Zurich Insurance Group has signed a five-year deal with Accenture to develop, implement and manage finance and business intelligence applications in multiple countries, including the UK.
The insurer uses SAP-based finance and business intelligence systems, which support processes such as accounts payable, accounts receivable, and balance-sheet reconciliations.
The agreement will enable Zurich, which employs 60,000 people, to free up IT resources for other projects.
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“Our goal is to generate the most value from our applications, working with our finance leadership, to build the foundation for a world-class finance organisation,” said Markus Nordlin, CIO at Zurich.
He said SAP capabilities were important to the deal.
"In this challenging economic environment, insurers need to do more with less,” said John Del Santo, senior managing director of Accenture’s Global Insurance Industry practice.
Zurich also outsources IT applications CSC. Last year it agreed a seven-year extension to a deal originally penned in 2004. CSC manages application maintenance and development services in Switzerland, Canada, Germany, Italy, the UK and the US for the insurance company.