Accenture Insurance Customer Insights enables Insurers to Automate and Tailor Services
June 11, 2015
Accenture (News - Alert) recently launched the Accenture Insurance Customer Insights Solution (AICIS), a cloud-based solution that uses analytics to deliver services that best fit the unique needs of each customer. The solution is an integration of Pegasystem’s Underwriting Application and Accenture’s Duck Creek policy administration platform.
Accenture’s Duck Creek software suite is designed specifically for property and casualty insurance. It has modules for:
- Policy administration
- Claims processing
- Rating and product definition
- First notice of loss to settlement
Cambridge, MA-based Pegasystems (News - Alert) (“Pega”), develops solutions for sales and onboarding, customer service, marketing, and operations including its flagship product the Pega 7 platform that runs in the cloud or on-premises. The Pega 7 platform provides business process management (BPM), user experience, data analytics in real-time, and integration with social media functionality.
The new AICIS solution employs some of Pegasystems products on the front end to identify cross-selling opportunities and provide omni-channel customer support.
The solution has streamlined the entering information. For example, while entering customer names a list of possible customers appears, allowing the user to choose from the list, if working with an existing customer. Other information like lists of agents, vehicle and driver information are auto-populated, depending on user context.
This information can be used with Pega’s Next Best Action underwriting software to generate quotes for different policy options. When the customer chooses a policy, the underlying documents are generated and can be sent to the customer. Once the documents are signed, the policy is stored in the customer’s profile.
The implications for insurance companies are huge. AICIS allows them to create unique policies faster than previous systems that created more generic policies. This translates into serving more customers and serving them better.
Edited by Peter Bernstein
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