SIEGBURG, Germany & HAMBURG, Germany--(BUSINESS WIRE)--Oct 18, 2023--
Accenture (NYSE: ACN) has acquired ON Service GROUP, a leading provider of business process services, specialized in insurance operations. Terms of the transaction were not disclosed.
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Accenture has acquired ON Service GROUP, a leading provider of business process services, specialized in insurance operations. (Graphic: Business Wire)
Acquiring ON Service GROUP enhances Accenture’s capabilities in insurance operations, expanding the range of services available to clients in Germany for insurance business processes such as sales and policy administration. The acquisition strengthens Accenture’s ability to manage the entire process chain while helping clients optimize operations, be more agile and drive growth through digital services.
Headquartered in Siegburg, Germany, with additional offices in Hamburg and Munich, ON Service GROUP has more than 20 years of experience delivering high-value operations services across property and casualty, life and health insurance processes. ON Service GROUP brings more than 200 highly qualified professionals to Accenture Operations, with expertise spanning sales and broker support, policy administration, customer support and process transformation.
Having the right skills, data and processes in place today is key to drive growth: according to recent Accenture research, only a few (9%) companies achieved operations maturity but, those that did, averaged 1.4 times higher operating margins and 30% higher customer satisfaction scores.
“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,” said Tanja Mertin, who leads Accenture Operations in Germany, Austria and Switzerland. “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.”
Christina Raab, market unit lead for Accenture in Germany, Austria and Switzerland, added: “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.”
Stefan Giesecke, CEO of ON Service GROUP, said, “Accenture’s global scale and scope will provide our people with exciting new opportunities to take insurance operations to the next level and offer clients one-stop solutions to streamline the entire process chain and drive transformation further. Together we will address the key market demand for agility and innovation, offering new ways to drive growth in disruptive times.”
Forward-Looking Statements
Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “aspires,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook,” “goal,” “target” and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance nor promises that goals or targets will be met, and involve a number of risks, uncertainties and other factors that are difficult to predict and could cause actual results to differ materially from those expressed or implied. These risks include, without limitation, risks that: the transaction might not achieve the anticipated benefits for Accenture; Accenture’s results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and political conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; Accenture’s business depends on generating and maintaining client demand for the company’s services and solutions including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company’s results of operations; if Accenture is unable to match people and their skills with client demand around the world and attract and retain professionals with strong leadership skills, the company’s business, the utilization rate of the company’s professionals and the company’s results of operations may be materially adversely affected; Accenture faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; Accenture’s ability to attract and retain business and employees may depend on its reputation in the marketplace; if Accenture does not successfully manage and develop its relationships with key ecosystem partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; Accenture’s profitability could materially suffer if the company is unable to obtain favorable pricing for its services and solutions, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture’s level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company’s effective tax rate, results of operations, cash flows and financial condition; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; as a result of Accenture’s geographically diverse operations and strategy to continue to grow in key markets around the world, the company is more susceptible to certain risks; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the “Risk Factors” heading in Accenture plc’s most recent Annual Report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.
About Accenture
Accenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent- and innovation-led company with approximately 733,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. We are uniquely able to deliver tangible outcomes because of our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song. These capabilities, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities. Visit us at www.accenture.com.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20231018647252/en/
CONTACT: Samuela Marti
Accenture
+39 329 159 5781
samuela.marti@accenture.comThomas Wittek
Accenture
+49 152 52507486
thomas.wittek@accenture.com
KEYWORD: GERMANY EUROPE
INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY INSURANCE SOFTWARE NETWORKS
SOURCE: Accenture
Copyright Business Wire 2023.
PUB: 10/18/2023 04:09 AM/DISC: 10/18/2023 04:08 AM
http://www.businesswire.com/news/home/20231018647252/en
