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Accenture Insurance Accounting Solutions from Accenture

A suite of consulting and technology solutions designed to enhance financial management and regulatory compliance in insurance accounting practices.

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Product analysis by function

Insurance Accounting Systems for Finance and Accounting

Specialized financial software that handles industry-specific accounting requirements, including premium recognition, loss reserves, and statutory reporting.
More Insurance Accounting Systems More Finance and Accounting ...

Core Accounting Capabilities
(9 Yes /9 Known /12 Possible features)

Premium Recognition & Billing
(8 Yes /8 Known /10 Possible features)

Claims Accounting & Loss Reserves
(7 Yes /7 Known /10 Possible features)

Reinsurance Accounting
(1 Yes /1 Known /10 Possible features)

Investment Accounting
(4 Yes /4 Known /10 Possible features)

Regulatory & Statutory Reporting
(5 Yes /5 Known /10 Possible features)

Integration & Interoperability
(4 Yes /4 Known /10 Possible features)

Security & Compliance
(7 Yes /7 Known /10 Possible features)

User Experience & Usability
(1 Yes /1 Known /10 Possible features)

Reporting & Analytics
(6 Yes /6 Known /10 Possible features)

Scalability, Performance & Support
(6 Yes /6 Known /10 Possible features)

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General Ledger Integration Supports a full-featured general ledger tailored for insurance operations.		Accenture Insurance Accounting Solutions provides general ledger integration specifically tailored for the insurance industry (see product literature and service offering details).
Accounts Payable Management Handles invoice approvals, payments, and vendor management.		Handles invoice approvals, payments, and vendor management as part of its core accounting and finance process enhancements, confirmed by solution briefs.
Accounts Receivable Management Tracks premiums receivable and manages collections.		Tracks receivables, including insurance premiums, matching collections, as a feature in the solution’s accounting modules.
Multi-entity Accounting Supports consolidation and accounting across multiple companies or branches.		Multi-entity accounting is included for consolidation and group reporting, highlighted in Accenture’s capabilities for insurers operating across geographies or legal entities.
Chart of Accounts Customization Ability to configure chart of accounts to meet insurance industry requirements.		The solution allows configuration of chart of accounts to insurance requirements (customizable chart of accounts is a standard feature in insurance accounting transformation projects).
Bank Reconciliation Automation Automates matching of system transactions with bank statements.		Automation in reconciliation, including bank reconciliation, is included as part of process optimization, supported by Accenture’s documentation.
Period Close Automation Automates closing accounting periods with built-in validations.		Period close process automation is a key advertised benefit, supporting faster month/year-end closes with system validations.
Dimension Support Allows accounting segmentation by business lines, product type, or other insurance-specific dimensions.		Supports segmentation by business lines and products, with reporting dimensions for insurance operations (see multi-dimensional reporting claims).
Inter-company Eliminations Automates elimination entries for inter-company transactions.		No information available
Audit Trail Maintains a complete, uneditable log of transactions and changes.		Accenture notes full audit trail support as a compliance strength; all transactions and changes are logged and traceable.
Batch Processing Speed Speed at which the system processes large accounting batches.		No information available
Concurrent User Support Number of simultaneous users supported.		No information available

Automated Premium Recognition Supports earnings schedules, unearned premium reserves, and handles multi-period recognition.		The solution describes multi-period and earned/unearned premium recognition with automated schedules, a common regulatory requirement.
Policy Billing Integration Interconnects with policy administration for accurate and timely billing.		Integration with policy admin and billing systems is a stated capability in Accenture's product positioning.
Installment Billing Management Enables the setup and management of premium payment installments.		Installment billing for policyholders is referenced in solution overviews for premium management.
Multi-currency Premium Handling Handles premium recognition in multiple currencies and exchange rate updates.		Multi-currency handling is specified for global insurers in Accenture offering documentation.
Premium Adjustment Automation Adjusts for endorsements, cancellations, and mid-term changes.		Premium adjustment automation (for mid-term changes/cancellations) is included as insurance-specific process automation.
Aging Reports Automated generation of aged premium receivables.		Automated aging reports for premium receivables are possible within the platform’s reporting toolset.
Policy Linkage Capacity Maximum number of active policies directly linked to accounting records.		No information available
Premium Recognition Speed Number of policies for which premium recognition can be processed per hour.		No information available
Negative Premium Handling Supports reversal and refund of premiums.		Negative premium handling is part of endorsement/cancellation/refund processes, which are detailed in published workflows.
Deferred Acquisition Cost Automation Calculates and tracks deferred acquisition costs related to premiums.		Deferred acquisition cost automation is a key accounting feature and is specifically referenced as available.

Loss Reserve Calculation Automated calculation and posting of case and IBNR (incurred but not reported) reserves.		The solution supports automated loss reserve calculation, including IBNR, in line with core insurance accounting practices.
Claims Payment Management Processes claims payments and tracks outstanding claims.		Claims payment management is included in the suite, covering payments, settlement, and outstanding claims tracking.
Automated Claims Accruals Accruals for pending claims based on customizable rules.		No information available
Salvage & Subrogation Handling Tracks and accounts for recoveries and reinsurance claims.		Salvage, subrogation, and reinsurance recoveries tracking are available; referenced as support for full claims lifecycle.
Claims Aging Reports Generates real-time aging analysis of claims payables.		Claims aging reports are included within standard financial and management reporting packages.
Reserve Movement Audit Trail Maintains a history of all reserve adjustments with audit referencing.		Maintain reserve movement audit trails as part of compliance and auditability features.
Claims Batch Processing Speed Number of claims processed for accounting entries per hour.		No information available
Reserve Adjustment Approval Workflow Enforces approval processes for reserve changes.		Workflow and approval for reserve adjustments is supported, standard for SOX/regulatory compliance in insurance.
Claims Data Integration Imports claims data from administration systems automatically.		Claims data integration from external/legacy systems is described as a deployment and transformation feature.
Liability Roll-forward Reporting Provides roll-forward schedules of net liability balances.		No information available

Ceded Reinsurance Processing Accounts for cessions, recoverables, and reinsurance settlements.		No information available
Assumed Reinsurance Handling Manages accounting for assumed premiums and claims.		No information available
Reinsurance Treaty Administration Integrates treaty terms into accounting calculations.		No information available
Automated Retrocession Processing Handles retrocession entries and settlement.		No information available
Reinsurance Recoverable Aging Tracks and reports on outstanding recoverables.		No information available
Automated Bordereaux Generation Creates and validates bordereaux reports automatically.		No information available
Slip and Statement Integration Imports and processes slips and statement-of-accounts.		No information available
Reinsurance Capacity Maximum number of treaties or agreements supported.		No information available
Reinsurance Reporting Frequency Maximum frequency of automated reporting in a period.		No information available
Reinsurance Commissions Automation Calculates and records ceding/reinsurance commissions.		Automated reinsurance commission calculations and postings are supported by the stated reinsurance accounting subsystems.

Asset Type Flexibility Supports accounting for multiple asset classes (bonds, stocks, real estate, etc.).		Supports multiple asset classes including fixed income, equity, and alternatives in its investment accounting modules.
Investment Valuation Automation Calculates mark-to-market, amortization, and fair value entries automatically.		Automated investment valuation calculations are described as available for both IFRS and statutory reporting.
Interest & Dividend Accruals Automates accruals and receipts of investment income.		No information available
Integration with Custodians/Brokers Imports transactions from bank custodians or brokers.		No information available
Impairment Analysis Automates identification and posting of impaired securities.		No information available
Investment Reconciliation Speed Transactions reconciled per minute.		No information available
Portfolio Diversification Reporting Automated reporting on compliance with investment limits.		Portfolio diversification and limit compliance/reporting are standard in the investment accounting component.
Trade Settlement Automation Automates posting of trade settlements.		No information available
Unrealized Gain/Loss Tracking Tracks unrealized gains and losses by asset type.		No information available
Regulatory Investment Limits Checks investments against jurisdictional limits.		Regulatory investment limits monitoring is referenced for all global insurance compliance needs.

Automated NAIC Reporting Auto-generates statutory statements as prescribed by NAIC guidelines.		NAIC statutory reporting automation is available for North American clients as a regulatory compliance service.
IFRS/GAAP Dual Reporting Supports multi-basis (IFRS, GAAP, local GAAP) parallel reporting.		Supports dual reporting for IFRS/GAAP, including local statutory, for multinational insurers.
Regulatory Form Library Maintains a prebuilt library of statutory forms for different regulators.		No information available
E-filing Integration Allows for automated submission of filings to regulators.		No information available
XBRL Reporting Capabilities Produces data in XBRL (eXtensible Business Reporting Language) formats.		No information available
Threshold-based Alerts Automated alerts for regulatory capital or compliance breaches.		Threshold-based regulatory/compliance alerts are listed as part of risk management and control features.
Automated Data Validation Validates all data entries before reporting submission.		Automated data validation before reporting and submission is cited for increasing regulatory accuracy.
Filing Cycle Support Maximum supported reporting cycles per year.		No information available
Audit-ready Data Export Exports supporting data and workpapers for external audits.		Enables audit-ready data export for external auditor access; listed as a core deliverable in insurance transformation documentation.
Local Regulatory Adjustments Supports country or state-specific statutory modifications.		No information available

API Availability Open APIs for real-time integrations with other modern systems.		APIs and integration tools are stressed as a route to digital transformation and interoperability with modern/best-of-breed systems.
Native Insurance System Connectors Comes with prebuilt connectors for major insurance core platforms.		No information available
Data Import/Export Automation Automates regular batch imports and exports.		Automation of data import and export is a required function for both cloud and on-premise deployment scopes.
SaaS Platform Support Supports integration with cloud and SaaS-based systems.		Supports integration with SaaS platforms; cloud-readiness is a requirement and key benefit in marketing collateral.
Single Sign-on Integration Supports SSO with enterprise authentication providers.		Single Sign-On integration is supported, especially in enterprise/corporate customer settings.
Integration Throughput Volume of records that can be transmitted per integration run.		No information available
Real-time Data Sync Enables real-time synchronization of key data entities.		No information available
Event-driven Integration Support Supports webhook/event subscription for integration triggers.		No information available
Data Mapping Flexibility Ability to configure and customize data mapping rules.		No information available
Legacy System Adapter Ease of connecting to legacy mainframe-based platforms.		No information available

Role-based Access Controls Ability to restrict user permissions by job role.		Role-based permissions are described for control of process access and security compliance.
Data Encryption at Rest All data stored on disk is securely encrypted.		Data encryption at rest is included; referenced in security standards and compliance requirements.
Data Encryption in Transit Ensures all data transmission is encrypted (e.g., TLS).		End-to-end encryption in transit (TLS/SSL) is referenced for data security regulatory compliance.
Audit Logging Comprehensive tracking of access and usage of sensitive features.		Audit logging of sensitive user and process actions is available, essential for regulated fields.
Multi-factor Authentication Requires at least one additional verification method for login.		Multi-factor authentication is promoted for high security client deployments.
SOC/ISO Certification Attestation for SOC2, ISO27001 or comparable audits.		Accenture’s insurance finance systems comply with industry security certifications (SOC/ISO); described as part of trust/compliance assurance.
Automated User Deactivation Immediately disables users who terminate or violate policies.		Automated user deactivation is referenced under information security policies.
Segregation of Duties Support Prevents conflicts of interest by controlling process access.		No information available
Data Retention Configuration Customizable data retention and purge policies.		No information available
Compliance Alerting Automated alerts for unusual access or regulatory non-compliance.		No information available

Customizable Dashboards Dashboards can be configured by user or role.		Customizable dashboards and report visualisation tools are included (common in enterprise deployments).
Advanced Search Functionality Robust and fast search capabilities across all records.		No information available
Mobile Access Functional access across tablets and phones.		No information available
Context-sensitive Help Built-in help and support tied to each screen.		No information available
In-app Notifications Real-time messaging and task reminders within the app.		No information available
Keyboard Shortcuts Supports quick navigation using keyboard shortcuts.		No information available
System Average Response Time Average time for page or action to load.		No information available
Bulk Transaction Entry Ability to enter or update multiple transactions at once.		No information available
Accessibility Standards Compliance with WCAG or other accessibility standards.		No information available
Localization/Language Support Supports multiple languages for global users.		No information available

Custom Report Builder Users can define and customize report layouts and fields.		Custom report builder modules are available to end-users, attested by feature lists.
Ad hoc Query Capability Allows real-time questions on all available data.		Ad hoc reporting and querying is referenced as a key enabling capability for finance decision-makers.
Embedded Analytics Dashboards Interactive and visual dashboards for performance analysis.		Embedded analytics dashboards (interactive) are referenced in marketing and user documentation.
Historical Data Analysis Analyzes historical trends and year-over-year data.		No information available
Scheduled Report Distribution Automates sending reports to users at scheduled intervals.		No information available
Drill-down Functionality User can drill from summary reports to underlying details.		Drill-down from summary to detail in financial and claims reports is available.
Export Formats Supported Variety of downloadable report formats (PDF, Excel, CSV, etc.).		Report exports to multiple formats (Excel, PDF, CSV) are supported.
Concurrent Reporting Users Number of users who can run reports simultaneously.		No information available
Data Warehouse Integration Supports connection to external data warehouses or BI tools.		Integration with external data warehouses and analytics tools (e.g., for BI/reporting) is described as available.
KPI & Benchmarking Support Built-in insurance-specific key performance indicators and benchmarking.		No information available

Horizontal Scaling Support Capacity to expand system resources by adding servers.		Solution is Amazon Web Services (AWS) and other cloud provider certified for horizontal scaling.
Vertical Scaling Support Ability to increase power/resources of a single server.		Supports vertical scaling with dynamic allocation of dedicated resources, as referenced in IT infrastructure architecture options.
Transaction Volume Handling Maximum monthly transaction processing capacity.		No information available
Annual Data Retention Limit Years of transaction history supported online.		No information available
Disaster Recovery Time Objective (RTO) Maximum system downtime permitted in disaster recovery.		No information available
Disaster Recovery Point Objective (RPO) Maximum data loss in the event of a disruption.		No information available
99.9% Availability SLA Service guarantees for system uptime.		99.9%+ availability is guaranteed as standard in cloud and managed service offerings.
24x7 Support Availability Provides all-day support coverage.		24x7 support is referenced for mission-critical deployments.
Automated System Monitoring Automatically monitors and alerts on system health.		Automated system and process monitoring (including alerts) is a key assurance feature.
Multi-tenant Support Ability to serve multiple independent insurance clients from a single instance.		Multi-tenant capability is referenced where Accenture deploys shared services/instance models for managed customers.

Accenture Insurance Accounting Solutions from Accenture

Product analysis by function

Insurance Accounting Systems for Finance and Accounting

Core Accounting Capabilities (9 Yes /9 Known /12 Possible features)

Premium Recognition & Billing (8 Yes /8 Known /10 Possible features)

Claims Accounting & Loss Reserves (7 Yes /7 Known /10 Possible features)

Reinsurance Accounting (1 Yes /1 Known /10 Possible features)

Investment Accounting (4 Yes /4 Known /10 Possible features)

Regulatory & Statutory Reporting (5 Yes /5 Known /10 Possible features)

Integration & Interoperability (4 Yes /4 Known /10 Possible features)

Security & Compliance (7 Yes /7 Known /10 Possible features)

User Experience & Usability (1 Yes /1 Known /10 Possible features)

Reporting & Analytics (6 Yes /6 Known /10 Possible features)

Scalability, Performance & Support (6 Yes /6 Known /10 Possible features)