Vendor Analysis
published on Feb 14, 2020
Report Overview:
This NelsonHall vendor assessment analyzes Accenture's offerings and capabilities in transforming Property & Casualty BPS with touchless processing
Who is this Report for:
NelsonHall’s comprehensive assessment of Accenture’s property and casualty (P&C) business process service (BPS) offerings and capabilities is designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for Digital Banking Services RFPs
- Vendor marketing, sales and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
The report comprehensively analyzes the company’s P&C BPS practice:
- Strategy, emphases, and new developments
- Strengths, weaknesses, and outlook
- Target market
- Offerings and associated technology capabilities
- Delivery organization, including locations and partnerships
- Breakouts f P&C BPS specific revenue and delivery resources.
Key Findings & Highlights:
Accenture goes to market in the insurance market under the banner Accenture Intelligent Insurance Operations and offers:
- P&C policy service (new business and underwriting, policy administration)
- P&C claims services (claims lifecycle, with a focus on speed and efficiency).
Accenture has served P&C companies with software, IT services, and BPS for three decades. Accenture has built long-lasting relationships among the top P&C carriers. Of the top 10 carriers, Accenture claims to serve 9; of the top 30 carriers, Accenture claims to serve 27. Accenture reports that it has served 80% of these top 30 P&C clients for 15 years or more. NelsonHall estimates that Accenture works with approximately three dozen P&C carriers in a BPS capacity.
Accenture’s primary focus is to develop relationships with large to very large P&C carriers across its multiple service lines. Accenture effectively leverages the breadth of its diverse industry and service offerings, including BPS.
Accenture has followed this time-honored strategy by expanding strategic relationships with anchor clients and then expanding with those clients into new geographies and industry subsegments. NelsonHall estimates that Accenture serves the majority of its P&C carrier clients with BPS, delivered from Accenture's onshore and offshore delivery network.