features that accelerate your speed to value and keep you self-sufficient—all while delivering improved customer service and product innovation.

ALIP Policy Administration supports service and administration of the full policy lifecycle from policy issue through final claim or annuity payout.

An end-to-end, scalable and fully integrated platform

Accenture is a leader in the market, helping carriers innovate and grow by applying today’s most modern new business and policy administration capabilities using ALIP and an advanced portfolio of digital solutions with expansive partner network. ALIP’s architecture is designed using containers and microservices for optimal cloud performance and delivery flexibility. And with today’s abundance of data, carriers can rely on Accenture’s Life & Annuity Analytics—the industry’s first standalone business intelligence and predictive analytics solution with out-of-the-box use cases and insights exclusively for life and annuity carriers.

Know with confidence that whether you modernize the full policy lifecycle or a specific component, our software integrates easily with existing systems. ALIP delivers best-in-class capabilities—all available on-premises, in the cloud, hosted, a cutting-edge Platform-as-a-Service model or through BPO— giving you the ultimate in flexibility and choice.

www.accenture.com/lifeandannuitysoftware

Key Features

Enable full in-force processing

  • Claims and payout
  • Cash management
  • Billing
  • Contract management
  • Fund management
  • Transaction management
  • Tax and regulatory
  • Quotes and inquiries
  • Correspondence
  • Accounting

Speed to market via library of prebuilt templates

  • Out-of-the-box-product templates—preconfigured and production tested—accelerate product introduction
  • Preconfigured rules around new product features, riders and benefits easily adapt to your product structure and calculations
  • Preconfigured templates drive efficiency and more effective business process management when managing your policies

Enhance customer service through productivity gains

  • Workbenches available to tailor customer management and contract management
  • Configure and modify business process and quoting pages for your needs
  • Functional access by user type and individual user
  • Approvals, requirements and follow-ups controlled by business rules configuration

Accelerate introduction with product configuration

  • Modern workbench and workflow to create, modify and view products
  • Actuarial calculation engine to support your complex formulas and product tables
  • Robust product, transaction and fund components to allow definition of your specific product needs
  • Product testing debugger and workbench for product mechanics and values testing

Improve operational efficiency with business configuration

  • Modern workbench for designing, visualizing and modifying business rules
  • Easily create web pages without a web developer or programmer
  • Flexible workflow configuration for all your business processes
  • Workbench provides rules testing, monitoring and execution comparison capabilities

Expand your digital footprint

  • Integrated self-service portal
  • Analytics insights and predictive modeling
  • Personalized customer communications
  • Real-time data access

Key Benefits

Operate faster, smarter and easier with a policy administration system that delivers innovative new products without compromising operational efficiency or customer satisfaction – on-premises, cloud or hybrid.

  • Launch more new products faster with one of the largest libraries of production-ready, configurable product templates.
  • Slash operating costs and maximize IT resources with industry-leading tools that automate, configure, test and integrate.
  • Delight customers with consolidated, real-time data that delivers 360-degree customer visibility and integration with powerful portals that deliver personalized experiences.

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