choosing the right path to improving your claims systems

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Page 1: Choosing the Right Path to Improving Your Claims Systems

Choosing the Right Path to Improving Your

Claims Systems - Patti Griffin

America’s Claims Event – June 19 to 21, 2013, Austin, TX

Page 2: Choosing the Right Path to Improving Your Claims Systems

Accenture Software

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Copyright © 2013 Accenture All rights reserved. 3

World Class Software

• 725+ Accenture Software P&C employees.

• Accenture P&C Software is built on decades of Insurance software experience.

• Supports the full range of Property and Casualty lines of business across the insurance organization.

• Our software has been “battle tested” for performance and scale by some of the largest P&C Insurance Companies.

• Accenture Software Client Services provides global and cost effective coverage for all of our Insurance products around Policy, Billing, Claims, and Data Migration.

• We build software with legacy environments and the practical application of technology in mind.

• Technology innovation is at the heart of what we do

– Multiple delivery models

– Multi geography

– Cloud-ready

Powered by Accenture

• Accenture Software applies the best of Accenture’s

knowledge and experience.

• Our software is designed leveraging Accenture’s

deep industry knowledge and understanding of high

performance business processes.

Insurance Customer Facts

• Our solutions have been embraced by 100+ Global

P&C Software Customers.

• And has Processed:

– Peak catastrophe activity of over 42,000 claims

per day

– 750,000 policies quoted in single day by single

system

Accenture Software for P&C

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Copyright © 2013 Accenture All rights reserved. 4

A Complete Property & Casualty Suite

Streamlines processes and get products to market faster and enables agents and

underwriters to communicate

Unsurpassed rating and rules

engineutilized as a

black-box rating engine or as a

component within policy

administration

Off-the-shelf complete product

definitions for all ISO commercial lines of business

plus workers’ compensation

Delivering ultimate flexibility,

performance and efficiencies for billing and receivables

management processes

An innovative new product definition and configuration

suite that allows business

people to make market changes

Quality – Innovation – Speed – Performance – Flexibility

End-to-end claims

management solution covering claims functions from first notice

of loss to settlement and recovery, for all

lines of business

Page 5: Choosing the Right Path to Improving Your Claims Systems

Choosing the Right Path to Improving Your Claims System

Page 6: Choosing the Right Path to Improving Your Claims Systems

Copyright © 2013 Accenture All rights reserved. 7

Insurance Technology Innovation

Most insurance innovation has been driven externally; not

internally

That’s especially true with claims

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History of Claims Technology Innovation

Late 1800’s 1960’sEarly 1900’s 1970’s

1980’s Mid 1990’s Early 2000’s 2005

The rate of development and advancement has been accelerating

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2007 Established the New Normal

Mobile platforms for adjusters and consumers

Power Tools

Amazing Capabilities in the Palm of Your Hand

2007 2013

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What’s Possible Today

Consumer Loss Reporting

Adjuster Appointment Routing

Near Real-time Accident Location Photos

Onsite CAT Entry and Settlement

Mobile Field Adjusting

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Achieving a Modern Enterprise

Customer Satisfaction

Adjuster Efficiency

Expenses

Loss Costs

Most Claims Systems are too old to embrace the new normal for claims processing

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Copyright © 2013 Accenture All rights reserved. 12

Survey of the Industry

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Copyright © 2013 Accenture All rights reserved. 13

Three Areas of Concern

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Modernity and Flexibility Sought

Most claims systems lack the ability to support easily changing systems’ behaviors / processes or address evolving consumers demands

40% answered “not at all”

17% answered “to a great extent”

43% answered “to some extent”

Ability to change system behavior without IT intervention:

Page 14: Choosing the Right Path to Improving Your Claims Systems

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Modernity and Flexibility Sought

Most claims systems lack the ability to support easily changing systems’ behaviors / processes or address evolving consumers demands

15% answered “to a great extent”

21% answered “not at all”

64% answered “to some extent”

Ability to address shifting consumer demands:

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Copyright © 2013 Accenture All rights reserved. 16

Legacy Platforms

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Copyright © 2013 Accenture All rights reserved. 17

Multiple Claims Systems

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Copyright © 2013 Accenture All rights reserved. 18

SaaS as an IT Option

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Copyright © 2013 Accenture All rights reserved. 19

Core System Replacement

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Core System Replacement

High IT maintenance expenses for system changes and support

Does not adapt well to new technology

Data scattered across multiple systems

Inability for customer to “self-service”

Claims is fighting for priority across all IT projects

Challenge

Configuration tools to manage system behavior and claim department needs

Common integration tools with prebuilt adapters – supporting utilization of emerging tools and technology

SaaS shifts the IT maintenance to the solution provider

Solution

Drive efficiencies and customer service with analytics, mobility, telematics, workflow

Increased adjuster efficiency and effectiveness for managing information

Speed to market for business changes

Lower implementation and ownership costs

Business Value

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Copyright © 2013 Accenture All rights reserved. 21

Offline Data

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Analytics

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Data

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Data and Analytics

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Data and Analytics

Valuable information Is stored in separate locations, including offline files like Excel

Information cannot be easily accessed and utilized by claim staff

Lack of consolidated information for reporting or analysis

Missed opportunities to proactively manage the business

Capture of data, files, notes and documents electronically in one place

Information transparency for all adjusters in all locations, including the field

One central location for real-time viewing and managing of claim information

Better access to data, improving investigations and outcomes

Collaboration fostered among adjusting staff

Analytics and proactive claim management enabled by data centralized in an electronic claim file

Challenge

Business Value

Solution

Page 25: Choosing the Right Path to Improving Your Claims Systems

Copyright © 2013 Accenture All rights reserved. 26

We Are Hiring!

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Copyright © 2013 Accenture All rights reserved. 27

Skilled Hires

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Copyright © 2013 Accenture All rights reserved. 28

Workforce Growth

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Workforce Growth

Accenture research paper: Insurance User Experiences by Design: Satisfying the Needs of Four Major User Segments

The Free Spirit The Go-Getter

The Enthusiast The Data Junkie

Claims Systems Must Meet the Expectations of a Technical Workforce with Different Needs and

Expectations

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Copyright © 2013 Accenture All rights reserved. 30

Workforce Growth

The Free Spirit The Go-Getter

The Data Junkie

Claims Systems Must Meet the Expectations of a Technical Workforce with Different Needs and

Expectations

Want freedom of being on-the-go

Uses multiple devices

Example: Adjuster working multiple devices for a claim investigation

System needs:

• Responsive – supports multiple devices

• Contextual – incorporating cameras, voice recorders, GPS

• Expert-driven – advanced features / workflow

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Workforce Growth

The Free Spirit The Go-Getter

The Data Junkie

Claims Systems Must Meet the Expectations of a Technical Workforce with Different Needs and

Expectations

Want a collaborative atmosphere

Highly skilled but easily distracted

A modern user

Example: Visually adding information to a claim

System needs:

• Socialization – incorporate social trends

• Gamification – progress / quality feedback

• Visualization – images / avatars over text

The Enthusiast

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Workforce Growth

The Free Spirit The Go-Getter

The Enthusiast The Data Junkie

Claims Systems Must Meet the Expectations of a Technical Workforce with Different Needs and

Expectations

Want a variety of interaction experiences

Drive their own experience based on tools and need

Example: Touch screens to record damage to an auto with GPS to locate it

System needs:

• Flexibility

• Seamless user experience

• Transparency among devices

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Workforce Growth

The Free Spirit

The Enthusiast

Claims Systems Must Meet the Expectations of a Technical Workforce with Different Needs and

Expectations

Information is paramount

Collect, track, and analyze volumes of data

Example: Access to decompose data contained in a report

System needs:

• Real-time reporting and Dashboard metrics

• Integration to multiple information sources

• Claim information in one place and easily accessed

• Push notifications of changes

The Go-GetterThe Data Junkie

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Workforce Growth

Everyone is hiring from the same limited pool

New employees have a high expectation for technology

Hiring from competitors with better technology can lead to frustration on the part of the user

Training is long and is often on-the-job-training for new hires

Claims processing with workflow and automated capabilities

Intuitive solutions with advanced processing

Mobility and advanced tools

Support tools to aid the adjuster and make everyone an expert handler

Efficiency driven with tools for a contemporary claims workforce

Increased accuracy and effectiveness by embedding carrier’s guidelines into the claims solution

System experience which meets the needs of the users

Challenge

Solution

Business Value

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Copyright © 2013 Accenture All rights reserved. 35

Choosing the Right Path to Improving Your Claims Systems

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How does your company’s situationalign with the results of our research ?

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Booth 307 on Exhibit Floor

More Information

[email protected]

www.accenture.com/pcsoftware

Patti Griffin