Accenture Announces Multi-Million Dollar Agreement for Claims Management Support

Accenture, a leading global management consulting firm, has announced a multi-million dollar agreement with a top U.S. property and casualty insurer to provide cloud-based claims management support. The agreement will enable the insurer to increase business agility and reduce operating costs through Accenture's Software as a Service (SaaS) claims management platform. The platform, Accenture Claim Components, will be used to process millions of claims each year and provide efficient and accurate claims reporting.

Key Takeaways:

• The agreement is valued at multi-millions of dollars and is a significant win for Accenture's claims management business.
• Accenture's SaaS-based claims management platform, Accenture Claim Components, will be used to process claims for the insurer's automobile line of business.
• The platform supports over 300 core claims transactions and integrates with various claims interfaces, including policy management systems and agent portals.
• Accenture's claims management platform is used by over 65,000 claims handlers worldwide and helps process approximately 40 million insurance claims each year.
• The agreement highlights the growing demand for cloud-based claims management solutions in the insurance industry.
• Accenture received a "Strong Positive" rating in Gartner's "MarketScope for North American Property and Casualty Insurance Claims Management Modules" report for its Accenture Claim Components platform.
• Accenture has a global presence with over 236,000 employees serving clients in more than 120 countries, and generated net revenues of $25.5 billion for the fiscal year ended August 31, 2011.

Statistics:

• The agreement is valued at multi-millions of dollars.
• Accenture's claims management platform supports over 300 core claims transactions.
• The platform is used by over 65,000 claims handlers worldwide.
• The platform helps process approximately 40 million insurance claims each year.
• Accenture has over 236,000 employees serving clients in more than 120 countries.
• The company generated net revenues of $25.5 billion for the fiscal year ended August 31, 2011.

Sources:

• M2 PRESSWIRE via COMTEX (Dec 13, 2011)
• Gartner "MarketScope for North American Property and Casualty Insurance Claims Management Modules" by Kimberly Harris-Ferrante, January 27, 2011
• Accenture website (www.accenture.com)
• Accenture Software website (www.accenture.com/software)