October 25, 2012
Accenture Releases New Version of its Insurance Claims Management Software
Upgrades to Accenture Claim Components include enhancements in configuration flexibility in core functional areas, enabling insurers to streamline processes
NEW YORK; October 25, 2012 – Accenture (NYSE: ACN) has unveiled an enhanced version of its claims management software platform, Accenture Claim Components, designed to help property and casualty (P&C) insurers process claims more quickly and efficiently and improve customer satisfaction. Accenture Claim Components was upgraded to support increasingly complex insurance policy products with more flexible claim definitions, improving ease of use for adjusters and claims professionals.
“Our new release of Accenture Claim Components was designed by our clients with contemporary functionality to help solve the biggest issues carriers are dealing with on a daily basis,” said Michael A. Jackowski, global managing director of Accenture Software for P&C Insurance. “Speed to market is critical today and our new claims release improves implementation and configurability from an architectural and process standpoint, allowing smoother workflow and faster claims processing. Coupled with our other award-winning software – Accenture Duck Creek Policy Administration – it allows us to provide insurers of all sizes with one of the most powerful and comprehensive integrated P&C software suites available.”
The new release of Accenture Claim Components (release 10.2) top features:
- A single claims folder: The upgraded Accenture Claim Components provides support for packaging multiple claim types from the same loss, which allows for the consolidation of previously separate claims into a single folder. This gives adjusters greater control over complex claims while enabling more efficient processing and better customer service.
- Multiple claims formats: The system architecture was updated to support multi-national formats for claims data records, enabling companies to implement Accenture Claim Components more efficiently across multiple geographies.
- Enhanced data tools: Data management tools were enhanced to integrate seamlessly with any legacy third-party claims system to give claims handling teams greater control over configuration data. This facilitates easier collaboration across teams and enables smooth upgrades as functional capabilities are added.
- Precise claims history: More granular claim and file notes security capabilities were added to increase the precision of claims history view and access rights.
Additionally, enhanced workflow navigation and improved channel configuration capabilities are featured.
“The impact of the claims function on insurers’ market perception, customer loyalty, and overall profitability is significant,” said John Del Santo, global managing director of Accenture’s Insurance practice. “The upgraded Accenture Claim Components helps them meet this challenge by providing unmatched configuration flexibility, addressing changing consumer expectations and optimizing claims outcomes. Our claims software is used by insurers that have tens of thousands of claims handlers and by smaller organizations with only few hundreds professionals. In both cases, we are focused on taking our clients to the next level of claims performance.”
Accenture received a “Strong Positive” – the highest possible rating, in Gartner’s latest “MarketScope for North American Property and Casualty Insurance Claims Management Modules” for its Accenture Claim Components solution1.
Gartner “MarketScope for North American Property and Casualty Insurance Claims Management Modules” by Jeff Haner, March 28, 2012.
About the MarketScope
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Accenture is a global management consulting, technology services and outsourcing company, with 257,000 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$27.9 billion for the fiscal year ended Aug. 31, 2012. 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. For P&C Insurance software, its home page is www.accenture.com/pcsoftware.
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