Accenture's Duck Creek Policy Suite Adopted by Coverys - Analyst Blog
Accenture plc (ACN) has been winning several major deals of late. Recently, insurance company Coverys selected Accenture's Duck Creek Policy software suite to accelerate its product development processes and enhance customer services. Financial terms of the deal were kept under wraps.
Per the contract, Accenture will offer its Duck Creek Policy software solutions to Coverys for its general insurance business in the U.S. The solution would improvise its property and casualty insurance product developments as well as client’s billing and claims. Notably, Duck Creek Policy runs on a new trading platform named ZTrade that offers new products, pricing and self-service all from a single place.
Coverys is one of the top 10 U.S. medical professional liability insurers. The company offers medical professional liability insurance and related services to hospitals, physicians/surgeons, dentists and allied healthcare professionals through its subsidiaries. To properly manage its nationwide insurance operations, the company has had to adopt efficient software solutions. Accenture's expertise in providing various insurance solutions justifies Coverys’ decision to select its insurance suite.
Accenture's Duck Creek Policy suite will enable Coverys to settle property and casualty claims as and when a loss is incurred, thereby maintaining its market position and increasing the goodwill.
Accenture has been serving the insurance vertical for years. Continuous insurance deal wins underscore the efficacy and popularity of its services. With the Duck Creek acquisition (in Jul 2011), Accenture enhanced its insurance platform. The company’s solutions help insurance carriers to adapt to changing market conditions and gauge future requirements, thereby enhancing their performance.
In spite of regular deal wins, competition continues to increase at a steady pace, especially from the likes of IBM (IBM) and Cognizant Technology Solutions (CTSH). Further, a strained spending environment adds to the woes.
Also, during the first-quarter fiscal 2015 conference, Accenture lowered the fiscal earnings forecasts to account for the negative impact from foreign exchange rates, which makes us skeptical about its future performance.
Currently, Accenture carries a Zacks Rank #3 (Hold). A better-ranked stock in the consulting industry worth considering is CBIZ Inc. (CBZ), sporting a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ACCENTURE PLC (ACN): Free Stock Analysis Report
INTL BUS MACH (IBM): Free Stock Analysis Report
COGNIZANT TECH (CTSH): Free Stock Analysis Report
CBIZ INC (CBZ): Free Stock Analysis Report
To read this article on Zacks.com click here.
