London — Accenture (NYSE: ACN) and SAP (NYSE: SAP) have been selected by Lloyds TSB Insurance (LSE: LLOY) to help the insurer implement a new claims management system.
The new solution is a key part of Lloyds TSB Insurance’s claims re-engineering programme, which was established in early 2004 to create an industry-leading claims capability that would deliver even better customer service, at lower cost to the company whilst providing the tools and support that will help front line claims assessors excel.
Under the terms of the agreement, Lloyds TSB has licensed applications from SAP’s for Insurance solution portfolio, and will work with Accenture and SAP to implement the new claims management system. The project combines Accenture’s deep claims process knowledge and systems integration experience with SAP’s software expertise. The implementation will include the full suite of SAP modules applicable to claims, including the core claims management module, collections and disbursements, customer relationship management, business partner framework and business intelligence.
Simon Furnell, customer service director, Lloyds TSB Insurance, said: “The first phase of our claims re-engineering project, completed in 2004, has delivered service and financial benefits that have exceeded the targets that we set. This second phase of the programme revolves around the implementation of a new strategic claims system and will provide the platform that we need to move up to the next level of high performance. For our customers that will mean more rapid and convenient settlement of claims while giving us further improvements in efficiency and effectiveness.”
The deal with Lloyds TSB Insurance is further evidence of the joint Accenture/SAP strength in claims in the UK market and expands the portfolio of clients under the alliance between the two companies. Announced in September 2003, Accenture’s alliance with SAP involves the two organisations working together to develop and deliver business and operational solutions for banks and insurance companies worldwide.
Stephen Lathrope, the Accenture senior executive leading the firm’s work with Lloyds TSB Insurance, added: “Lloyds already achieves high levels of customer service but rightly strives to continue to improve. Accenture and SAP believe we can help Lloyds to deliver its vision for claims to achieve further claims efficiency and cost effectiveness.”
Ian Anderson, SAP Client Manager for Lloyds TSB, commented: “We have been working with Lloyds TSB Group for many years and this is a further area where we can help improve operational efficiency. SAP has deep expertise in insurance software solutions, and other SAP customers in the UK and internationally are already delivering benefits in customer service and cost reduction, moving ahead of their competitors using these solutions. We look forward to working with Lloyds TSB Insurance and Accenture on the claims implementation.”
Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills and technologies to help clients improve their performance. With more than 123,000 people in 48 countries, the company generated net revenues of US$15.55 billion for the fiscal year ended Aug. 31, 2005. Its home page is www.accenture.com.