Solution Now Available In Europe in Addition to North America
NEW YORK; April 15, 2002 – Accenture (NYSE: ACN) today announced the launch of release 2.0 of its Claim Components software. The Web-based solution, originally launched in North America last year, includes new functionality and is now also available to property/casualty insurers in the United Kingdom, Germany and France.
To develop the enhanced solution, Accenture gathered feedback from more than 20 leading property/casualty insurers and hundreds of claims adjusters and IT executives worldwide to identify how the claims process could be improved. As a result, the enhanced claims software supports multi-language and multi-currency financial transactions and includes several new components designed to help insurers significantly reduce claims-handling time, streamline the claims-handling process and reduce claims-payment errors and overpayments.
One of the new components, a claims profiling capability, uses advanced modeling techniques to identify claims with similar attributes and match them to the appropriate profile. Another new component, the partner integration framework, enables insurers to integrate their claims systems with those of vendors involved in the claims process, including, for instance, fraud detection software companies and auto body repair shops.
“With the increased attention to claims after September 11, property/casualty insurers worldwide are focusing on a range of claims issues this year,” said David P. Hollander, the partner who leads Accenture’s claims solutions group. “We are helping insurers revolutionize the claims process via new technology innovations that can improve most claims operations by three to five percentage points.”
Already in production at five of the eight leading property/casualty insurers to whom Accenture has licensed it, the Claim Components software is designed to reduce development time by 12 to 24 months. More than 7,000 claim handlers are already using the solution at their desktops to achieve breakthrough claims-processing results. The solution is built on ICBA/M (Internet Component-Based Architecture for Microsoft), which was designed to address the scalability and flexibility requirements of large claims-processing applications.
Accenture is the world’s leading management consulting and technology services organization. Through its network of businesses approach – in which the company enhances its consulting and outsourcing expertise through alliances, affiliated companies and other capabilities – Accenture delivers innovations that help clients across all industries quickly realize their visions. With more than 75,000 people in 47 countries, the company generated net revenues of $11.44 billion for the fiscal year ended August 31, 2001. Its home page is www.accenture.com.