Accenture Unveils Enhanced Claims-Management Software Platform
Accenture has released an enhanced version of its claims-management software platform, the Accenture Claim Component, with business intelligence (BI) features to help P&C insurers process claims more quickly and efficiently.
The new release (version 10.1) provides BI, analytics and reporting features; extended recovery and subrogation functionality; and enhanced "codeless configuration" capabilities. New features include:
• A preconfigured reporting database, including more than 150 key performance measures and characteristics, to allow insurers to evaluate their claims-management processes and improve claims-handling performance. The database enables claims handlers and supervisors to access out-of-the-box reports and dashboards and use intuitive interfaces to create new reports through easy drill-down features. These BI features are the result of Accenture's experience in working with dozens of high-performing claims organizations.
• Additional codeless-configuration features, which further enhance the ability of claims handlers to quickly and easily change the application behavior, through user-friendly business rules and without any programming knowledge. The new features include preconfigured business rules to manage claims activities, data and logic that can vary by client, product set and regulatory jurisdiction.
• Extended subrogation functionality, based on Accenture's analysis of best practices in claims-recovery processing, which enables insurers to better identify, track and pursue recoveries. The upgraded version of Accenture Claim Components provides accelerated data capture for subrogation, including identification of third-party carriers and ownership status of vehicles.
Trillium Releases Data-Quality Solution for Claims Professionals
Trillium Software, a provider of industry-specific data-quality solutions, has made available its new Claims Data Quality solution for P&C insurance-claims professionals. This offering leverages Trillium's data-quality and insurance-claims expertise to help insurers automate the assessment, monitoring and analysis of structured data as well as unstructured data elements with free-form text, such as adjuster notes.
By managing the quality of claims data and automating data-quality processes, insurance companies can more accurately forecast loss reserves, manage allocated expenses and identify missed opportunities for time-sensitive recoverables including subrogation and catastrophe coding.
Claims Data Quality is a combined software and consulting solution, powered by the Trillium Software System, a data-quality software platform. Clients receive a data assessment that reviews all current claims data across repositories, systems and processes to identify areas that need improvement. This includes an examination of structured data contained in fields and unstructured data from claims-adjuster notes and other sources.
Resulting analysis, reporting and data-assessment information can be delivered in any requested user interface or format—from BI dashboards and scorecards to spreadsheets and files.
"Insurance claims professionals are making decisions based on poor-quality data, which can lead to adverse department performance due to incorrect assumptions on loss reserves, catastrophe management, subrogation maximization and litigation controls," Michael Chochrek, insurance-solutions principal consultant for Harte-Hanks Trillium Software, says in a statement. "Our answer to these data-quality challenges is based on deep insurance-claims subject-matter expertise and data-quality-assessment capabilities, including a proven data-quality methodology to help claims professionals understand and solve their data issues."
The solution helps address a number of uniquely claims-based data problems such as:
• Loss Reserves: proactive, automated identification of potentially inaccurate loss reserves in order to adjust reserves in a timely and accurate manner to match the true claims exposure and mitigate costly manual-remediation processes.
• Allocated Expenses: automating identification and matching of case files to specific claims activities to minimize expenditures while maximizing value.
• Subrogation and Catastrophe Recovery: automated identification and remediation of claims for subrogation and catastrophe coding to optimize claims recovery amounts and processes.
Latest Mitchell Release Adds to Medical-Claims Capabilities
Mitchell, a provider of technology, connectivity and information solutions to the P&C claims industry, has released DecisionPoint 7.2, a medical-bill-review and workflow solution for first- and third-party-liability claims handlers.
Mitchell's NHQ Negotiation Services component enables clients to leverage an array of negotiation services to the approximately 50-70 percent of medical charges that are generated by providers that are not currently part of a provider network.
Another feature included in this release is the ability for users of DecisionPoint to provide feedback. This feedback delivers greater insight into user satisfaction and allows Mitchell to incorporate this feedback to further improve the DecisionPoint model.
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