Accenture has enhanced with new functionality and support for additional languages and currencies a Web-based software package for handling property and casualty insurance claims.
Version 2.0 of the Claim Components suite features two new modules. The first, called Claims Profiler, analyzes a claim and matches it to a predefined profile, thus helping handlers process the claim appropriately. The second module is called Partner Integration Network and provides interfaces for integrating an insurer's claims system with the systems of its partners involved in the claims-handling process.
Also new in Claim Components 2.0 is support for French and German and for the currencies of the U.K., Germany and France; the first version of the suite was aimed at insurers in the U.S. and Canada, Accenture, based in New York, said Monday.
The product's first version was launched in June 2001 and designed as a modular, Web-based and customizable software suite to help insurance companies handle property and casualty claims in a faster and more efficient way. Some of the product's other components are: Claims Folder, the basic repository for a claim's information; Claims Contacts, which contains all the contact information of parties involved in processing a claim, and Claims Financials, designed for handling claims-related financial transactions.
More than 7,000 claim handlers at five insurance agencies currently use the software suite, including Chubb Corp., according to Accenture.