Accenture (NYSE: ACN) has unveiled enhanced versions of its policy administration, claims management and billing software, designed to help property and casualty (P&C) insurers improve customer service by processing policies and claims more efficiently. The software upgrades are engineered to support faster development of insurance products, increasing speed to market and improving ease of use for the carrier, agents and policy holders.
“The ability to recognize and capitalize on industry changes will separate the winners from the others,” said Michael A. Jackowski, global managing director of Accenture Software for P&C Insurance. “Delivering new customer insights, insurance products and enhanced services at speed is clearly the new lifeblood. To that end, we have enhanced our software with configuration and third party integration capabilities to make them easier to implement and to change. We have also implemented several processes to enable our customers to be the highest performing insurers in the industry.”
Accenture Duck Creek Billing (release 5.2) enhancements include:
- An intuitive and simplified workflow interface and user navigation to improve productivity of both technical and non-technical users.
- Flexible commission options that enable carriers to customize agent commission plans.
- Significantly enhanced configurability that enables carriers to smoothly deal with non-standard billing situations such as policy cancellations, out-of-cycle bill types, renewal plan changes, and payments.
The new release of Accenture Claim Components (release 10.3) features:
- An expanded library of integration adapters and accelerators, enabling faster and more efficient integration with third party applications.
- Enhancements to the software’s codeless configuration, allowing for further flexibility in customization of business event definition and workflows, facilitating easier system behavior changes.
- Configuration management upgrade tools that drive faster and more cost efficient upgrades.
- Detailed injury benefit processing and financial authority options, resulting in better financial management.
- A new product modeling feature within Accenture Duck Creek Product Studio. A product lifecycle management component allows business users to experiment with product changes quickly and can improve carrier profitability by delivering new products to market faster.
- Updates to Accenture Duck Creek Templates. These ready-to-use and configurable product templates within Accenture Duck Creek Policy Administration accelerate and simplify the process of loading of ISO circulars and rule updates for the U.S. market. Additionally, installation of multiple lines of business can now be automated, helping to reduce update time.