The deal will help Accenture oversee the whole supply chain and assist customers in increasing their operational efficiency, agility and capacity for growth. Credit: Konektus Photo/Shutterstock.

IT services provider Accenture has purchased German company ON Service GROUP  to enhance its insurance services capabilities.

The financial terms of the transaction were not disclosed.

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Headquartered in Siegburg, Germany, ON Service GROUP offers business process services with a focus on the insurance industry.

Accenture said the deal broadens the scope of its services that German customers can access for insurance-related business operations such as policy administration and sales.

It added that the deal equips Accenture to oversee the whole supply chain and assist customers in increasing their operational efficiency, agility and capacity for growth through digital services.

With more than 20 years of experience, ON Service GROUP supports life, health, and property and casualty insurance operations.

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More than 200 staff with experience in sales and broker support, policy administration, customer service and process transformation will join Accenture Operations from ON Service GROUP.

Accenture Operations Germany, Austria and Switzerland head Tanja Mertin said: “Today, organisations 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.

“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.”

ON Service GROUP CEO Stefan Giesecke 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.”  

In March this year, Accenture agreed to acquire French financial services consultancy Optimind.

Optimind caters to insurance, banking and corporate clients in France and Luxembourg with a team of more than 350 people.