New software supports seven property and casualty lines of business, increasing speed of product development and deployment
NEW YORK; Jan. 12, 2015 – Accenture (NYSE: ACN) announced that Accenture Duck Creek Policy is now in production at global insurer Zurich, supporting its general insurance business in the United Kingdom. The new system will enable Zurich to streamline processes and deploy insurance products faster, assisting the insurer’s efforts to more efficiently manage its business as it continues to expand its offering within the small and medium enterprise (SME) insurance marketplace. Duck Creek Policy is powering ZTrade, a new trading platform that delivers new products, pricing and self-service all from one place. Details about Zurich’s ZTrade platform can be viewed at http://www.tradeupwithztrade.co.uk/about-ztrade.php.
Accenture Duck Creek Policy supports the complete policy lifecycle for seven of Zurich’s lines of business with additional lines to be added over the coming months. Implementation of the software was managed by Syntel, a strategic delivery partner for Accenture Duck Creek software.
“We needed a system that would help us differentiate our insurance proposition in the market and Accenture Duck Creek had the best product definition and rating engine,” Adam Warwick, Director Business Change and IT at Zurich UK General Insurance. “With this software, we have used the ability to configure the platform to deliver unique features of our own design, which is a significant benefit and will help us to continue to provide better customer service as we grow our SME business.”
“Zurich is focused on expanding its presence and our software offers the flexibility and scalability to meet their business demands now and in the future,” said Michael A. Jackowski, global managing director of Accenture Duck Creek. “It is designed to provide the rapid response needed to develop and deploy products and to define workflows that will improve operational efficiency and the sales distribution channel.”
Accenture Duck Creek Policy is one of the core components in the suite of software that also includes rating, billing, and claims solutions. Each component can be implemented independently or combined for an integrated approach to manage all aspects of the P&C insurance lifecycle.
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With more than 55,000 employees, it provides a wide range of general insurance and life insurance products and services. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.
*Zurich’s UK Life business is operated primarily through two entities: Zurich Assurance Ltd and Sterling ISA Managers Ltd. Zurich Assurance Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Sterling ISA Managers Limited is authorised and regulated by the Financial Conduct Authority.
Accenture is a global management consulting, technology services and outsourcing company, with approximately 319,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home page is www.accenture.com.
Accenture Duck Creek is a software suite offering comprehensive, full-featured property & casualty insurance software and SaaS solutions. Its configurable solutions are designed to work as a full end-to-end suite or as individual standalone components that adapt quickly and seamlessly to handle the unique needs of insurers of all sizes. Duck Creek software enables carriers to make better decisions in a real-time environment, streamline operations and improve their level of customer service. For more information, visit www.duckcreek.com.