Accenture and SAP Launch Claims Management Solution for Midsize Insurers
Pre-configured Solution Can Significantly Reduce Implementation Time
BOSTON, Mass., May 18, 2005 – Accenture and SAP America, Inc., a subsidiary of SAP (NYSE: SAP), today launched a claims management solution with pre-configured business content designed to help midsize insurers reduce the costs, risks and time it takes to implement new claims management systems. The solution was developed under an alliance between Accenture and SAP, announced in September 2003, to create information technology solutions for banks and insurance companies worldwide. The announcement was made at SAPPHIRE® ’05, SAP’s international customer conference, being held in Boston, Massachusetts, May 17 - 19.
Combining Accenture’s claims-process knowledge and systems integration experience with SAP’s software expertise, the new solution is designed to help midsize insurers more quickly deploy a claims management system that can help reduce operational costs and improve customer service through more efficient claims processing.
Accenture and SAP developed the solution to help address the demand for claims solutions priced and scaled to address the needs of midsize insurers. According to a recent Celent report, which surveyed senior insurance information technology executives, midsize insurers are placing renewed focus on growth initiatives, with claims management ranking as one of the top five priorities.
The offering is comprised of Accenture-built business content, core system interfaces and implementation services, linked to SAP’s existing claims management application. The pre-configured business content is comprised of general insurance information that may apply to all lines of business.
Because portions of the solution are pre-configured, certain general key elements for personal property and automotive lines can be up and running more quickly than totally customized solutions. The solution can help reduce the number of days it takes insurers to implement and configure a new claims management system by up to 30 to 50 percent on average, depending on a carrier’s requirements and book of business.
SAP® Claims Management is an industry-leading packaged application that delivers improved first notice of loss capability, integrated claims financials and disbursements, sophisticated claims analytics and reporting and robust vendor management. It also includes capabilities for fraud detection, litigation management, salvage and subrogation. The SAP application helps shorten claims processing times, increase adjuster productivity and reduce redundant and manual processing.
“The pre-configured claims solution can help provide midsize insurance carriers with the ability to implement a premium solution, priced at the value of midmarket economics,” said Colin Davies, managing partner of Accenture’s Financial Services Solution Group in North America. “The launch of this offering further extends the commitment of the strategic alliance between SAP and Accenture in financial services and provides midsize insurers with a much-needed option that not only can help speed up implementation but can also provide enhanced business interfaces pre-built by Accenture.”
“Together with Accenture we leveraged the direct feedback received from customers and experts in the industry to package a reasonably priced claims solution that can show value in as little as six months,” said Peter MacPherson, vice president, Insurance business unit, SAP America, Inc. “This offering will help midmarket insurers realize the benefits of an innovative claims management system that can significantly improve their claims processing speeds.”
The new solution is now available in the United States.
Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills and technologies to help clients improve their performance. With more than 110,000 people in 48 countries, the company generated net revenues of US$13.67 billion for the fiscal year ended Aug. 31, 2004. Its home page is www.accenture.com.
SAP is the world’s leading provider of business software solutions*. Today, more than 27,000 customers in over 120 countries run more than 91,500 installations of SAP® software—from distinct solutions addressing the needs of small and midsize businesses to enterprise-scale suite solutions for global organizations. Powered by the SAP NetWeaver™ platform to drive innovation and enable business change, mySAP™ Business Suite solutions are helping enterprises around the world improve customer relationships, enhance partner collaboration and create efficiencies across their supply chains and business operations. SAP industry solutions support the unique business processes of more than 25 industry segments, including high tech, retail, public sector and financial services. With subsidiaries in more than 50 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE under the symbol “SAP.” (Additional information at www.sap.com.)