Accenture's Insurance Sector Capabilities Strengthened by ON Service Group Acquisition
With the acquisition of ON Service Group, we can extend our consulting and technology offerings to managed services and provide an end-to-end service.
Accenture
Accenture, a global professional services company, has acquired ON Service Group, a German insurance specialist, to enhance its business process services in the insurance sector.
ON Service Group, headquartered in Siegburg with offices in Hamburg and Munich, brings over 20 years of experience in delivering operations services for property and casualty, life, and health insurance processes. The company employs around 200 professionals.
Following the acquisition, the ON Service Group team will be integrated into Accenture's Operations business unit, which offers managed services for business processes and technology.
“With the acquisition of ON Service Group, we can extend our consulting and technology offerings to managed services and provide an end-to-end service.” said Christina Raab, market unit lead for Accenture in Germany, Austria and Switzerland.
Tanja Mertin, the leader of Accenture Operations in Germany, Austria, and Switzerland, highlighted the benefits of managed services, stating that businesses can leverage digital capabilities, process expertise, and specialized talent to achieve scalable outcomes quickly. The acquisition of ON Service Group further strengthens Accenture's industry-specific capabilities and services, enabling them to support insurance clients in achieving success and driving growth.
Christina Raab, the market unit lead for Accenture in Germany, Austria, and Switzerland, emphasized the challenges faced by insurance companies, including evolving customer expectations, complex regulatory agendas, and skills shortages. With the acquisition of ON Service Group, Accenture can expand its consulting and technology offerings to include managed services, providing an end-to-end solution for insurance clients.
The financial terms of the deal have not been disclosed. This acquisition is part of Accenture's ongoing M&A campaign, which has seen the company absorb several European firms, including Objectivity, Einr, Optimind, and SKS Group, earlier this year.
By expanding its capabilities in the insurance sector through strategic acquisitions, Accenture aims to better serve its clients and stay at the forefront of the rapidly evolving insurance industry.
