Accenture Claim Components Achieving high performance in claims
Driving distinctive claims capabilities In an era of heightened competition, claims processing continues to be a defining battleground for insurance company profitability and customer service. The claims environment has become increasingly complex, time sensitive and data dependent. New and emerging technologies enabling greater information sharing and collaboration have shattered the barriers to traditional claims processing making it more critical than ever for customers, vendors and claims professionals to work in concert to process claims in a seamless fashion. Meeting today s challenges means addressing the technology that supports claims processing. Quite simply, yesterday's solutions do not fit today's problems or tomorrow s opportunities. Lowest common denominator business processes characterized legacy systems functioning with limited data are a principle challenge in achieving high performance in claims. Dramatic and sustainable results can only be attained by applying top level performance to the processing of every aspect of every claim, every day. To improve business agility and the ability to respond rapidly to market change, companies also need more flexible systems rapidly reflecting changes in business conditions, without the need for extensive and lengthy modifications. Accenture Claim Components makes these capabilities possible, serving as the engine for a new operating model that supports the entire claims organization. It provides a unique configuration toolset that gives non-programmers unprecedented power over the application data, screens and processes. 1 Accenture is a pioneer of advanced claims capabilities built on more than a decade of experience in working closely with the industry s most recognized and respected insurers. Founded on a deep understanding of the business processes at the heart of high performance, we continue to raise the bar on claims capabilities and business value. With the option to choose the right model that is tailored to specific implementation and pricing needs, insurers of all sizes are taking advantage of Accenture Claim Components software. Insurers can benefit from Accenture Claim Components either through traditional licensing agreements, or by subscribing to our Software as a Service (SaaS) model. This model provides full Accenture support and services, typically on a pay per Claim basis, which can lead to substantial Total Cost of Ownership (TCO) improvements. With over 20 patents and about 40 patents pending, Accenture Claim Components offers highly componentized software that features a unique set of capabilities for insurers looking to increase competitive advantage, including: A First Notice of Loss module which captures initial loss information, arranges supplier services and initiates straight-through processing. This module can be implemented as a standalone product. A core claim desktop application, which can also be implemented as a standalone product, that provides unified end-to-end access to all information and tools needed to process claims from setup to final payment including: - A claim handler agenda that reflects the insurers procedures and adoption of best practices. - Access to all claims data and advanced automation and collaboration that enables key contributors across the claims process. - Real time dashboards and configurable operational reports that support claim handlers and their supervisors. Claim Financials, which is set of components that manages all of the financial transactions necessary to replace existing legacy claims systems. Each component is powered by advanced configuration provided by a unique set of consoles that enable dynamic, nonprogrammer creation of: Workflows and tasks Forms and correspondence Business process rules Data fields Screen layout At a glance Accenture Claim Components: Supports the full range of Property and Casualty lines of business and claims types. Is employed by the world s leading insurers, including one client reporting 32,000 users. Is a leading claims management software rated strong positive by Gartner and winner of two XCelent awards by Celent. Is licensed in 26 countries. Is used by more than 65,000 claims professionals worldwide. Manages more than 40 million claims a year.
Accenture Claim Components features Part of a comprehensive solution, Accenture Claim Components provides insurers with broad functionality and the proven ability to optimize the claims function delivering significant cost reductions, enhanced customer service and a strong foundation for sustained growth. The claim handler s desktop First Notice of Loss The First Notice of Loss (FNOL) application employs dynamic dialogue a series of questions that prompt handlers for required information to capture the initial loss data typically initiated in the insurer s call center. The questions are easily configurable and can appear based on product, line of business or any characteristic chosen by insurer. Customer service portal The customer service portal provides policyholders, agents and brokers with the ability to set up a new claim, attach documentation and access information regarding a claim s status. Easily hosted on the insurer s own infrastructure, the customer service portal is fully integrated to interact real-time with Accenture Claim Components core systems. As a result, insurers gain all the expected benefits of a self-service portal: better service, faster claims handling and reduced administrative costs. Claims agenda Claims processing is a complex workflow involving multiple contributors in the delivery of a completed claim. The claims agenda capability embeds all tasks, manually or automatically generated, and enables quick access to the claim and its relevant screens. The central claim folder The central claim folder is the control room and central navigation point within the whole claim context, holding: Policy information Insured and claimants Damages and injury management Subrogation and recovery File notes including external documents such as letters and pictures. Quick links, context-sensitive menu items and configurable side portlets help users to quickly access the information they need to accelerate processing. In addition, users can manage all financial transactions necessary from the central claim folder. Dashboards and operational reports Our dashboards provide real-time views of claims performance and claims personnel performance in easy-to-understand visual formats. These dashboards and reports are user-configured and support additional drill-down capability for detailed information across several Key Performance Indicators (KPIs). The drill-down functionality enables supervisors to manage their teams, helps claim handlers to manage their caseloads, and supports claims leadership in monitoring performance and trends over any period of time, either across the organization or for specified focus areas. 2
Configuration consoles Accenture Claim Components is unmatched in providing leading-edge configurability. Reconfiguring the solution is easy, which makes process changes, upgrades and maintenance less complicated and less costly. In a market that is constantly changing, our software provides the flexibility insurers need to grow and adapt quickly and confidently. Configuration consoles provide insurers with the ability to configure the packaged software application to meet their requirements, without any programming knowledge. The consoles provide business analysts the unique ability to edit new data fields screen layout changes and event-based processing rules and are totally independent from the software code. Data dictionary console The data dictionary console enables the creation of custom data fields that extend our standard database to accommodate additional information requirements specific to a company s business environment. Each major business object (policy, claim, damages etc.) can receive such an extension. Screen designer console The screen designer console gives business analysts the ability to change the layout and behaviors of screens, through simple click and drag operations. Using simple business rules, screens can be configured to display specific data fields to help drive new insurance behaviors aligned to scenarios such as country or line of business. Rules console One of the most advanced and distinctive features of Accenture Claim Components is its ability to change the application s behavior through configurable rules and activities. Each major application event (e.g. new claim, claim closed, damages changed, reserve modified) represents an action point around which rules can be created to describe additional processing enabling the ability to create completely custom behaviors. Accenture Claim Components won Celent s XCelent Breadth of Functionality Award and XCelent Depth of Service Award in their Claims System Vendors: North American P/C Insurance 2011 report. The Accenture Property and Casualty software suite Our Property and Casualty (P&C) software suite, which comprises of Accenture Duck Creek and Accenture Claim Components offers modern, functionally rich applications to help insurers of all sizes achieve high performance. It is an industry-leading suite of software with one of the most comprehensive suites of processing capabilities for the P&C insurance market from product configuration and definition to policy management, including underwriting, billing, rating, ISO-based products support and claims management. Accenture Software is committed to offering insurers a full suite of P&C software with independent but interoperable modules that cover all core insurance functions. The software is designed to address insurers business requirements while helping reduce implementation time and risk. Third Party Services and Adapters Direct Bill Commission Processing Billing Distribution and Access Agency Bill General Journal Dashboards and Reporting Connectivity Policy Administration Distribution and Access Product Configuration Core Policy Administration Clients will also benefit from continual access to Accenture s ongoing R&D investments into advanced technologies, and can rely on our commitment to providing standard upgradable software, backed by valuable and cost-effective software maintenance services. Policy Servicing Underwriting Management Dashboards and Reporting Connectivity First Notice of Loss Pattern Analysis Claims Distribution and Access Claim Folder Claim Financials Dashboards and Reporting Third Party Services and Adapters 3
Workflow console The claims processing workflow is configured through the creation of task templates. The templates define task ownership, timelines and order of priority, and they link each task to its triggering events and business rules. This enables the creation of new workflows that can be made specific to an office, subsidiary or country. Advanced technologies Accenture Software, our dedicated software business with approximately 2,400 professionals globally, maintains an ongoing commitment to new and emerging technologies by leveraging numerous Accenture technology and industry initiatives. Accenture Claim Components is developed to leverage these advanced technologies, effectively balancing those ready for business application today while preparing for future business needs. Accenture Software for Insurance provides insurers with leading technology that is tested and proven for the rigors of an insurer s business environment. Browser-based application Accenture Claim Components is a browser-based application that does not require installation of local components to run. Simply connect to the insurer s intranet no workstation installation or upgrade required. Architecture The architecture component incorporates Microsoft s.net framework technology giving insurers the flexibility to scale environments to support thousands of claims adjusters. Certified on Microsoft SQL Server Database, our high end performance testing benchmarks support proven performance for up to 17,000 users and over 6,000,000 claims. Mobility Accenture Claim Components leverages ongoing advancements in technology to provide mobile-based applications that help to enable better client service and field force enablement. These applications serve as the basis for full scale deployments for field adjusters, for example, to provide reports, photographs and on-site visit comments. Analytics Analytics has become the next frontier in claims processing supporting a range of new capabilities from stemming customer attrition to combating fraud and predictive loss reserving. Accenture Software has teamed with SAS software to develop a standardized, event-based fraud analytics application to drive greater system performance and value. Collaboration Another distinctive feature of Accenture Claim Components is the inclusion of the latest collaboration tools and devices, enabling accelerated, higher-quality claims processing. Accenture Claim Components received a Strong Positive the highest possible rating given in Gartner s January 2011 MarketScope for North American Property and Casualty Insurance Claims Management Modules. 4
Driving business value Insurers that achieve high performance have recognized that claims represent a significant opportunity for cost reduction, as well as service improvement, sustainable growth and profitability. A comprehensive approach to claims optimization results in a claims function characterized by: Premier customer service. A data-driven claims life cycle. Lower settlement costs and an improvement in claims outcomes. A lower unit cost per claim. Reduced IT costs. Reinvention of the role of the claims professional. The creation and fostering of an outcomes-focused culture. Greater control by the business over processes and content through user configuration consoles. Increased speed to market for new products and geographies. Accenture Claim Components raises the performance of claims handlers through configurable, highly refined business rules and automated handling all of which support the variations inherent in the global insurance industry, without adding complexity. Leveraging our knowledge of high performance processes, Accenture Claim Components facilitates highly consistent claims execution practices while providing real-time access to claim status. As a result, claims organizations can reduce costs from claims losses, lower loss adjustment expenses, improve products and enhance customer service. It s not just a good claims system, it s also a business system that analyses everything we do. It s made us look internally at our workflows and given us the ability to report better, aligning different trending analyses of data, which helps the business units become more competitive. That s a huge advantage of the system. What s more, we re under budget and on schedule, and I don t think we d be there without Accenture. Paul Tuhy, Executive Vice President and Global Head of Claims, XL Insurance 5
Why Accenture Claim Components? Accenture is a pioneer of advanced claims capabilities. Accenture Claim Components integrates Accenture s experience of more than 30 years in the insurance industry into its applications and embeds industry best practices defining the current state of claims excellence. Only Accenture offers end-to-end solutions that combine industry-leading software and services. Insurers that select Accenture Claim Components gain an offering that is suitable for insurers of all sizes, with pricing and implementation options tailored to the model they choose. Insurers also gain: Access to our industry-leading P&C software suite, comprising the Accenture Duck Creek Policy Administration, Billing, and Rating solutions, and Accenture Claim Components. Our P&C software is a comprehensive and configurable solution for the P&C insurance market from product configuration and definition to policy management and underwriting, billing, rating, ISO-based products support and claims management. World-class claims software inspired by extensive client experiences solving real business challenges. A commitment to innovation founded upon Accenture s High Performance Business research program and our network of Technology Labs and Innovation Centers. Accenture s deep experience of the insurance business backed by 10,000 insurance practitioners with extensive knowledge of insurance processes, systems integration, optimized sourcing and IT. A vast global delivery network comprising 100,000 professionals in some 50 countries and a proven set of proprietary tools and methodologies. A comprehensive solution with the proven ability to optimize the claims function delivering significant cost reductions, enhanced customer service, and a stronger foundation for sustained growth. Accenture Claim Components is the right solution for insurers looking to achieve high performance. To find out how your organization could benefit from Accenture s comprehensive approach to claims transformation, visit www.accenture.com/claimssoftware. "Allstate has reinvented the claim handling process to enhance the customer experience. We have realized an estimated 30 percent reduction in the average time to inspect, resolve and settle a claim." Michael J. Roche, Senior Vice President of Claims, Allstate 6
Contact us Find out how Accenture Claim Components can help your organization achieve high performance: North America Gregory Osborne +1 803 727 6454 gregory.r.osborne@accenture.com Europe, Africa and Latin America United Kingdom, Ireland and Nordic Julian James +44 (0) 7793 822084 julian.james@accenture.com Balaji Krishnan +44 (0) 2078 449302 balaji.r.krishnan@accenture.com Other countries Didier Millet +33 15323 6469 didier.millet@accenture.com Asia Pacific Glenn Rogers +61 (0) 4577 19147 glenn.rogers@accenture.com Alternatively, contact us at insurancesoftware@accenture.com Or visit www.accenture.com/claimssoftware for more information. The MarketScope is copyrighted 2011 by Gartner, Inc. and is reused with permission. The MarketScope is an evaluation of a marketplace at and for a specific time period. It depicts Gartner s analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the MarketScope, and does not advise technology users to select only those vendors with the highest rating. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. About Accenture Accenture is a global management consulting, technology services and outsourcing company, with approximately 236,000 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$25.5 billion for the fiscal year ended Aug. 31, 2011. 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. Copyright 2011 Accenture All rights reserved. Accenture, its Signature, and High Performance Delivered are trademarks of Accenture. 11-2750