Accenture plc (ACN) has been serving the insurance vertical for years. The company has witnessed a series of insurance deals in the past few months, indicating the efficacy and popularity of its services.
To maintain the growth trend, Accenture recently enhanced its life insurance software platform. The advanced platform will help life and annuity insurers to innovate products easily and speed-up process efficiency, thereby reducing overall operating costs.
The company expects the advanced platform to attract more clients from both the domestic and international markets, thus expanding its global foot print.
The enhanced platform will provide support for more than 400 mathematical and statistical calculations, allowing insurers to launch new products by analyzing the market situation. The platform offers an advanced user interface that can be easily integrated with the existing legacy platforms of clients and through seamless transition.
Moreover, several business and product configuration features have been added to help adoption of the software platform in international markets. The new platform offers users access to more international and multi-country capabilities, like global addresses and financial institutions and support for multiple languages.
Accenture insurance solutions will help insurers adapt to changing market conditions and gauge future requirements, enabling them to run high-performance businesses. Carriers will be able to achieve high performance through controlled costs, maximum profitability and efficiency.
We see opportunities for successful and increased adoption of Accenture’s insurance solutions, as the features provided by the new platform matches the competitive requirements of insurers.
We are encouraged by the healthy growth in revenue and bookings in Accenture’s recently concluded third quarter of 2011. Moreover, we are positive about Accenture’s strategic alliance with the leading enterprise application software developer, SAP AG (SAP).
However, the economic turmoil in Europe and competitive pressure from IBM Inc. (IBM) could considerably rationalize Accenture’s growth prospects.
Accenture has a Zacks #3 Rank, implying a short-term Hold recommendation.
ACCENTURE PLC (ACN): Free Stock Analysis Report
INTL BUS MACH (IBM): Free Stock Analysis Report
Be the first to comment