F&G Annuities & Life, Inc (F&G), a U.S. provider of insurance solutions serving retail annuity and life customers and institutional clients, announced a strategic collaboration with Accenture to enhance its technology platform capabilities to optimize and scale operations for future growth through the utilization of Accenture’s Life Insurance and Annuity Platform (ALIP).
ALIP is a robust and configurable cloud-native digital insurance platform that offers life insurance carriers and annuity providers advanced capabilities for product development, new business development, underwriting, policy administration, claims, and payout, underpinned by data analytics.
F&G has embarked on a cloud modernization program to drive new business growth for its Annuity business and bolster its customer, agent, and distributor experiences using the ALIP platform running on Microsoft Azure.
Powered by automated and configurable processes, ALIP enables F&G to more efficiently deal with exception handling and offer customized capabilities to its growing distribution network of financial representatives across the U.S.
“Our collaboration with Accenture is helping our teams create the best experience for our valued distribution partners and our customers,” said Catherine James, SVP Operations, F&G. “With the platform now live, we’re better positioned to gain more operational efficiencies, offer faster service and expand our distribution channels to drive innovation and future business growth.”
ALIP will enhance F&G’s case management process by streamlining new application processing and automating tasks. This will help case managers work more productively and reduce the overall time it takes to handle cases.
F&G will be able to provide more personalized services, such as special case management for large contracts and complex sales, and respond more quickly to each distributor’s needs. This will also offer greater transparency, flexibility, and support for its partner network.
Shay Alon, who leads Accenture’s Life and Annuity Products and Platforms business, said, “With the continued rise of cloud and AI services in the insurance industry, carriers are recognizing their transformative power. This is a pivotal step for F&G to continue to scale its technology architecture. Leveraging ALIP’s deep industry and technology expertise, we’re collaborating with F&G teams to deliver the speed and agility today’s economy demands, helping them achieve their business objectives.”
ALIP is available as an integrated suite of software with modules that can be implemented individually or as part of a broader migration strategy. ALIP is part of Accenture Life Insurance Services.
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