Accenture Aids AXA Insurance - Analyst Blog
14 März 2013 - 6:42PM
Zacks
Accenture Plc. (ACN), with its advanced
solution, is helping the insurance company AXA Groupto improve its
business process. Accenture implemented its Duck Creek Rating
software at Quixa SpA. This has helped the Italian subsidiary of
AXA improve product definition and deployment capabilities as well
as the efficiency of its existing business management
processes.
Quixa was on the lookout for a company that could help it with
flexible product, rating and rules configuration capabilities while
enhancing its integrated systems management capabilities. Accenture
took 12-weeks to implement the Accenture Duck Creek Rating, which
has improved Quixa’s business process and customer relations,
thereby helping the insurance business adapt to changing market
conditions.
With the solution, the AXA subsidiary will be able to improve
the quality of its services to independent agents and clients in
the insurance sector. This solution will automate the customer
relationship management system. Thus, the system will require
lesser staff for supervision and will lower operating costs.
In the recent past, Accenture has been able to win several deals
from the insurance sector. Improvement in business volume from this
sector has been fueled by the acquisitions of insurance solution
provider outfits such as Duck Creek (Jul 2011) and avVenta (Oct
2012).
These acquisitions have provided Accenture with better technical
knowledge about the functioning of the insurance business. ACN’s
insurance clients are using this know-how to cater to the needs of
their customers in changing market conditions, thereby improving
their operational efficiency.
Insurance has been a major deal winner for Accenture over the
last two years. However, we believe that the company’s strategy to
win deals at any cost has changed and the focus is now on winning
deals that offer higher margins. Moreover, the competition in the
insurance sector is also increasing with players like
IBM (IBM), Dell
Inc. (DELL) and
Hewlett-Packard Co. (HPQ) coming up with cost
effective solutions for the insurance sector.
The companies have also started aggressive marketing to grab a
chunk of the insurance market, with a special focus on the emerging
markets. Thus, we believe that Accenture has to come up with
innovative and customized solutions for its insurance customers to
maintain its current position in the market.
Currently, Accenture has a Zacks Rank #3 (Hold).
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