NEW YORK, March 14, 2011 – Accenture’s (NYSE: ACN) claims management system, the Accenture Claim Components, received two XCelent Awards in Celent’s latest report titled “Claims System Vendors: North American P/C Insurance 2011”1. Celent is a leading industry analyst firm focused on the application of information technology in the global financial services industry.
The Accenture Claim Components solution received:
- The XCelent Functionality Award for highest score in “Breadth of Functionality,” which is based on a range of advanced functionalities, variety of lines of businesses and geographies served, and usability.
- The XCelent Service Award, for highest score in “Depth of Service,” which is based on insurers’ feedback on the solution and Celent’s assessment of Accenture services and support.
Launched in November 2010 to acknowledge vendor excellence, Celent’s XCelent Awards are designed to help financial institutions and technology providers stay abreast of industry trends by evaluating the shifting vendor marketplace and awarding technology best practices.
Gilles Biscay, managing director and head of Accenture Software for Insurance, said: “We are honored to receive these awards, and are particularly proud of the XCelent Service Award because it demonstrates our dedication to clients and commitment and capacity to deliver on promises based upon direct feedback from our customers.”
The Accenture Claim Components is a Web-based technology solution designed to help insurers – from the world’s largest to smaller carriers – improve the efficiency of their claims-handling operations through the automation of routine tasks. Currently used by more than 65,000 claims handlers worldwide to process approximately 40 million insurance claims each year, the Accenture Claim Components supports core claims transactions from first notice of loss through to financials and reserve management. The latest release includes enhanced straight-through processing and supplier management functionality and integrates more easily with a wide range of standard software, including mobile technologies, which enable insurers to rapidly and cost-efficiently launch mobile enablement applications for their field force or clients.
“Claims transformation has the potential to provide immediate and sustainable bottom line impact for large and small insurers, but only if it is supported by the right technology solutions,” said John Del Santo, global managing director of Accenture’s Insurance practice. “Our continuous investment in our insurance software is a key pillar in our commitment to providing clients of all size with the best solutions to help drive growth and efficiency.”
1 Celent, “Claims System Vendors: North American P/C Insurance 2011” by Donald Light, January 2011
Accenture is a global management consulting, technology services and outsourcing company, with approximately 211,000 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$21.6 billion for the fiscal year ended Aug. 31, 2010. 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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