In today’s digital landscape, many insurers are finding that their legacy systems are holding them back from effectively adapting to changing customer expectations. Claims core platform transformation can help insurers become more agile and equip them to adapt to changes in the market—today and in the future.
Three enablers of successful claims system transformation
So far in this series, I’ve outlined a three-step approach for insurers to achieve claims system transformation. Today, I want to highlight three factors that can dramatically enhance an insurer’s prospects for success.
- Use the right metrics. In evaluating the success of a claims system transformation, insurers should look at the benefits to people, productivity and profitability. It’s also critical to acquire baseline metrics at the beginning of the project, not just the end.
- Manage integrations and dependencies. It’s easy to become distracted by additional features, but it’s important to focus on the business plan and the core functionality that must be in place for the target claims core platform. Also be sure to check integration points, especially those that pertain to downstream data requirements, such as accounting data.
- Change management is critical. Claims system transformation is as much a people project as it is an IT project. It’s important to obtain buy-in at all levels of the enterprise, and to clearly and consistently communicate the project’s development and importance throughout. Insurers must also consider both internal and external users of the claims system, invest in training and support the claims workforce—especially as claims system transformation can enable insurers to retool the claims function and unlock new ways of working.
Register to download Enabling agility: A roadmap for successful claims system transformation (PDF), which outlines examples of business cases, a three-step approach to core platform transformation and five approaches to roll-out.
For more information:
- Read A roadmap for successful claims system transformation, part 1: The case for claims agility
- Read A roadmap for successful claims system transformation, part 2: What’s your business case?
- Read A roadmap for successful claims system transformation, part 3: What technology will you use?
- Read A roadmap for successful claims system transformation, part 4: How will you implement the transformation?
- Email me to discuss how Accenture can help you transform your claims core platform to achieve agility and improve customer-centricity.