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April 7, 2009

Accenture unveils enhanced technology services

To help property and casualty and life insurers reduce costs and streamline insurance processes

By CBR Staff Writer

Accenture, a management consulting, technology services and outsourcing company, has unveiled newly enhanced claims, underwriting and policy administration services designed to help property and casualty and life insurers reduce costs and streamline insurance processes.

The company said that the new version of Accenture Claim Components System includes a self-service portal for customers and agents, extended workers’ compensation first notice of loss, and new automated test tools, which can help insurers lower project costs and IT spending.

The company also said that the new Accenture Insurance Solution, Accenture’s property and casualty (P&C) product and policy management solution, provides multi-channel support, including an extended agent website with additional functionalities which cover all policy administration processes and offers one of the widest ranges of online support features available in a commercial product and policy management solution.

The solution also includes a business intelligence system which provides statistical analysis to help insurers manage their full insurance lifecycle. Among the new features are pre-configured products and processes to help insurers reduce the cost and time it takes to implement new policy administration systems.

According to the company, the upgraded Insurance Configuration Components System provides product development productivity tools to help manage product development projects and the release and deployment of those products to distribution channels and customers in a timely fashion.

Accenture has enhanced the Accenture Life Insurance Platform, its life insurance policy administration platform, by adding the capability to help insurers manage group benefit plans. The new system has also been modified to enable internationalization and to support detailed product calculations.

Gilles Biscay, senior executive and insurance solutions lead of Accenture, said: Our newly enhanced solutions are designed to provide advanced processing tools for insurers, while lowering operating costs and reducing the time it takes to implement the solution.

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