Accenture Claims Success Stories. XL, RSA, Leading US Insurer, ACE, Fireman s Fund, Affirmative

Transcription

1 Accenture Claims Success Stories XL, RSA, Leading US Insurer, ACE, Fireman s Fund, Affirmative

2 Success story: Building a global claims management system The Accenture Insurance Podcast Series: Building a Global Claim Management System Presentation by Paul Tuhy, Executive VP and Global Head of Claims, XL Group, at the Accenture Insurance Forum It s not easy, the integration of all that stuff is pretty hard. Although I will say when we converted one of our major offices, we moved over a billion dollars worth of transactions, and we were off by four cents. So that s pretty good. I think the project has been a huge, huge success for XL I don t want to be a salesperson for Accenture, but I will say and I ve said it before I don t think we would have been able to do what we did if it wasn t for them. Paul Tuhy Copyright 2012 Accenture All Rights Reserved. 2

3 Success story: Anatomy of a technology transformation The Accenture Insurance Podcast Series: Anatomy of a Technology Transformation Presentation by James de Watteville, UK Chief Information Officer, RSA, at the Accenture Insurance Forum Great software the products themselves (Accenture Insurance System and Claim Components) are absolutely industrial-strength, bullet-proof sophisticated tools. James de Watteville (Accenture) are, have been and continue to be a very important strategic partner for us It s just so helpful to have a strategic partner that was able to come and look at the world through our lens. James de Watteville, UK CIO, RSA Copyright 2012 Accenture All Rights Reserved. 3

4 Success Story: Accenture helps RSA transform its claims operation Client: RSA is a leading UK-based P&C insurer operating in 34 countries Aim: transform the operational performance of RSA s ongoing business Cut expenses by UK 270 million & reduce COR to 100 percent Challenges: process complexity, inflexibility of legacy systems, intricacy of systems integration Implemented new operating model with rapid claims notification & simple claims settlement, and segmented back-office for complex claims Established offshore claims processing center for claim notification & recovery processing Implemented consistent organization, team & job structures, re-engineered processes Established supply chain arrangements to optimize UK 500 million procurement Implemented Accenture Claim Components Results: Significant contribution to RSA s transformation program Claims indemnity costs cut by >UK 130m p/a, claims expenses by >UK 5m UK operations now handle claims through a single system silos eliminated Workflow with key suppliers enhanced Accenture and RSA s partnership is about more than reducing costs it s about getting RSA ahead of the pack and enabling it to stay there through sustained high performance. Copyright 2012 Accenture All Rights Reserved. 4

5 Success Story: Accenture selected by leading US P&C insurer to provide cloud-based claims software Accenture Claim Components to be delivered on a SaaS basis Client: leading US P&C insurer Aim: provide claims management support on a Software as a Service basis Benefits: ensure variable capacity & better align costs with claims activity volumes Release 10 of Accenture Claim Components will be used for auto claims several million per year Utilizing SaaS with cloud technologies will increase insurer s flexibility & business agility Leveraging leading-edge SaaS-based claims management software will enable insurers to improve the claims reporting and claim handing process, while reducing operating costs, and at the same time deliver meaningful service differentiation at the point of need. Michael A. Jackowski, global managing director of Accenture Software for P&C insurance Copyright 2012 Accenture All Rights Reserved. 5

6 Success Story: Accenture provides claims processing technology to support ACE s personal insurance business ACE s high-net-worth customers to benefit from improved claims processing ACE Private Risk Services personal lines business to utilize Accenture Claim Components Aim: achieve customer satisfaction, profitability & growth "We chose the Accenture Claim Components for its innovative design, deep functionality, and strong track record in the industry. Accenture s understanding of the claims handling process, and its global experience in implementing core insurance systems, make the company an ideal business partner. Bob Courtemanche, CEO, ACE Private Risk Services Copyright 2012 Accenture All Rights Reserved. 6

7 Success Story: Accenture helps Fireman s Fund transform its claims function to achieve high performance Need: enterprise-wide claims platform for all major lines of business Aim: standardized operational model to increase efficiency & improve loss & expense ratios Accenture implemented Claim Components To bring a standard, automated, repeatable processes to all aspect of claims handling To improve control of expenses & customer service Benefits: Improved loss & expense ratios, minimized claim expenses Less time handling claims, so adjusters can spend more time on value-add activities 60% of claims automatically assigned to specialized adjusters Right data to claims adjuster in easy-to-use format Claims data analysis for guiding the adjuster through the most efficient adjudication process Detailed analysis for fraud detection, recovery potential & unwanted payout trends Less time spent on data entry through automation Improved nimbleness through real-time insights into underwriting processes Accenture has met or beaten every delivery date, remaining fully on or under budget. The transformation is enabling Fireman s Fund to address the key areas for high performance in claims. Copyright 2012 Accenture All Rights Reserved. 7

8 Success Story: Affirmative selects Accenture Claim Components Affirmative Insurance Co., distributor & producer of personal non-standard auto insurance Implementation of Accenture Claim Components is part of a transformation program to help centralize & automate claims handling Solution will support core claims transactions from FNOL to final payment First application of Accenture Claim Components in non-standard auto insurance sector Software is used by 5 of the top 10 US carriers Helps process ± one-third of all P&C claims in the US Accenture has also provided outsourced application maintenance & infrastructure services to Affirmative since 2007 The strong track-record, deep functionality and great flexibility of the Accenture Claim Components solution made it an ideal solution to support us in transforming and consolidating our claims operations. Sean McPadden, executive vice president and chief underwriting officer, Affirmative Insurance Co. Copyright 2012 Accenture All Rights Reserved. 8