Web-Based Application Facilitates Claims Handling and Reduces Claim Leakage
NEW YORK – Jan. 10, 2002 – Accenture (NYSE: ACN) has been selected to license and implement its Web-based Claim Components software application at OneBeacon Insurance Group, a leading property and casualty insurance carrier.
Accenture will work with a core team of OneBeacon business and IT professionals to custom-design the Claim Desktop component of the software, automating critical business processes to help OneBeacon’s 1,000 claims professionals better execute the claim-handling process.
“We believe that Accenture’s solution will enable us to achieve sustained savings of millions of dollars through reductions in claim leakage and improved adjuster productivity,” said Dick Jordan, managing director and chief claims officer at OneBeacon. “The solution will empower our front-line adjusters with a decision-support tool that can help standardize ‘best practices,’ automate routine administrative tasks, and allow them to focus on building core skills to deliver superior results.”
Accenture’s solution leverages reusable net-centric applications built on a component-based architecture. In addition, the solution is accessible via Web browsers and automatically assigns claim-related tasks to the appropriate party, ensuring consistency across multiple levels of claim-handler experience, regardless of geographic location.
“Insurers are looking for ways to quickly deploy innovative solutions to critical business areas, such as claims,” said Dave Hollander, managing partner of Accenture’s Claims Solution group. “Our Web-based claims application, which we’ve already implemented for several leading property and casualty insurers, can shave development time by 12-24 months, yielding business benefits sooner at lower costs.”
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.
Headquartered in Boston, Massachusetts, OneBeacon Insurance Group has an A.M. Best rating of A (excellent) and offers a wide range of personal, commercial and specialty products and services, which are sold exclusively through select independent agents. OneBeacon is a wholly owned subsidiary of White Mountains Insurance Group, Ltd., of Hamilton, Bermuda, whose principal executive offices are in White River Junction, Vermont.