Accenture and SAP have signed an agreement to develop and deliver information technology (IT) and outsourcing solutions for banks and insurance companies worldwide.
The two companies have pledged to offer banks expanded options for the delivery of IT products and services, including standard solutions, custom solutions and business process outsourcing.
Initially, the portfolio will consist of SAP's and Accenture's existing banking and insurance solutions, which support a range of business functions, including insurance claims management, insurance policy administration, core banking operations and risk management. These and other cross-industry solutions for financials and HR, will be sold through dedicated sales and support teams with members from both companies.
Additionally the two companies plan to assign approximately 800 people - to be based in the US, Spain and Germany - to a combined development effort. The development schedule will include work to enhance policy administration solutions for insurance companies and embed country-specific functionality in banking.
The expanded software portfolio will also be deployed by Accenture to extend its current BPO capabilities for banks and insurers.