Security Appliance Market Growth Slows in First Quarter, According to IDC
Source: IDC Press Release View: 296 Date: 2013-06-25

Accenture (NYSE: ACN) has unveiled enhanced versions of its policy administration, claims management and billing software, designed to help property and casualty (P&C) insurers improve customer service by processing policies and claims more efficiently. The software upgrades are engineered to support faster development of insurance products, increasing speed to market and improving ease of use for the carrier, agents and policy holders.

“The ability to recognize and capitalize on industry changes will separate the winners from the others,” said Michael A. Jackowski, global managing director of Accenture Software for P&C Insurance. “Delivering new customer insights, insurance products and enhanced services at speed is clearly the new lifeblood. To that end, we have enhanced our software with configuration and third party integration capabilities to make them easier to implement and to change. We have also implemented several processes to enable our customers to be the highest performing insurers in the industry.”

Accenture Duck Creek Billing (release 5.2) enhancements include:

An intuitive and simplified workflow interface and user navigation to improve productivity of both technical and non-technical users.

Flexible commission options that enable carriers to customize agent commission plans.

Significantly enhanced configurability that enables carriers to smoothly deal with non-standard billing situations such as policy cancellations, out-of-cycle bill types, renewal plan changes, and payments.

The new release of Accenture Claim Components (release 10.3) features:

An expanded library of integration adapters and accelerators, enabling faster and more efficient integration with third party applications.

Enhancements to the software’s codeless configuration, allowing for further flexibility in customization of business event definition and workflows, facilitating easier system behavior changes.

Configuration management upgrade tools that drive faster and more cost efficient upgrades.

Detailed injury benefit processing and financial authority options, resulting in better financial management.

Finally, the new release of Accenture Duck Creek Policy Administration (release 5.2) includes:

A new product modeling feature within Accenture Duck Creek Product Studio. A product lifecycle management component allows business users to experiment with product changes quickly and can improve carrier profitability by delivering new products to market faster.

Updates to Accenture Duck Creek Templates. These ready-to-use and configurable product templates within Accenture Duck Creek Policy Administration accelerate and simplify the process of loading of ISO circulars and rule updates for the U.S. market. Additionally, installation of multiple lines of business can now be automated, helping to reduce update time.

Our latest release demonstrates the synergies our customers gain when using our integrated suite of Duck Creek P&C software,” said Jackowski.” With configurability for both products and process, Accenture Duck Creek Property & Casualty Software delivers faster implementations and upgrades while providing insurers of all sizes with a powerful and comprehensive P&C software suite.”

These new solutions are available now worldwide. Accenture’s policy and claims software offers insurance carriers an integrated suite of software with modules that can be implemented individually or as part of a broader migration strategy. The combined software enables insurers of all sizes to benefit from a flexible suite of P&C software to configure products, transact lines of business and process claims.

About Accenture

Accenture is a global management consulting, technology services and outsourcing company, with approximately 261,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$27.9 billion for the fiscal year ended Aug. 31, 2012. Its home page is www.accenture.com.

Accenture Software combines deep technology acumen with industry knowledge to develop differentiated software products. It offers innovative software-based solutions to enable organizations to meet their business goals and achieve high performance. Its home page is www.accenture.com/software. For P&C Insurance software, its home page is www.accenture.com/pcsoftware. Accenture’s P&C insurance software is also part of Accenture Property & Casualty Insurance Services. By applying its extensive industry knowledge to continuously enhance its software, Accenture helps insurers reduce operating costs, and drive growth through better customer interaction and product innovation.

Functional Market Results

At the functional market level, the Unified Threat Management (UTM) segment saw the largest year-over-year revenue growth at 36.4% and accounted for 37.1% of security appliance revenue in 1Q13, as multi-function appliances continued to drive growth in the overall market. The Firewall/VPN market declined 21.2% year over year, but still represented 20.9% of security appliance revenue in the quarter. The Content Security segment rose by 6.8% compared to the prior year and accounted for 20.3% of the market. IDP saw modest growth of 0.3% compared to the prior year period.

"While businesses continue to explore the opportunities for migrating to a private cloud network as a new technology paradigm, unified security prospects will continue to expand rapidly into other small and medium-size businesses where demand is greater than ever," said Ebenezer Obeng-Nyarkoh, Senior Research Analyst, Worldwide Trackers Group.

IDC’s Worldwide Quarterly Security Appliance Tracker is a quantitative tool for analyzing the global security market on a quarterly basis and is available on demand. The Tracker includes quarterly shipments and revenues (both customer and factory), segmented by vendor, family, model, region, operating system, price band, and security functions.

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community to make fact-based decisions on technology purchases and business strategy. More than 1,000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. For more than 49 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world’s leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com.

Devott Publications
The Selection of the TOP Global Outsourcing Destinations – China TOP 15 (TGOD China TOP 15) Ended and Its Rankings and Research Reports are Now Available Worldwide