Claims Services

 Claims represents a major opportunity for insurers to improve their profitability and achieve meaningful differentiation.This has always been true; in these difficult times it is more of a priority than ever.
Claims handling has a critical impact on the business—both financially and operationally—making it central to the organization’s strategic objectives. It is key to customer satisfaction, and so to growth. And as it accounts for more than 70 percent of the insurer’s expense base, it is a vital determinant of profitability.
Yet in most companies the claims department is significantly underperforming. This is due to
cumbersome processes, poor allocation of tasks to skilled personnel, an inability to deal effectively with intricate, diverse insurance products, the growing burden of regulatory compliance, and an overly complex and therefore inefficient processing platform. Many initiatives intended to address these shortcomings have been “quick-hit” interventions and isolated point solutions – and have yielded disappointing results.
Accenture’s research and experience shows that claims handling represents the single greatest opportunity for property & casualty / general insurers to drive significant gains in business performance and customer service.
Accenture has abundant experience helping insurers unlock hidden value by optimizing and industrializing their claims operations: reducing their complexity and maintenance requirements, and improving their functionality and efficiency. New processes and services are introduced, automation is extended, world-class operating metrics and capabilities are implemented, and a workforce is developed that uses the new capabilities to their best effect. The focus of these initiatives is on three key areas—loss cost containment, expense control and service enhancement—to ensure customers' expectations are met, growth is supported and costs are minimized