Accenture has unveiled an enhanced version of its claims management software platform, the Accenture Claim Components, with new business intelligence features to help property and casualty (P&C) insurers process claims more quickly and efficiently and improve customer satisfaction.
The new release of Accenture Claim Components (release 10.1) provides leading edge, out of the box business intelligence, analytics and reporting features, extended recovery and subrogation functionality, and enhanced “codeless configuration” capabilities.
New features include a pre-configured reporting database, which includes more than 150 key performance measures and characteristics, to allow insurers to more easily evaluate their claims management processes and improve claims handling performance. The database enables claims handlers and supervisors to access out of the box reports and dashboards, and use intuitive interfaces to create new reports through easy drill down features. These business intelligent features are driven from Accenture’s experience in working with dozens of high performing claims organizations.
Additional “codeless configuration” features, which further enhance the ability of claims handlers to quickly and easily change the application behavior, through user friendly business rules and without any programming knowledge. The new features include pre-configured business rules to manage claims activities, data and logic which can vary by client, product set, and regulatory jurisdiction.
Extended subrogation functionality, based on Accenture’s analysis of best practices in claims recovery processing, which enables insurers to better identify, track and pursue recoveries.
The upgraded version of Accenture Claim Components provides accelerated data capture for subrogation, including identification of third party carriers and ownership status of vehicles. The new release also features pre-configured business rules for automatic identification of recovery opportunities, and additional “portlets” and automated functionality to support recovery processes by making information directly accessible and generating recovery requests based on payments and confirmed liability.
“With release 10.1, we continue to raise the bar on claims capabilities and business value,” said Michael A. Jackowski, global managing director of Accenture Software for P&C Insurance. “The new release notably provides additional predictive analytics capabilities that give claims professionals insight into all the elements needed to effectively manage a claim. This new version of Accenture Claim Components combined with our other award winning policy administration software, Accenture Duck Creek, enables us to provide insurers of all sizes with one of the most powerful and comprehensive integrated end to end P&C software suites available.”
“Accenture Claim Components is built on more than a decade of experience in working closely with the industry’s most recognized and highly respected insurers, and is founded on a deep understanding of the business processes at the heart of high performance,” said John Del Santo, global managing director of Accenture’s Insurance practice. “We will continue to develop new capabilities focused on taking our clients to the next level of business performance.”
Accenture recently 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 solution.