Accenture Plc. (ACN) is winning deals from insurance companies across the globe. Recently, the company won a deal from the Reale Mutua Assicurazioni Group of Italy to provide back office and IT services, expanding the company’s business in Italy. Accentuire has agreed to provide multi-year back office assistance, policyholder data entry, claim settlement IT support and data entry processes related to the policyholder’s account.
Second in this line of deal wins came from the professional liability insurance company, OMS National Insurance Company (:OMSNIC), where Accenture will help the transformation of its business goals through a revamp of its policy, billing and claims software. The Accenture Property & Casualty (P&C) Insurance Suite will assist the company in processes like Policy Administration, Billing and Claim Components, providing a single solution to help the company in rating, quoting, underwriting, billing, claims administration and policy lifecycle support.
Accenture is on the right track to widen its geographical presence and at the same time it is diversifying its service portfolio as well. The insurance segment is of course not new to the company. Accenture has previously served various companies in the same domain.
The company has taken aggressive marketing strategy to enhance its business across the globe. Marketing and digital executives of Accenture are coming up with cost effective solutions for its clients to crack high-value business deals.
Accenture has been able to maintain a steady pace of deal wins over the last few years. This will provide the much needed support to the company’s revenue base. The consulting and outsourcing business has made a meaningful contribution to the company revenue over the years.
On the other hand, companies like Cognizant Technology Solutions Corp (CTSH) and IBM Corp. (IBM) are providing good services to their clients at competitive rates. To add to its woes, the company’s European business is not making a significant contribution.
Accenture currently has a Zacks Rank #3 (Hold). Another technology company, Information Services Group Inc. (III), carries a Zacks Rank #1 (Strong Buy), and is therefore worth considering.
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