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Accenture and Servicenow to enhance user experience for reinsurer SCOR

Accenture in collaboration with American cloud computing company, Servicenow has announced that they will be assisting the reinsurer, SCOR in transforming its internal finance function by digitizing key business processes for the improvement of their workflow management as well as enablement of real-time reporting.

“We at SCOR foresaw how ServiceNow could help us achieve the ‘spreadsheet-free’ vision for our finance function. With its ServiceNow expertise, Accenture has been a valuable partner in helping us build that vision in order to boost productivity, improve how our people work and increase employee satisfaction. Our customers and employees have felt the positive impact of our new state-of-the-art finance function, visible audit trails and real-time reporting capabilities. Our finance transformation is motivating us to continue evolving our business with emerging technologies,” said Marc Henry, head of finance systems, process & controls, and projects at SCOR.

According to the supplier, it assisted SCOR in the implementation of ServiceNow’s Service Portal and Now Platform as the underlying technology. The new system handles around 30 key finance processes. The automated system has allowed for increasing focus on business-critical functions rather than on labour-intensive administrative tasks.

Ciaran Cosgrave, managing director and ServiceNow practice lead for Europe at Accenture, said, “Reinsurers that deal with significant, complex financial transactions are actively embracing new technologies and modernizing processes. By helping SCOR transform processes using some of the latest digital technologies, we’re also enabling employees to gather meaningful insights generated from robotics and automation. Relieving SCOR’s workforce of burdensome administrative tasks will help the company compete more effectively in today’s data-driven economy.”

The tasks that have been completely automated include entity sign off for quarterly reporting, financial adjustments at the quarter-end closing process and bi-weekly intra-group transaction.

SCOR is a reinsurance provider that offers insurance companies with a diversified range of solutions and services to control and manage risk.

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