ANNUITIES

Everest Group Names Accenture a Leader for Application and Digital Services in Life & Annuities Insurance

Accenture | January 06, 2021

Everest Group Names Accenture a Leader for Application and Digital Services in Life & Annuities Insurance
Accenture has been named a Leader and Star Performer for application and digital services in the global life and annuities (L&A) insurance sector in another report from industry analyst firm Everest Group.

Everest Group analyzed the vision, capability and market impact of 21 leading IT application and digital service providers for the L&A Insurance Application and Digital Services PEAK Matrix® 2021 report.

Accenture is positioned as a Leader and Star Performer for Market Impact, which assesses service providers against criteria, for example, market adoption, portfolio blend and value to clients; and for Vision and Capability, which includes measures, for example, strategy, service scope, innovation and investments, and delivery.

“We’re thrilled to be recognized for our leading capabilities in helping insurers embrace change and compete with the latest technologies and digital experiences,” said Steve Murphy, a senior managing director at Accenture and global technology lead for its Insurance industry group. “The pandemic has only accelerated the need for convenient and personalized digital services from life and annuity providers. We’re continuing to help insurers modernize their legacy technology systems with cloud-centric business models and reimagine the customer experience with analytics.”

Service providers are positioned on Everest Group's PEAK Matrix®, which measures their vision, capability and market impact. The report and PEAK Matrix assessment furnish organizations with a framework to measure the relative market impact and capabilities of service providers around the world.

About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 514,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities.

Spotlight

Our roots began in translation but what we do today goes well beyond – from content creation to linguistics, to artificial intelligence (AI). We create global relevance, driven by humanity and amplified by technology. Connecting our customers with their communities and driving brand awareness.

Related News

INSURANCE TECHNOLOGY

Chintai has Partnered with DeFi Insurance Provider iTrust

Chintai | August 13, 2021

Chintai, a Singapore-based SaaS company that leads in compliant blockchain technology for capital markets, has partnered with iTrust, a decentralized finance insurance protocol. iTrust will provide insurance coverage for deposits, smart contracts, and impermanent loss protection for liquidity providers on the Chintai network, creating a more dependable ecosystem for all users. The partnership solidified ahead of Chintai's private institutional beta release, which gives financial institutions a no-cost opportunity to test compliant digital asset issuance and secondary trading for traditional assets such as equities, bonds, real estate, and debt. Multiple institutional participants have joined the beta by testing the tokenization of traditional assets on the platform, including investing leaders such as Collective Capital, Chimera Wealth, B1, and Cryptology Asset Group. iTrust will work to provide syndicated cover on the Chintai network. But what sets iTrust apart is their ability to both provide 'reinsurance' while maximizing the staking benefits for decentralized finance products such as Nexus Mutual, InsurAce, and others. In an industry that lacks insurance for crypto assets, iTrust is playing an important role for companies like Chintai, which aims to provide an easy-to-use bridge that allows traditional financial institutions to easily port regulated assets to a fully compliant blockchain environment. "Chintai is an industry leader in providing much-needed professional, regulatory compliant services and platforms to the financial services sector. We are extremely excited to work with Chintai to source and supply syndicated cover to protect its users," said Robert Cooke, Co-Founder & Director of Partnerships for iTrust. "iTrust fills a gap in the blockchain industry which will enable traditional financial institutions to work with the same industry standards in regards to risk management," said David Packham, CEO of Chintai. "We are delighted to work with iTrust to revolutionize capital markets with our compliant digital asset technology". The Chintai institutional beta program provides financial institutions with a comprehensive digital asset product suite for compliant issuance, secondary trading, algorithmic market making, and custody. Participants will trial the platform with no up-front cost, which enables experimentation and customizations to suit their specific needs. About Chintai Chintai is a Singapore-based company with offices in Germany that uses blockchain technology to modernize capital markets for asset managers, banks, and enterprises. Our core product suite streamlines the life cycle of regulated assets by automating compliance, reporting, data reconciliation, cap table management, corporate actions, liquidity, and more. The technology can be white-labeled to allow anyone to become their own regulated issuer and market operator. Chintai is currently accepting clients into our pilot program for tokenized real estate, funds, debt, and other financial instruments.

Read More

CORE INSURANCE

Betterfly and Chubb Announce Alliance to Offer Wellbeing, Insurance, and Social Impact Solutions across Latin America

Betterfly | December 06, 2021

Chubb, the world's largest publicly traded property and casualty insurer, announced its most recent digital alliance with Betterfly, a Latin America digital benefits platform used by companies to encourage employees' commitments to self-care. The platform rewards healthy habits with charitable donations and life insurance protection that grows at no cost based on lifestyle choices that foster physical, mental, and financial wellbeing. Betterfly has developed a unique embedded insurance B2B2C model and has chosen Chubb as its preferred insurance provider for Mexico, Colombia, Ecuador, Chile, and Argentina. Chubb will make Betterfly's membership and benefits platform available to its consumer line insureds in these countries through existing distribution channels. The integration of Chubb's digital insurance into the Betterfly ecosystem uses the capabilities of Chubb Studio, Chubb's global digital product distribution platform. "We are thrilled to start working together with Chubb to bring our Betterfly Effect to every corner of Latin America. This alliance combines Chubb's global expertise in risk management, data analytics, and superior claims service with our AI-based customer behavioral science to complement our prevention, protection, and purpose solutions. This is a huge step towards scaling our platform throughout the region and to our vision of protecting the future of 100 million people by 2025," - Eduardo della Maggiora, Founder and CEO of Betterfly. "We are excited by this new digital alliance. Betterfly's wellbeing platform will convert good habits into tangible benefits, combining social purpose with financial protection, I am pleased to join efforts with Betterfly for a healthier Latin America and to provide greater access to insurance protection for people, families, and businesses." - Marcos Gunn, Senior Vice President, Chubb Group and Regional President, Latin America. Most people in Latin America do not have life insurance coverage. According to a Swiss Re Institute's Report from October 2020, the region had an estimated total mortality protection gap of US$14 trillion. Betterfly is making it easier and more affordable for individuals and companies in Latin America to access financial, insurance, and lifestyle benefits. Integrated with apps like Google Fit, Apple Health, and Strava, the platform tracks members' activities and rewards healthy habits, such as walking, exercising, sleeping, and meditation, with "Better Coins" that can be exchanged for charitable donations, lifestyle rewards, and increased life insurance coverage. Chubb's technology, analytics, and data capabilities provide its global partners and their customers with a seamless experience. These capabilities are being utilized in Latin America with partners like Betterfly and in other regions around the world, including Asia and Europe. Specifically, Chubb's global digital product distribution platform, Chubb Studio, allows business partners to quickly and easily add "white label" insurance offers to their existing digital platforms, with significant speed-to-market capabilities. Additionally, it provides a secure and scalable platform with multiple APIs to simplify the process. The platform enables Chubb's partners in retail, e-commerce, banking, fintech, airline, telecommunications, and other industries to add digital insurance options to their product and service offerings, as well as the ability for their customers to submit claims 100% digitally within their ecosystems and platforms. About Chubb Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. As an underwriting company, we assess, assume, and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris, and other locations and employs approximately 31,000 people worldwide. About Betterfly Betterfly, one of Latin America's most valuable insurtech startupi, is a leading technology company that combines wellbeing, insurance, and social purpose with a mission to help people do better, live better, and be better. The company is pioneering a new way of bringing flexible and simple financial protection to all by empowering people to help others and take care of their own mental, physical, and financial wellbeing. Betterfly is making it easier and more affordable for individuals in Latin America to access financial, insurance, and lifestyle benefits and for organizations to provide these benefits to their employees. Its fully digital benefits subscription gives each member smart life insurance coverage. The company leverages its platform to track and rewards members' good habits with charitable donations options and life insurance coverage that grows at no cost. As a Public Benefit Corporation and Certified B-Corp, Betterfly is reimagining insurance with a purpose-driven approach that empowers members to protect their families, communities, and the environment.

Read More

INSURANCE TECHNOLOGY

Guidewire Software Announces Promotion of PartnerConnect Consulting Partner, Exavalu, Inc.

Guidewire | June 10, 2021

Exavalu, Inc. is promoted to PartnerConnect Consulting Select partner by Guidewire Software, Inc.; the platform P&C insurers rely on to engage, innovate, and expand effectively. There are three relationship tiers in the PartnerConnect Consulting partner program: Select, Advantage, and Global Premier. The levels are designed to award partners based on their accomplishments and contributions, such as insurance sector expertise, the number of Guidewire certified employees, and specialization achievement. Exavalu, Inc. is a consulting company focused on the insurance industry that serves as a trusted adviser to significant property and casualty insurers on core and digital transformation. Exavalu’s global Guidewire practice comprises seasoned experts with several years of implementation expertise in the Guidewire suite of products, including InsuranceSuite, Digital, Data, and InsuranceNow, along with Guidewire Cloud, Guidewire’s cloud services. “We congratulate Exavalu, Inc. on its well-deserved promotion to Select partner within our PartnerConnect program,” stated Lisa Walsh, vice president of Alliances at Guidewire Software. “We are delighted to recognize Exavalu Inc.’s proven implementation experience throughout Guidewire’s suite of products, and we look forward to strengthening our collaboration in serving our mutual and valued customers.” About Exavalu, Inc. Exavalu, Inc. is a consulting firm focusing on the insurance business that serves as a trusted advisor to leading Property & Casualty insurers on Core and Digital Transformation. We assist insurance carriers in executing their market growth, profitability, cost-cutting, risk management, and innovation strategies. Our global team of highly experienced Insurance business and technology SMEs provides carriers with advisory and implementation services on core modernization, customer experience enhancement, integration, automation, data analytics, artificial intelligence, and cloud migration and engineering. About Guidewire PartnerConnect Guidewire PartnerConnect Consulting partners offer business transformation and strategy consulting and implementation and related solution and delivery services. Guidewire Consulting practices now have over 12,000 consultants globally that have been trained or have expertise with Guidewire products. Guidewire PartnerConnect is a program that is exclusively available via invitation.

Read More

Spotlight

Our roots began in translation but what we do today goes well beyond – from content creation to linguistics, to artificial intelligence (AI). We create global relevance, driven by humanity and amplified by technology. Connecting our customers with their communities and driving brand awareness.