Accenture (NYSE: ACN) and Fadata, one of the leading insurance software vendors in Europe, have been selected to help Russian Standard Insurance, the second-largest life insurance company in Russia, streamline its insurance operations and accelerate the pace at which it launches new products.

Drawing on its systems integration expertise, Accenture is helping Russian Standard Insurance implement INSIS Life, Fadata’s flagship insurance software solution for life insurers.  The new IT solution will further automate Russian Standard Insurance’s policy administration processes, enabling the insurer to reduce operational risks and grow its business without a significant increase in its back-office costs.

“The targeted capabilities of Fadata’s solution combined with Accenture’s success in implementing insurance-specific software solutions and its deep understanding of the Russian market were the key criteria for selecting the two companies for this project,” said Alexey Kochik, Russian Standard Insurance CIO.

Russian Standard Insurance is Fadata’s second client in Russia, following Fadata’s implementation of INSIS Life at Alfa Insurance.