Ohio National Financial Services has deployed Accenture Life Insurance and Annuity Platform (ALIP) and has launched its first indexed universal life (IUL) insurance product on the platform.
The ALIP platform is a configurable and scalable solution that offers life insurance firms advanced capabilities for product development, new business development, underwriting, policy administration, claims and payout.
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It also offers latest product templates, easy to follow rules and third party vendor integrations, the technology vendor said.
Ohio National insurance operations vice president Danielle Ivory said: “ALIP is a key component to our long-term digital strategy. Our operations areas will gain efficiency in processing by use of ALIP’s automation and friendly user interface.
“We will be able to process transactions faster and more accurately, which will lead to superior customer service for both the internal associates and external customers.”
Accenture Life and Annuity Software global managing director Shay Alon said: “Looking forward, we see exciting opportunities to further expand product lines supported and efficiency gains, utilizing ALIP configuration and Digital capabilities.”
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