Insurance newsroom roundup (June 2012)

Before we head into the sunny days of summer, I wanted to highlight some recent announcements from the Accenture newsroom.

Accenture teams with SAS Institute

Folksam is one of Sweden’s largest insurers, and late last year they selected the SAS Risk management for Insurance solution to help them comply with Solvency II regulations. In turn, SAS Institute selected Accenture to help with implementation of the solution at Folksam. It’s an exciting opportunity to work with the entire group at Folksam, including its non-life and life insurance companies and subsidiaries.

By taking a proactive approach to Solvency II compliance, insurers can improve risk management. Learn more about Accenture’s global research on risk management.

Mutual Benefit Group selects Accenture Claim Components

Mutual Benefit Group is a personal and commercial insurer based in Pennsylvania and Maryland. They already use Accenture Duck Creek Policy Administration for its core policy processing needs, and recently selected Accenture Claim Components to replace its legacy claims system. Accenture will implement the system, which will help Mutual Benefit Group achieve faster, more efficient claims processing and enhance customer service.

Accenture Claim Components helps insurers manage claims more efficiently and effectively—from end to end, for all lines of business. Learn more about Accenture Claim Components.

To learn more, read the press releases:

Michael Costonis

About Michael Costonis

Michael Costonis is Managing Director of Accenture’s Insurance practice for North America. He is responsible for setting the overall vision and strategy for the practice, as well as pursuing new client relationships.

Costonis has twenty years experience developing, managing and deploying large scale technology systems, business processes, and strategies for some of the world’s leading insurers, including property & casualty, life, and multi-line insurance companies. In his career with Accenture, he has worked with more than 50 leading insurance clients in 14 countries around the world.

In addition to his role as North America industry executive director, Costonis is the lead for Accenture’s global claims services. In that role, he oversees claims strategies, assets, capabilities, and sales development. He also has led Accenture’s Insurance Solutions practice in North America, where he was responsible for driving growth for Accenture’s asset-based business in Insurance, including claims, underwriting, and policy administration.

Costonis has authored several articles in leading insurance trade publications, and has been quoted in The New York Times, Bloomberg News, Reuters News, Best’s Review, Insurance & Technology, InformationWeek, National Underwriter, Technology Decisions, and the Philadelphia Inquirer. He has spoken at several leading industry conferences in the U.S. and internationally.

Costonis received a bachelor’s degree in political science from Swarthmore College (Swarthmore, PA). He is based in Philadelphia.

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