Accenture (NYSE: ACN) has been selected by Zurich Financial Services Group to build and maintain a new core insurance information technology (IT) system for the insurer's property and casualty (P&C) business in Latin America under a 10-year, multi-million dollar agreement.
The new system will support underwriting, policy administration and claims management for the insurer's P&C personal and commercial lines. Accenture and Zurich will implement the system in Argentina, Brazil, Bolivia, Chile, Mexico and Venezuela.
"Latin America is a promising, yet highly competitive market," said Uwe Jungmann, a senior executive in Accenture's Insurance practice. "Zurich is a long-standing client and we are honored to assist them in this core strategic initiative."
Accenture will provide implementation and support services to Zurich through its local facilities in Brazil and Argentina and through its Global Delivery Network using a center in Pune, India. The new IT platform will be based on a third-party standardized software package.