{"id":684992,"date":"2022-09-14T06:02:04","date_gmt":"2022-09-14T10:02:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ohio-national-teams-with-accenture-to-accelerate-technology-modernization\/"},"modified":"2022-09-14T06:02:04","modified_gmt":"2022-09-14T10:02:04","slug":"ohio-national-teams-with-accenture-to-accelerate-technology-modernization","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ohio-national-teams-with-accenture-to-accelerate-technology-modernization\/","title":{"rendered":"Ohio National Teams with Accenture to Accelerate Technology Modernization"},"content":{"rendered":"

<\/p>\n

Ohio National Teams with Accenture to Accelerate Technology Modernization<\/b><\/p>\n

\nAward-winning project has improved carrier\u2019s customer and associate experiences and product speed to market\n<\/p>\n

NEW YORK & CINCINNATI–(BUSINESS WIRE<\/a>)–
\nAccenture (NYSE: ACN) and Ohio National Financial Services, Inc. have collaborated to modernize the life insurer\u2019s core systems, transforming its processes and helping it achieve significant top-and bottom-line business results.\n<\/p>\n

\nThe modernization program consolidated Ohio National\u2019s business onto the Accenture Life Insurance and Annuity Platform (ALIP), improving operating efficiencies and supporting US$50 million in new premiums, from, among others, a new indexed Universal Life (IUL) product. Coupled with Ohio National\u2019s adoption of \u2018fluidless underwriting\u2019 \u2014 whereby the carrier is harnessing automation with predictive analytics to assess risk without the need for medical exams \u2014 the project has reduced new business processing time by 20% on nearly 12,000 new applications. The process of applying and being approved for life insurance previously could have taken weeks, and can now take a matter of days, resulting in a better customer experience throughout the value chain.\n<\/p>\n

\nThe project was recognized by advisory firm Aite-Novarica in its 2022 Insurance Technology Impact Awards<\/a>, with Ohio National winning the Life\/Annuity\/Benefits category for its core systems transformation project with Accenture. The awards recognize insurers for projects and programs that delivered real business impact through technology.\n<\/p>\n

\n\u201cWith many Americans uninsured or underinsured, we want to make it easier to obtain a life insurance policy \u00ad\u2014 supporting our ethos to be there for our customers as life changes,\u201d said Danielle Ivory, Ohio National\u2019s senior vice president, Operations. \u201cAccenture\u2019s technology is helping us achieve our mission and its advanced automation, integration and configuration technologies are enabling us to expand our range of products and drive new capabilities so that we can offer even higher service levels for our current and potential customers.\u201d\n<\/p>\n

\nPart of a broader IT modernization strategy, Ohio National\u2019s transformation was designed to enable and support its expansion into new product lines, enhance customer self-servicing, increase distribution, improve underwriting and case management operating efficiency and integrate with its ecosystems.\n<\/p>\n

\n\u201cWe were able to help Ohio National develop and launch new, more competitive products while improving the experience for its customers and associates because we know the industry well and we have the technology know-how,\u201d said Shay Alon, who leads Accenture\u2019s Life and Annuity Products and Platforms business. \u201cALIP will help the carrier adapt to accelerating change and evolving customer demands. This modernization is a pivotal step in driving innovation and future revenue growth.\u201d\n<\/p>\n

\nALIP is a robust and configurable cloud-native digital insurance platform underpinned by data analytics. It offers life insurance carriers and annuity providers advanced capabilities for product development, new-business development, underwriting, policy administration, claims and pay-out. It is available as an integrated suite of software with modules that can be implemented individually or as part of a broader migration strategy.\n<\/p>\n

\nAccenture Life Insurance & Annuity Platform (ALIP) is part of Accenture Life Insurance Services. Learn more at www.accenture.com\/lifeandannuitysoftware<\/a>.\n<\/p>\n

About Accenture
\n
<\/b>Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology and Operations services and Accenture Song \u2014 all powered by the world\u2019s largest network of Advanced Technology and Intelligent Operations centers. Our 710,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com<\/a>.\n<\/p>\n

About Ohio National
\n
<\/b>Since 1909, Ohio National has been committed to helping individuals, families and businesses protect what matters most. Through our network of financial professionals across 49 states (all except New York), the District of Columbia and Puerto Rico and through affiliated operations in South America, we provide the insurance products that help our policyholders achieve financial security and independence. As of December 31, 2021, our affiliated companies have $40.8 billion total assets under management. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Recognized as a Leader in Workplace Equity by Ellequate<\/a>. Please explore ohionational.com for more information and for the latest company updates, connect with Ohio National on LinkedIn<\/a>, Facebook<\/a> and YouTube<\/a>.\n<\/p>\n

\nCopyright \u00a9 2022 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20220914005074\/en\/<\/a><\/span><\/p>\n

\nVictoria Ancell
\n
Accenture
\n
+44 7446 27759
\n
v.ancell@accenture.com<\/a><\/p>\n

KEYWORDS:<\/b> New York Ohio United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Technology Insurance Finance Security Consulting Professional Services Business Software Networks Data Management<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Ohio National Teams with Accenture to Accelerate Technology Modernization Award-winning project has improved carrier\u2019s customer and associate experiences and product speed to market NEW YORK & CINCINNATI–(BUSINESS WIRE)– Accenture (NYSE: ACN) and Ohio National Financial Services, Inc. have collaborated to modernize the life insurer\u2019s core systems, transforming its processes and helping it achieve significant top-and bottom-line business results. The modernization program consolidated Ohio National\u2019s business onto the Accenture Life Insurance and Annuity Platform (ALIP), improving operating efficiencies and supporting US$50 million in new premiums, from, among others, a new indexed Universal Life (IUL) product. Coupled with Ohio National\u2019s adoption of \u2018fluidless underwriting\u2019 \u2014 whereby the carrier is harnessing automation with predictive analytics to assess risk without the need for medical … <\/p>\n

Continue reading “Ohio National Teams with Accenture to Accelerate Technology Modernization”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-684992","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nOhio National Teams with Accenture to Accelerate Technology Modernization - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ohio-national-teams-with-accenture-to-accelerate-technology-modernization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ohio National Teams with Accenture to Accelerate Technology Modernization - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Ohio National Teams with Accenture to Accelerate Technology Modernization Award-winning project has improved carrier\u2019s customer and associate experiences and product speed to market NEW YORK & CINCINNATI–(BUSINESS WIRE)– Accenture (NYSE: ACN) and Ohio National Financial Services, Inc. have collaborated to modernize the life insurer\u2019s core systems, transforming its processes and helping it achieve significant top-and bottom-line business results. The modernization program consolidated Ohio National\u2019s business onto the Accenture Life Insurance and Annuity Platform (ALIP), improving operating efficiencies and supporting US$50 million in new premiums, from, among others, a new indexed Universal Life (IUL) product. Coupled with Ohio National\u2019s adoption of \u2018fluidless underwriting\u2019 \u2014 whereby the carrier is harnessing automation with predictive analytics to assess risk without the need for medical … Continue reading "Ohio National Teams with Accenture to Accelerate Technology Modernization"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ohio-national-teams-with-accenture-to-accelerate-technology-modernization\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-14T10:02:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20220914005074r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ohio-national-teams-with-accenture-to-accelerate-technology-modernization\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ohio-national-teams-with-accenture-to-accelerate-technology-modernization\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Ohio National Teams with Accenture to Accelerate Technology Modernization\",\"datePublished\":\"2022-09-14T10:02:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ohio-national-teams-with-accenture-to-accelerate-technology-modernization\\\/\"},\"wordCount\":779,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ohio-national-teams-with-accenture-to-accelerate-technology-modernization\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20220914005074r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ohio-national-teams-with-accenture-to-accelerate-technology-modernization\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ohio-national-teams-with-accenture-to-accelerate-technology-modernization\\\/\",\"name\":\"Ohio National Teams with Accenture to Accelerate Technology Modernization - 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