ALIPElectronics Applications

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Completing a life insurance or annuity application successfully and accurately is an important first step in the policy life cycle. It sets the professional tone for customer interactions, and it provides important information for managing the customer effectively throughout the duration of the relationship.

The Electronic Applications component of the Accenture Life Insurance & Annuity Platform (ALIP) gathers application data via a Web-based user interface and generates completed new business forms for signature. Using configuration, it tailors the data capture process to meet the needs of your business. The component has the ability to help ensure data quality at input or provide flexibility to ensure proper follow up. Whether used at the point of sale and/or for follow up client interviews, users are guided down the proper path based on how the data collection workflow and processes were configured.

In addition, the Electronic Applications component can support case initiation via several integration methods. Examples include:

•Clientspecificelectronicapplicationsolutions with proprietary formats.

•Aggregatorsforthirdparty/independentbrokers using ACORD standards.

•Onlinemallsiteproviders(forexample,InsWeb) to launch pre-population of the application.

•Clientspecificillustrationsolutionstolaunch pre-population of the application.

These methods can co-exist with manual data entry features or, in exceptional cases, can serve as the sole method for case creation.

Accenture won the XCelent Customer Base Award in Celent’s 2012 North American New Business and Underwriting Systems ABCD report. In addition, ALIP is featured in the top right quadrant in both technology / functionality and base / service, indicating the platform’s strong capabilities across all of the rated areas.

FeaturesData entry rules

Support the creation and management of all data capture processes via configuration. Data collection is supported across one or many pages. The platform provides a simple and easy-to-use interface for the formatting of questions, with multiple answer options, including text boxes, drop-down list boxes, multi-select list boxes, genders, radio buttons, yes/no, true/false, SSN, addresses, and so on. Each page or individual question is easily integrated with business and calculation rules.

Business rules

Support workflow and process rules, data capture rules, validation rules, and follow up rules. The platform provides a simple and easy-to-use interface for the configuration of business rules, defined using conditions and actions.

Workflow rules

Define the steps of a process and any deviations required based on current data. Work orchestration and routing features include task box management, load balancing features and online reports. Using the workflow rules you can build rules-based process flows for processes managed by the platform such as application entry, addition of new clients, transaction entry, and so on. These configurable workflows can be used to route users down different paths based on many criteria such as user types, product types, distribution channels, and even language.

Forms

The Electronic Applications component generates forms based on rules and then links those forms to applications. The creation or the receipt of forms can trigger requirements or task box items within the system. Forms and letters can be stored in our platform and generated for PDF output.

Electronic signature

Electronic signature integration, digital form and pen integration help producers to capture new business information efficiently and in good order.

Example of data captured during the new business application process.

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ALIP provides integration with electronic signature tablets that conform to various standards (e.g. Topaz, SigPlus interface, API and API for integration with the Microsoft Tablet PC). The electronic signature can be captured once a form is generated and can be associated to each subject linked to the application.

Our solution has been integrated with digital form and pen data capture functionality that can be easily used by agents during application entry. The application information, captured via digital writing capability, is then fed into the ALIP New Business solution for automated new business processing.

In addition to the signature pad and digital pen, ALIP also supports the click through electronic signature acknowledgement process.

This enables users to instantly e-sign documents over the Web without having to download or install any special plug-ins or software. Users are able to sign by clicking on a button on-screen using their mouse. The click-to-sign method is particularly recommended for field force and point-of-sale processes so software does not need to be distributed and installed on a representative’s computer system.

Benefits

•Increasedmobility–electronicsignatureintegration, digital form and pen integration,mobileapplications–allowsyour producers to capture new business information efficiently and in good order.

•Carriers’abilitytodecreasepolicyacquisition costs is supported.

•Flexibleconfigurationreducesrelianceon programmers and allows the business to take ownership via the Web-based user interface for the configuration effort.

•Productandbusinessrulesvalidationcan be configured to occur at any point duringthenewbusinessprocess–onafield by field basis, page level basis, at submission etc. User error messages are configurable.

Discover how to accelerate speed to market with our solution if you are interested in:

•Reducingthecostofnewproductrollouts.

•Maximizingtheeffectivenessofyourproduct designers.

•Improvingyourcompetitivepositionwhen introducing new products.

•Respondingrapidlytonewmarketopportunities.

How does ALIP help life and annuity carriers?

•Rapidintroductionsofinnovativenewproducts.

•Rapidprocessingofnewapplicationsand all policy service activities.

•Reducesdevelopmentexpense.

•Reducescoststhroughoperationalefficiency.

•Improvesunderwritingconsistency.

•Enhancescustomerservice.

•EnablesoptimizinguseofITresources.

•Providesrobustsystemfunctionality.

•Supportsaglobaldelivery model.

Achieving high performanceALIP eases the critical path of new product development, helping life and annuity carriers to compete more effectively and, ultimately, achieve high performance. In this way, organizations can be more nimble and responsive to the needs of an everchanging insurance marketplace. For instance, after switching from a legacy environment to ALIP, one insurer cut new product roll-out time by approximately 65 percent, while tripling the number of new product introductions.

Example of a PDF form

Contact usFind out how ALIP can help your organization achieve high performance:

Nancy BassSales and Client Management LeadAccenture Software for Life and Annuity nancy.bass@accenture.com

Or, visit www.accenture.com/lifeandannuitysoftware

About AccentureAccenture is a global managementconsulting, technology services andoutsourcing company, with approximately 323,000 people serving clients in morethan 120 countries. Combining unparalleledexperience, comprehensive capabilitiesacross all industries and business functions, and extensive research on the world’smost successful companies, Accenturecollaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home pageis www.accenture.com. Accenture Software combines deeptechnology acumen with industryknowledge to develop differentiatedsoftware products. It offers innovativesoftware-based solutions to enableorganizations to meet their business goalsand achieve high performance. Its homepage is www.accenture.com/software. For Life Insurance and Annuity software, its home page is www.accenture.com/lifeandannuitysoftware.

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