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Policy Administration

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Navy Mutual Aid Association Selects Accenture

The insurer will license and implement policy admin software for its life and annuities lines.

The Navy Mutual Aid Association, an Arlington, Va.-based nonprofit life and annuities carrier for active duty, reserve and retired members of the US sea services, has selected The Accenture (New York) Life Insurance Platform.

The Accenture system will support all of Navy Mutual’s policy administration and new business functions. Accenture will also help Navy Mutual securely migrate all of its policies from its legacy systems to the new platform using its Insurance Data Migration Factory system.

“This systems replacement program is critical to support Navy Mutual’s growth agenda as the new platform will allow us to more easily create products that meet our members’ needs and bring these to market faster,” said Tom Benton, Vice President, Technology and Systems, Navy Mutual Aid Association. “We selected Accenture because they came with a perfectly adapted, cost-effective, all-in-one solution that met our accelerated timelines with software and implementation expertise and policy conversion capabilities. In addition, the Accenture Life Insurance Platform provides support across the full policy life cycle and integrates easily with our other existing systems, thereby offering a single provider solution enabling true straight-through processing.”

Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio

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