Accenture (NYSE: ACN) has acquired ON Service GROUP, a provider of business process services, specialized in insurance operations.
Terms of the transaction were “not disclosed.”
Acquiring ON Service GROUP enhances Accenture’s capabilities “in insurance operations, expanding the range of services available to clients in Germany for insurance business processes such as sales and policy administration.”
The acquisition strengthens Accenture’s ability “to manage the entire process chain while helping clients optimize operations, be more agile and drive growth through digital services.”
Headquartered in Siegburg, Germany, “with additional offices in Hamburg and Munich, ON Service GROUP has more than 20 years of experience delivering high-value operations services across property and casualty, life and health insurance processes.”
ON Service GROUP brings “more than 200 highly qualified professionals to Accenture Operations, with expertise spanning sales and broker support, policy administration, customer support and process transformation.”
Having the right skills, data and processes in place today “is key to drive growth: according to recent Accenture research, only a few (9%) companies achieved operations maturity but, those that did, averaged 1.4 times higher operating margins and 30% higher customer satisfaction scores.”
Tanja Mertin, who leads Accenture Operations in Germany, Austria and Switzerland, said:
“Today, organizations need to reinvent every area of their enterprise, continually, to remain relevant. By using strategic managed services, businesses can effectively gain access to digital capabilities, process expertise and specialist talent to quickly deliver outcomes at scale. With the acquisition of ON Service GROUP, we are further enhancing our industry specific capabilities and services to help our insurance clients succeed and drive growth.”
Christina Raab, market unit lead for Accenture in Germany, Austria and Switzerland, added:
“Ever-changing customer expectations, a complex regulatory agenda and skills shortages – these are just some of the challenges that companies in Germany are facing, including the insurance industry. To speed up transformation and accelerate growth, CEOs and C-suites should focus on leveraging the full potential of data, technology and people, and be open to innovate processes. With the acquisition of ON Service GROUP we will be fully equipped to help insurers achieve these goals.”
Stefan Giesecke, CEO of ON Service GROUP, said:
“Accenture’s global scale and scope will provide our people with exciting new opportunities to take insurance operations to the next level and offer clients one-stop solutions to streamline the entire process chain and drive transformation further. Together we will address the key market demand for agility and innovation, offering new ways to drive growth in disruptive times.”