Accenture Announces Multi-Million Dollar Agreement for Claims Management Support

Strategic Insights -

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)