Accurence Named Emerging Technology Vendor to Watch in 2012
Research Identifies 11 Technology Vendors Driving Insurance IT and Enabling Carriers to Contend with Changing Market Conditions and Growing Business Pressures
Westminster, CO, USA (February 2, 2012) – Accurence, the software solution provider that invented the onsite inspection and automated scoping software category for property insurance claims adjusters and roofing contractors, today announced it is one of eleven companies named in the October 2011 report: “Emerging Technology Vendors That Insurance Enterprise Architects Should Watch In 2012” published by Forrester Research, Inc., one of the world’s most respected technology research firms.
“Insurers are scrambling to respond to a volume of claims that they’ve not seen in years. With catastrophe (CAT) losses up, so are loss ratios and loss adjustment expenses,” stated report author and Forrester senior analyst Ellen Carney. Further in the report, “Enterprise architects need to seek new technology models that provide efficient and transparent processing of premium and investment funds coming in and claims payments and expenses going out.”
The Forrester report highlights technology companies that address key insurance business drivers, can improve and support a business capability and have an existing base of customers using the solution.
In the report, Carney wrote, “SettleAssist standardizes the on-site inspection process, enforces rules compliance, and standardizes claims data collection.”
Introduced in April 2011, SettleAssist™ is a hybrid software and hardware solution for wind and hail claims settlement that helps adjusters focus on damages and on the customer, while driving unprecedented accuracy, consistency, and efficiency. By driving proactive process control and scoping automation upstream in the workflow – before the carrier’s estimating system – SettleAssist determines which line items should be in the estimate in the first place and then feeds that scope electronically to the estimating system, which then generates an estimate for the adjuster, all while the adjuster is on site.
“The Accurence team is honored to be recognized by Forrester for our commitment to innovation and improving claims settlement for property adjusters, managers, and their customers,” said Romney Williams, President of Accurence.
Accurence’s clients include Farmers Insurance, with over 500 personnel using SettleAssist in residential and commercial applications. Rob Koch, Claims Assistant Vice President of Farmers Insurance, stated, “SettleAssist provides accuracy and guideline change management benefits to our claims settlement process – while the adjuster is onsite – that were previously not possible.”
Due to Farmers’ success with SettleAssist and growing demand in the industry for its benefits, Accurence is working in various stages with several other top property insurance carriers in the US.
About Accurence, Inc.
Accurence is a software-as-a-service solution provider that invented the onsite inspection and automated scoping software category for property insurance claims adjusters and roofing contractors in order to drive significant gains in accuracy, efficiency, consistency, and intelligence in property claims settlement. Founded in 2005 by experts in field services, disaster restoration, contracting, quality assurance, and property insurance, Accurence is a privately held company headquartered near the Rocky Mountains in Westminster, CO.
For more information and a copy of the Forrester Report, contact Trent Cross at 303.500.5799 ext. 331 or visit http://www.accurence.com.
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303.500.5799 ext. 331
"Accurence is more than a business partner. They are an innovation mentor who helps us see the future and make it reality. They have successfully pioneered this category of onsite claims inspection and scope automation software."
--Rob Koch, Claims AVP, Farmers Insurance
"SettleAssist provides accuracy and guideline change management benefits to our claims settlement process – while the adjuster is onsite – that were previously not possible."
"SettleAssist standardizes the on-site inspection process, enforces rules compliance, and standardizes claims data collection."
-“Emerging Technology Vendors That Insurance Enterprise Architects Should Watch In 2012”, Forrester Research Inc., October 25, 2011