December 12, 2011
Accenture Selected by Leading U.S. Property & Casualty Insurer to Provide Cloud-Based Claims Software
Accenture Claim Components to be delivered on a Software as a Service basis
NEW YORK; Dec. 12, 2011 – Accenture (NYSE: ACN) has announced a multi-million dollar agreement with a leading U.S. property and casualty (P&C) insurer to provide claims management support on a Software as a Service (SaaS) basis. Delivered from the cloud, Accenture’s claims management services will allow carriers to have variable capacity and better align costs with the volume of claims activity.
Under the agreement, the latest version of the Accenture Claim Components (Release 10) will be leveraged to process claims management operations for the insurer’s automobile line of business. The new installation will complement and upgrade the insurer’s current version of the Accenture Claim Components to handle the several million claims the insurer processes each year. By utilizing the claims application in a SaaS-based model, while leveraging cloud technologies, the insurer will increase its flexibility and business agility.
“Leveraging leading-edge SaaS-based claims management software will enable insurers to improve the claims reporting and claim handing process, while reducing operating costs, and at the same time deliver meaningful service differentiation at the point of need,” said Michael A. Jackowski, global managing director of Accenture Software for P&C insurance
John Del Santo, global managing director of Accenture’s Insurance practice, said: “Enabling efficient and accurate claims reporting is key to improving customer satisfaction and loyalty because it’s the point where policy holders can evaluate how effectively their insurer is handling their claims when they need them the most.”
Accenture Claim Components is a leading claims processing software platform which supports more than 300 core claims transactions and integrates with a full range of claims interfaces, including policy management systems, agent portals and third-party systems. The highly configurable software is currently used by more than 65,000 claims handlers worldwide and helps process approximately 40 million insurance claims each year. Earlier this year, Accenture received a “Strong Positive” – the highest possible rating given – in Gartner’s report entitled “MarketScope for North American Property and Casualty Insurance Claims Management Modules”1 for its Accenture Claim Components platform.
1 Gartner “MarketScope for North American Property and Casualty Insurance Claims Management Modules” by Kimberly Harris-Ferrante, January 27, 2011.
About the MarketScope
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Accenture is a global management consulting, technology services and outsourcing company, with approximately 236,000 people serving clients in more than 120 countries. 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. The company generated net revenues of US$25.5 billion for the fiscal year ended Aug. 31, 2011. Its home page is www.accenture.com.
Accenture Software combines deep technology acumen with industry knowledge to develop differentiated software products. It offers innovative software-based solutions to enable organizations to meet their business goals and achieve high performance. Its home page is www.accenture.com/software.
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