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Choosing the Right Path to Improving Your Claims Systems

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  • 1. Choosing the Right Path to Improving YourClaims Systems - Patti GriffinAmerica’s Claims Event – June 19 to 21, 2013, San Antonio, TX
  • 2. Accenture Software
  • 3. Copyright © 2013 Accenture All rights reserved. 3World Class Software• 725+ Accenture Software P&C employees.• Accenture P&C Software is built on decades ofInsurance software experience.• Supports the full range of Property and Casualtylines of business across the insurance organization.• Our software has been “battle tested” forperformance and scale by some of the largest P&CInsurance Companies.• Accenture Software Client Services provides globaland cost effective coverage for all of our Insuranceproducts around Policy, Billing, Claims, and DataMigration.• We build software with legacy environments andthe practical application of technology in mind.• Technology innovation is at the heart of what we do– Multiple delivery models– Multi geography– Cloud-readyPowered by Accenture• Accenture Software applies the best of Accenture’sknowledge and experience.• Our software is designed leveraging Accenture’sdeep industry knowledge and understanding of highperformance business processes.Insurance Customer Facts• Our solutions have been embraced by 100+ GlobalP&C Software Customers.• And has Processed:– Peak catastrophe activity of over 42,000 claimsper day– 750,000 policies quoted in single day by singlesystemAccenture Software for P&C
  • 4. Copyright © 2013 Accenture All rights reserved. 4A Complete Property & Casualty SuiteStreamlinesprocesses andget products tomarket fasterand enablesagents andunderwriters tocommunicateUnsurpassedrating and rulesengineutilized as ablack-box ratingengine or as acomponentwithin policyadministrationOff-the-shelfcompleteproductdefinitions for allISO commerciallines of businessplus workers’compensationDeliveringultimateflexibility,performanceand efficienciesfor billing andreceivablesmanagementprocessesAn innovativenew productdefinition andconfigurationsuite that allowsbusinesspeople to makemarket changesQuality – Innovation – Speed – Performance – FlexibilityEnd-to-endclaimsmanagementsolution coveringclaims functionsfrom first noticeof loss tosettlement andrecovery, for alllines of business
  • 5. Choosing the Right Path to ImprovingYour Claims System
  • 6. Copyright © 2013 Accenture All rights reserved. 7Insurance Technology InnovationMost insuranceinnovation has beendriven externally; notinternallyThat’s especially truewith claims
  • 7. Copyright © 2013 Accenture All rights reserved. 8History of Claims Technology InnovationLate 1800’s 1960’sEarly 1900’s 1970’s1980’s Mid 1990’s Early 2000’s 2005The rate of development and advancement has been accelerating
  • 8. Copyright © 2013 Accenture All rights reserved. 92007 Established the New NormalMobile platforms for adjusters and consumersPower ToolsAmazing Capabilities in the Palm of Your Hand2007 2013
  • 9. Copyright © 2013 Accenture All rights reserved. 10What’s Possible TodayConsumerLossReportingAdjusterAppointment RoutingNear Real-time AccidentLocation PhotosOnsite CAT Entry andSettlementMobile Field Adjusting
  • 10. Copyright © 2013 Accenture All rights reserved. 11Achieving a Modern EnterpriseCustomer SatisfactionAdjuster EfficiencyExpensesLoss CostsMost Claims Systems are too old to embracethe new normal for claims processing
  • 11. Copyright © 2013 Accenture All rights reserved. 12Survey of the Industry
  • 12. Copyright © 2013 Accenture All rights reserved. 13Three Areas of Concern
  • 13. Copyright © 2013 Accenture All rights reserved. 14Modernity and Flexibility SoughtMost claims systems lack the ability to supporteasily changing systems’ behaviors / processesor address evolving consumers demands40% answered “not at all”17% answered “to a great extent”43% answered “to some extent”Ability to change system behavior without IT intervention:
  • 14. Copyright © 2013 Accenture All rights reserved. 15Modernity and Flexibility SoughtMost claims systems lack the ability to supporteasily changing systems’ behaviors / processesor address evolving consumers demands15% answered “to a great extent”21% answered “not at all”64% answered “to some extent”Ability to address shifting consumer demands:
  • 15. Copyright © 2013 Accenture All rights reserved. 16Legacy Platforms
  • 16. Copyright © 2013 Accenture All rights reserved. 17Multiple Claims Systems
  • 17. Copyright © 2013 Accenture All rights reserved. 18SaaS as an IT Option
  • 18. Copyright © 2013 Accenture All rights reserved. 19Core System Replacement
  • 19. Copyright © 2013 Accenture All rights reserved. 20Core System ReplacementHigh IT maintenanceexpenses for systemchanges and supportDoes not adapt well tonew technologyData scattered acrossmultiple systemsInability for customer to“self-service”Claims is fighting forpriority across all ITprojectsChallengeConfiguration tools tomanage systembehavior and claimdepartment needsCommon integrationtools with prebuiltadapters – supportingutilization of emergingtools and technologySaaS shifts the ITmaintenance to thesolution providerSolutionDrive efficiencies andcustomer service withanalytics, mobility,telematics, workflowIncreased adjusterefficiency andeffectiveness formanaging informationSpeed to market forbusiness changesLower implementationand ownership costsBusiness Value
  • 20. Copyright © 2013 Accenture All rights reserved. 21Offline Data
  • 21. Copyright © 2013 Accenture All rights reserved. 22Analytics
  • 22. Copyright © 2013 Accenture All rights reserved. 23Data
  • 23. Copyright © 2013 Accenture All rights reserved. 24Data and Analytics
  • 24. Copyright © 2013 Accenture All rights reserved. 25Data and AnalyticsValuable information Isstored in separatelocations, includingoffline files like ExcelInformation cannot beeasily accessed andutilized by claim staffLack of consolidatedinformation for reportingor analysisMissed opportunities toproactively manage thebusinessCapture of data, files,notes and documentselectronically in oneplaceInformationtransparency for alladjusters in all locations,including the fieldOne central location forreal-time viewing andmanaging of claiminformationBetter access to data,improving investigationsand outcomesCollaboration fosteredamong adjusting staffAnalytics and proactiveclaim managementenabled by datacentralized in anelectronic claim fileChallengeBusiness ValueSolution
  • 25. Copyright © 2013 Accenture All rights reserved. 26We Are Hiring!
  • 26. Copyright © 2013 Accenture All rights reserved. 27Skilled Hires
  • 27. Copyright © 2013 Accenture All rights reserved. 28Workforce Growth
  • 28. Copyright © 2013 Accenture All rights reserved. 29Workforce GrowthAccenture research paper: Insurance User Experiences byDesign: Satisfying the Needs of Four Major User SegmentsThe Free Spirit The Go-GetterThe Enthusiast The Data JunkieClaims Systems Must Meet the Expectations of aTechnical Workforce with Different Needs andExpectations
  • 29. Copyright © 2013 Accenture All rights reserved. 30Workforce GrowthThe Free Spirit The Go-GetterThe Data JunkieClaims Systems Must Meet the Expectations of aTechnical Workforce with Different Needs andExpectationsWant freedom of being on-the-goUses multiple devicesExample: Adjuster workingmultiple devices for a claiminvestigationSystem needs:• Responsive – supportsmultiple devices• Contextual – incorporatingcameras, voice recorders,GPS• Expert-driven – advancedfeatures / workflow
  • 30. Copyright © 2013 Accenture All rights reserved. 31Workforce GrowthThe Free Spirit The Go-GetterThe Data JunkieClaims Systems Must Meet the Expectations of aTechnical Workforce with Different Needs andExpectationsWant a collaborative atmosphereHighly skilled but easily distractedA modern userExample: Visually addinginformation to a claimSystem needs:• Socialization – incorporatesocial trends• Gamification – progress /quality feedback• Visualization – images /avatars over textThe Enthusiast
  • 31. Copyright © 2013 Accenture All rights reserved. 32Workforce GrowthThe Free Spirit The Go-GetterThe Enthusiast The Data JunkieClaims Systems Must Meet the Expectations of aTechnical Workforce with Different Needs andExpectationsWant a variety of interactionexperiencesDrive their own experience basedon tools and needExample: Touch screens to recorddamage to an auto with GPS tolocate itSystem needs:• Flexibility• Seamless user experience• Transparency among devices
  • 32. Copyright © 2013 Accenture All rights reserved. 33Workforce GrowthThe Free SpiritThe EnthusiastClaims Systems Must Meet the Expectations of aTechnical Workforce with Different Needs andExpectationsInformation is paramountCollect, track, and analyzevolumes of dataExample: Access to decomposedata contained in a reportSystem needs:• Real-time reporting andDashboard metrics• Integration to multipleinformation sources• Claim information in one placeand easily accessed• Push notifications of changesThe Go-GetterThe Data Junkie
  • 33. Copyright © 2013 Accenture All rights reserved. 34Workforce GrowthEveryone is hiring fromthe same limited poolNew employees have ahigh expectation fortechnologyHiring from competitorswith better technologycan lead to frustrationon the part of the userTraining is long and isoften on-the-job-trainingfor new hiresClaims processing withworkflow and automatedcapabilitiesIntuitive solutions withadvanced processingMobility and advancedtoolsSupport tools to aid theadjuster and makeeveryone an experthandlerEfficiency driven withtools for a contemporaryclaims workforceIncreased accuracy andeffectiveness byembedding carrier’sguidelines into theclaims solutionSystem experiencewhich meets the needsof the usersChallengeSolutionBusiness Value
  • 34. Copyright © 2013 Accenture All rights reserved. 35Choosing the Right Path to ImprovingYour Claims Systems
  • 35. Copyright © 2013 Accenture All rights reserved. 36How does your company’s situationalign with the results of our research ?
  • 36. Copyright © 2013 Accenture All rights reserved. 37Booth 307 on Exhibit FloorMore Informationpatti.griffin@accenture.comwww.accenture.com/pcsoftwarePatti Griffin