Accenture Clients Receive 2013 'Model Bank of the Year' and 'Model Insurer of the Year' Awards From Leading Industry Research Firm
Accenture (NYSE: ACN) clients BBVA Compass and XL Group were identified
as the "Model Bank of the Year" and the "Model Insurer of the Year" for
2013, respectively, by financial services industry research firm Celent.
The awards were based upon their successful deployments of Accenture
software, which were detailed in the Celent
Model Bank 2013 and Celent
Model Insurer 2013 reports published earlier this year.
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BBVA Compass, a top 20 U.S. bank, was named "Model Bank of the Year"
for executing one of the first successful core infrastructure
replacements for a major U.S. bank in more than a decade. Accenture
helped implement Alnova
Financial Solutions, its core banking software platform, across
the bank's more than 700 branches in seven U.S. states. Alnova has
helped the bank reduce the time it takes to open a new deposit account
from more than 40 minutes to as little as five, and reduced its time
to market with new products by up to 75 percent.
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XL Group, a global insurance and reinsurance company, was named "Model
Insurer of the Year" for deploying a centralized global multi-channel
claims management system that supports its operations in more than 20
countries. The insurer selected Accenture to help replace its legacy
claims systems using Accenture
Claim Components, Accenture's claims processing software.
Accenture Claim Components enabled XL to quickly launch a portal,
giving its customers access to claims-related information online and
through mobile devices.
Another Accenture client, U.S. property and casualty insurer Mutual
Benefit Group (MBG), was named among Celent's 17 "Model Insurers" for
the reuse of its agent rating portal which was built with Accenture
Duck Creek software. Launched in 2007 to help grow MBG's personal
lines business by giving agents instant access to quotes, the portal now
supports nearly all major lines, including 99 percent of MBG's
automobile and 85 percent of its homeowners' new business with no manual
intervention.
"We're delighted by the recognition that BBVA Compass and XL Group have
received," said Colin Davies, managing director, Accenture Software.
"Advanced software is at the heart of business today. Effectively
implementing industry-leading software that delivers real results for
the business is what we're all about."
"Innovation in core technology is a major differentiator in today's
financial services marketplace," said Richard Lumb, group chief
executive, Financial Services, Accenture. "These were not just bold and
successful technology initiatives; they were fundamental business
transformations of the kind that help firms compete for the long term.
We are proud to join Celent in congratulating our clients."
The core banking implementation was supported by Accenture
Core Banking Services, a business service within Accenture's
Financial Services operating group, which has helped design and
implement core banking systems for more than 200 institutions globally.
The insurance software implementations were supported by Accenture
Property and Casualty Insurance Services, a business service within
Accenture's Financial Services group that provides management
consulting, technology and outsourcing services to property and casualty
insurers to help them achieve profitable growth though product
innovation, enhanced customer interactions and reduced operating costs.
About Accenture
Accenture is a global management consulting, technology services and
outsourcing company, with 261,000 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$27.9 billion for the fiscal year ended Aug. 31, 2012. Its home page
is www.accenture.com.
Accenture Software combines deep technology acumen with industry
knowledge to develop differentiated software products. It offers
innovative software-based solutions to enable organizations to meet
their business goals and achieve high performance. Its home page is www.accenture.com/software.
For Banking software, its home page is www.accenture.com/bankingsoftware.
For P&C Insurance software, its home page is www.accenture.com/pcsoftware
