Sentry Insurance (Stevens Point, Wisc.; $9.7 billion in assets) has completed the second implementation phase of Accenture's Claim Components solution, aimed at updating, streamlining and enhancing its claims processing systems.
The initial implementation of Accenture's Claim Components Solution platform was for Sentry's workers' compensation line of business, according to an Accenture news release. After successfully implementing the first release, Sentry selected Accenture to implement a second release of the application for Sentry's commercial lines claims, which included auto, general liability and property insurance. A third release is currently under way for Sentry's personal lines claims.
The upgrades in our claims systems reflect Sentry's ongoing commitment to efficient claims-handling and great service for our customers," comments Dan Wuest, IT Director, Claims, Sentry Insurance. "The Accenture Claim Components Solution allowed us to leverage much out-of-box functionality while giving the flexibility to fully customize features that are unique to our business."
Accenture characterizes Claim Components Solution as a suite of software components that operates on a Web-based platform and is designed to help insurers — ranging from the world's largest to smaller, niche carriers — improve the efficiency of their claims-handling operations through the automation of routine tasks. The third phase of the Sentry implementation represents one of the first applications of Accenture Claim Components Solution within the non-standard auto insurance market, which covers drivers who have difficulty obtaining insurance from standard insurance companies due to such factors as their driving records or lack of prior insurance.
"Today's insurance customers are demanding more from their carriers, especially when it comes to claims service," comments Michael Costonis, managing director of Accenture's North America insurance practice and head of global claims services. "Leading insurers like Sentry recognize that the ability to satisfy those expectations while providing enhanced functionality depends upon the rapid and cost-efficient implementation of a high-performing claims infrastructure."
According to Accenture, Claim Components is used by five of the top 10 U.S. insurance carriers and several of the largest insurers in Europe, helping process approximately one-third of all property and casualty insurance claims in the United States.
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio