Sompo Japan Selects Accenture to Manage Insurance Claims
Accenture to implement newly enhanced Accenture Claim Components Solution
TOKYO; June 12, 2009 – Sompo Japan Insurance Inc., a leading Japanese property and casualty insurer, has chosen Accenture (NYSE: ACN) and the recently enhanced version of the Accenture Claim Components Solution to process first notice of loss insurance claims for its automobile division.
The Accenture Claim Components Solution is a suite of software components that operates on a robust Web-based platform and is designed to help insurers improve the efficiency and reduce the costs of their claims-handling operations while increasing customer satisfaction. The Accenture Claim Components Solution that will be used at Sompo Japan will feature an enhanced user interface and offers a dynamic and automated "question and answer" architecture that is critical to responsive and flexible first-notice-of-loss capture.
“Flexible, adaptive claims applications are key to the quality of service our customers expect at first notice of loss and to help ensure prompt and fair claims settlement,” said Hiroyuki Tokuoka, a general manager at Sompo Japan Insurance Inc. “We selected Accenture because of its understanding of the claims handling process, its global experience in implementing core insurance systems and because the Accenture Claim Components Solution can be easily integrated with our existing insurance IT platform.”
“Claims processing continues to be a defining battleground for property and casualty insurers’ profitability and customer service,” said Naoyuki Shibata, a senior executive in Accenture’s Financial Services practice. “Thirty years of knowledge and experience embedded in the Accenture Claim Components Solution enables us to help Sompo Japan accelerate while improving its first-notice-of-loss handling process, be more responsive to its customers and thus enhance customer loyalty.”
The Accenture Claim Components Solution can support more than 300 core claims transactions and easily integrates with a full range of claims interfaces, including policy management system, agent portals and third-party systems. The solution, currently used by more than 65,000 claims handlers worldwide, helps process approximately 40 million insurance claims each year. Five of the top 10 U.S insurance carriers and several of the largest insurers in Europe are using the Accenture Claim Components Solution.
About Accenture Accenture is a global management consulting, technology services and outsourcing company. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments With approximately 180,000 people serving clients in over 120 countries, the company generated net revenues of US$23.39 billion for the fiscal year ended Aug. 31, 2008. Its home page is www.accenture.com.
About Sompo Japan Sompo Japan Insurance Inc. (Sompo Japan) was founded in 2002, by a merger of 4 companies: Yasuda Fire and Marine Insurance Co., Ltd., which commenced operations in 1888 as Japan’s first fire insurance company; Nissan Fire & Marine Insurance Co., Ltd., which was established in 1911 as the First Japanese company specializing in personal accident insurance; Taisei Fire & Marine Insurance Co., Ltd., which was originally founded in Taiwan in 1920, and Dai-ichi Property and Casualty Insurance Co., Ltd., founded in 1996.
With more than 17,000 employees, Sompo Japan has established overseas subsidiaries and direct insurance agencies in Europe, North America, Central and South America, China, Southeast Asia and Oceania, maintaining its sales structure to offer services in all main regions of the globe. Its consolidated net premium income for the fiscal year ended March 31, 2009 was 1380.1 billion yen. For more information, please visit http://www.sompo-japan.co.jp/.
Asako Tanaka / Junko Yoshino
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