Accenture Claim Components Solution

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Claims continues to be a defining battleground for insurers' profitability and customer service. The Accenture Claim Components Solution helps insurers improve claims effectiveness without adding complexity, in this way increasing profitability and customer satisfaction to enable high performance.

Claims typically represents more than 70 percent of an insurance company’s expense base in the form of claims payments and the cost of processing claims—and yet many insurers are locked into inefficient processes by aging technology. Claims technology needs to be rethought to meet today's challenges.

Accenture Claim Components Solution (Release 8.0) is a Web-based suite of software components that addresses every aspect of the claim, and has an impressive track record of helping insurers achieve high performance.

"Dramatic results can only be achieved by bringing top level performance to every aspect of every claim, by every handler, every day." — Nicole K. Michaels

• Quantified gains: Better control over claims costs, handling expenses and customer service for an improvement in the combined ratio and a reduction in settlement costs.
• Dynamic, real-time claims profiling: The solution tracks more than 150 events and 500 attributes, reacting immediately to changes and setting up appropriate tasks and procedures.
• Single desktop view of the whole claim: All information relating to the claim – documents, notes, tasks etc. – is located in a single place, with everyone involved in the claim sharing the same view.
• End-to-end solution: The entire claims process is covered, from first notice of loss through estimating / reserving / coverage matching all the way to closure of the claim.
• Event-driven multiple parallel workflows: the solution automatically assigns work to claims professionals depending on a variety of factors, and allows more than one person to work simultaneously on the same claim.
• Robust and scalable: Accenture Claim Components Solution has been successfully tested for 17,000 concurrent users on a database of 6 million claims, processing more than 3,000 claims per hour and supporting end-user response times of less than two seconds. The largest implementation to date has 32,000 users.

Other important features include a service-oriented architecture that, among other things, enables multi-channel access; configurability for a variety of business functions; and a component-based design that makes phased implementation practical and less of a risk than a large-scale implementation. In addition to these, Release 8.0 of the solution – launched in February 2009 – includes a self-service portal for customers and agents, extended workers’ compensation first notice of loss, and new automated test tools. Together these enhancements can help insurers lower their project costs and their IT spending. A set of pre-built standard processes, patterns and tasks have also been added to help accelerate insurers’ return on investment.

Accenture Claim Components Solution is used by more than 65,000 claims professionals worldwide, to process approximately 40 million claims a year.

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Accenture has 30 years of experience working with the industry's leading carriers to improve their performance. Years of knowledge and experience are embedded in the Accenture Claim Components Solution, which was launched 10 years ago and is currently being used by 19 leading insurers.

To make Claim Components Solution an insurer's first choice, Accenture has committed extensive resources to research and development. It has also invested heavily in service-oriented architecture to facilitate effortless integration, helping insurers get the most from their IT systems and achieve high performance.

However, helping clients improve their performance calls for more than innovative software. Accenture specializes in implementing the solution on time and within budget, and providing the support needed to realize the full potential of the solution. The capability to offer a total solution comprises a variety of factors:

• A global insurance practice: Accenture’s deep industry knowledge and experience in systems integration are complemented by deployable assets in claims, policy, underwriting, product manufacturing, marketing and distribution, and finance and accounting.
• An established Insurance Solution Group: A dedicated team of 300 product specialists provide ongoing support and development of the Accenture Claim Components Solution.
• Seamless delivery: Our Global Delivery Network has 83,000 professionals located in more than 50 centers. They use standard, proprietary methodologies, tools, architectures, estimations and metrics – and draw on more than 100 alliance partnerships – to provide 24x7 IT and outsourcing support throughout the world.
• A track record of innovation: Accenture’s commitment to innovation is manifest in its software – the Accenture Claim Components Solution has three patents, with a further 35 applications pending – as well as in its Business Process Reference Models, its four Technology Labs and three claims-specific innovation centers, and even its contracting.
• Commitment to long-term partnerships: We have the financial stability, the ability to offer a total solution, and the willingness to share risk and reward that many insurers seek in a service provider.

Read how Accenture helped Royal & SunAlliance transform claims operations.

Accenture Claim Components is a fully Web-based solution, built on a service-oriented architecture, which supports all lines of business from first notice of loss (FNOL) through to financials and reserve management. The solution can help insurers react quickly to market changes and new conditions through process configuration by the end user. Typically this can be done through changes in organization, patterns, assignment rules and task parameters.

In addition to the new automated test tools and the pre-built processes, patterns and tasks, the new version of the Accenture Claim Components Solution (released in February 2009) has been enhanced with support for portal architecture that can help insurers, as well as their agents and brokers, access claims for loss reporting or view the status of their claims. The enhanced solution can also extend the first notice of loss configurable, dynamic questions and answers process to the workers’ compensation line of business.

The upgraded Accenture Claim Components Solution can process more than 3,000 insurance claims per hour and support end-user response times of less than two seconds for 17,000 claims handlers at once, according to a recent performance test conducted by Accenture, Microsoft and HP.