This Italian company’s massive growth is the result of its rapid application development environment—ACE or Analytics Configuration Environment.
I think this is quite a significant announcement because it adds an important piece of the analytics puzzle for Accenture. ACE allows i4C to develop applications that use predictive analytics rapidly, and to plug them easily into business processes. It also gives insurers a powerful set of off-the-shelf tools that will make it easy to supervise and control the extent to which predictive analytics is used to influence business decisions taken when interacting with clients and during business transactions.
You can read all the details in our press release, but I’m alerting you to it because of the significance of this acquisition for digital transformation. As we all know, the ability to gather and then use data more effectively is one of the promises of becoming digital insurers—and participants at our recent Digital Insurer Network meeting identified data as both a risk and an opportunity.
A risk because new entrants may have more data than we have, and may be more skilled at using it. And an opportunity because it can be used to refine and personalize the customer experience, which research tells us is what customers want.
I hope you cracked the puzzle of this company’s name!