Accenture (NYSE: ACN) and BNP Paribas Cardif have signed an eight-year business process outsourcing (BPO) agreement under which Accenture will manage an important portfolio of BNP Paribas Cardif's group life insurance policies business in France, including the administrative management of the insurer' call centers and ancillary accounting operations.
The agreement is designed to enhance the quality and efficiency of services BNP Paribas Cardif is providing to its clients, leveraging an information technology (IT) platform that benefits from Accenture's expertise and competencies. The platform is designed to become an industry standard and to support BNP Paribas Cardif' growth agenda and reinforce its market position in the group life insurance business.
"In today's economy, leading insurers are increasingly looking to streamline their operations to create new business opportunities," said Didier Descombes, an executive director in Accenture's Financial Services group. "Our objective is to provide high-quality and cost-competitive services, and support insurers in their business strategy in France and globally."
"The life insurance industry is undergoing fundamental change, driven by increased regulation and risk management pressure and more volatile markets," said Daniele Presutti, managing director of Accenture Life Insurance Services. "This provides an opportunity for some insurers to gain market share. Outsourcing can help them strengthen capabilities to reach their objectives."
Accenture Life Insurance Services, a business service within Accenture's Financial Services operating group, serves more than 60 life insurance, annuity and pension clients worldwide.