choosing the right path to improving your claims systems
TRANSCRIPT
Choosing the Right Path to Improving Your
Claims Systems - Patti Griffin
America’s Claims Event – June 19 to 21, 2013, Austin, TX
Accenture Software
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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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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
Choosing the Right Path to Improving Your Claims System
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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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Survey of the Industry
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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:
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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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Legacy Platforms
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Multiple Claims Systems
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SaaS as an IT Option
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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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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
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We Are Hiring!
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Skilled Hires
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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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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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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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More Information
www.accenture.com/pcsoftware
Patti Griffin