Finnish banking group OP Financial Group has expanded its partnership with Accenture to modernise its non-life insurance business, Pohjola Insurance.  

The extended multi-year tie-up will focus on transforming OP’s insurance business functions to increase efficiency and customer experience. 

Accenture will develop a digital core for Pohjola Insurance by implementing a new cloud-based Guidewire platform for its IT applications.  

This technological overhaul is expected to result in operational savings and facilitate the quicker launch of new products and services. 

Additionally, Accenture will take charge of the ongoing maintenance of Pohjola Insurance’s IT systems and applications.  

It will integrate automation, advanced analytics and generative AI to refine business processes, aiming to expedite employee response times to customer inquiries. 

OP Financial Group CIO Kasimir Hirn said: “We are thrilled to expand our partnership with Accenture. Their innovative approach using generative AI, automation and advanced analytics are crucial for us as we develop our non-life insurance business.  

“This collaboration will not only enhance our operational efficiency but also significantly improve the customer experience by enabling rapid innovation and more seamless interactions.”  

The agreement creates a management team from Accenture and Pohjola Insurance to oversee the initiative and help OP enhance customer experience, reduce costs and grow market share. 

Accenture client account lead for OP Financial Group Neeta Nagar stated: “Enterprise reinvention through the development of a strong digital core steeped in AI, data and cloud is essential for banks and insurers to deliver a superior customer experience and fuel new growth.  

“The partnership with OP is based on Accenture’s commitment to bring the latest technologies and industry expertise to transform business processes and establish new ways of working.” 

This builds upon the existing partnership covering OP’s digital banking operations in 2021.  

In March, Accenture acquired Altus Consulting from Equisoft to enhance its services for insurance and investment clients in the UK.