Erie Insurance Selects Accenture to Implement New Product Development and Policy Processing Platform.Business Editors NEW YORK--(BUSINESS WIRE)--March 4, 2003 Accenture Insurance Solution to Help ERIE Enhance Customer Service and Reduce Costs The Erie Insurance Group Erie Insurance Group, (NASDAQ: ERIE) is a multi-line insurance company, offering auto, home, commercial and life insurance through a network of independent insurance agents. (ERIE), a leading property/casualty insurer based in Erie, Pennsylvania “Erie” redirects here. For other uses, see Erie (disambiguation). Erie (pronounced IPA: /ˈɪəri/) is a major industrial city on the shore of Lake Erie in the northwestern corner of the U.S. , has selected Accenture (NYSE NYSE See: New York Stock Exchange :ACN ACN Accenture (stock symbol) ACN Accenture ACN Australian Company Number ACN Automatic Collision Notification (US DOT) ACN Acetonitrile ACN Anglican Communion Network ) to implement a new product development and policy processing platform designed to help ERIE enhance its customer-service and policy processing capabilities. The Accenture Insurance Solution will make real-time transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. capabilities available to ERIE's independent agents; provide ERIE with an integrated view of customer and agent relationships across multiple products; enhance the flexibility and efficiency of policy and product processing for personal and commercial lines; and allow ERIE to retire some of its legacy applications. The Accenture Insurance Solution is a multi-channel, multi-language insurance business software platform that all types of insurers -- including property & casualty, life and pension -- can use to help manage all types of products. The solution will help ERIE support its independent agency channel, branch offices and home-office users, including underwriters, customer service representatives, policy processors and actuaries. "Our agents and employees will have access to the same customer data on one unified system, greatly reducing the data and processing redundancy of our current systems," said Eugene Connell, Erie Insurance senior vice president and division officer, Actuarial ac·tu·ar·y n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin , and ERIEConnection program manager. "Accenture's track record and insurance industry experience make us confident that this solution will enable us to significantly lower the risk and cost of moving to a strategic new product platform." Due to its flexible design, the Accenture Insurance Solution can be implemented in a phased approach, helping ERIE to selectively migrate its multiple lines of business into a centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. , customer-focused processing system. As a result, the solution will empower ERIE's 8,300 independent agents to deliver improved customer service to the company's more than 3 million policyholders across personal and commercial lines of business. "Leading insurers like ERIE can benefit significantly from implementing Accenture's Insurance Solution, which has been designed to help support insurers' growth and profitability strategies," said David P. Hollander, managing partner, Insurance Solution Group. "The Accenture Insurance Solution is designed to help reduce the total cost and risk associated with system replacement, with the primary goal of improving overall profitability for ERIE." About the Erie Insurance Group Known for competitive rates and superior service, Erie Insurance Group is a leading property/casualty insurer in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . With more than 3.5 million policies in force, Erie Insurance Group includes seven companies operating in 11 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). and is rated A++ (superior) by A.M. Best Company. Erie Indemnity Company (Nasdaq: ERIE) is the management company for Erie Insurance Group. Headquartered in Erie, Pa., since 1925, the ERIE provides auto, home, business and life insurance through more than 8,300 independent agents representing 1,750 agencies. For more information and a listing of independent agents representing The ERIE in your community, visit the company's website at http://www.erieinsurance.com About Accenture Accenture is the world's leading management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects and technology services company. Committed to delivering innovation, Accenture collaborates with its clients to help them realize their visions and create tangible value. With deep industry expertise, broad global resources and proven experience in consulting and outsourcing, Accenture can mobilize mo·bi·lize v. 1. To make mobile or capable of movement. 2. To restore the power of motion to a joint. 3. To release into the body, as glycogen from the liver. the right people, skills, alliances and technologies. With more than 75,000 people in 47 countries, the company generated net revenues of $11.6 billion for the fiscal year ended August 31, 2002. Its home page is www.accenture.com. |
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