Blockchain solutions for insurance
Accenture is a pioneer of blockchain innovation and its practical, real-world application for insurers.
How can blockchain benefit the insurance industry?
Blockchain promises to reshape the processes that govern insurance, boosting efficiency and productivity.
Blockchain has the potential to drive profound, positive change for insurers.
The insurance industry depends on manual processes to compensate for a lack of trust between parties. These processes keep insurers’ cost bases high, and create customer-experience issues due to delays in policy renewals and claim payouts.
Blockchain automatically embeds trust into insurance transactions and contracts. It can dramatically improve efficiency and productivity for personal lines P&C insurers by substituting automated for manual business processes in claims handling and payment, subrogation, and assessment.
How Accenture can help
We have developed blockchain solutions for leading financial services organizations, focusing on the development of distributed-ledger technologies, thought leadership and patents, the co-innovation of proofs of concept, and the creation of partner ecosystems within and beyond the insurance industry.
Our global team of experts works with each client to help build smart strategies around effective use-cases, investment and implementation. We translate key insurance processes into blockchain-ready procedures and smart contracts.
Accenture is working closely with leaders from across the financial services industry, the academic community and our key technology alliances to move blockchain technology forward. The advantage we offer is the unique interaction between our Innovation Labs and our global consulting organization. All of this is underpinned by our global delivery organization and an unmatched array of technology assets, platforms and methodologies.
What does Accenture have to offer?
An array of blockchain interventions, assets and solutions.
Strategy assessment
Blockchain applicability, business impact and deployment strategy assessment.
Blockchain boot camps
Technology leadership workshops for hands-on, advanced training and rapid prototyping.
Blockchain sandboxes
Rapid development environments featuring a suite of blockchain toolsets, customized proofs of concept and proofs of value, end-to-end existing technology assessment, and configuration and integration recommendations.
Blockchain solution design
Holistic solution design that encompasses people, process, operating model and technology.
Solution build & implementation
Complex implementation management, third party vendor integration and custom coding.
Blockchain assets & solutions
Proprietary software add-ons, such as redaction and key management, including hardened security modules.
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What we think
Insurers are looking at blockchain as a catalyst for business ecosystem transformation.
Creating trust and driving operational excellence as a digital broker.
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Our leaders
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Jamie Solomon
Managing Director – Accenture Technology Strategy
Matt Lehman
Managing Director – Financial Services, P&C Insurance
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