Accenture said on Wednesday that it had bought ON Service GROUP, a provider of business process services, specialized in insurance operations.
Yet, the company did not disclose any financial details of the transaction.
The acquisition is expected to improve Accenture’s capabilities in insurance operations, as it will expand the range of services available to clients in Germany for insurance business processes such as sales and policy administration.
Based in Siegburg, Germany, and having offices in Hamburg and Munich, ON Service GROUP has more than two decades of experience in providing high-value operations services across property and casualty, life and health insurance segments.
The acquisition brings over 200 highly qualified professionals to Accenture Operations, having expertise in areas such as sales and broker support, policy administration, customer support and process transformation.
“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,” Tanja Mertin, the head of Accenture Operations in Germany, Austria and Switzerland, said in a press release.
“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.”
“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,” Christina Raab, market unit lead for Accenture in Germany, Austria and Switzerland, commented.
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