), 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
) coming up with cost effective solutions for the insurance
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).
ACCENTURE PLC (ACN): Free Stock Analysis
DELL INC (DELL): Free Stock Analysis Report
HEWLETT PACKARD (HPQ): Free Stock Analysis
INTL BUS MACH (IBM): Free Stock Analysis
To read this article on Zacks.com click here.