PwC's claims business delivered a 30% lifecycle improvement using the Appian AI Process Platform
LONDON, June 19, 2024 /PRNewswire/ -- Appian (Nasdaq: APPN) and PwC UK, one of the world's leading professional services firms, today announced a new alliance to bring process improvement and optimisation to the insurance industry. This alliance would enable PwC to deliver innovative services that streamline processes, improve customer experiences, and enhance operational efficiency for insurance companies on the Appian Platform.
PwC supports more than 4,000 insurance clients globally and understands the problems and inefficiencies that having multiple, disparate systems (particularly legacy platforms) and complex, heavily regulated processes can bring. In addition, PwC brings market-leading capability for Appian implementation and delivery as well as first-hand experience of the benefits of running an operation using Appian.
"Our alliance with Appian represents a significant step in our mission to support insurers to be more agile, innovative, and competitive in today's dynamic and global market," commented Michael Cook, Insurance Consulting Partner at PwC UK. "By combining our industry knowledge with Appian's technology, we can deliver innovative solutions and outcomes that address the challenges faced by our clients in the insurance industry."
The new announcement further strengthens PwC's role as a unique alliance partner to Appian. As a customer, PwC uses the Appian Platform and the Appian Connected Claims solution to power its claims management services. In addition, PwC has an EMEA-based centre of excellence experienced in implementing the Appian suite of products as well as expertise in claims managed services, operational excellence, and digital transformation, offering a unique service to enable the success of their insurance clients.
"We are delighted to work with PwC to bring innovative solutions to the insurance sector," said Gijsbert Cox, Head of Insurance in EMEA and APAC at Appian. "Our collaboration enables us to provide insurers with the expert services and technologies they need to innovate and stay competitive in a dynamic market. This collaboration is set to have a significant impact on the UK insurance market to drive innovation and value for insurers, with potential relevance and application across Europe and the US."
The success of PwC's Appian-powered claims managed services business serves as a testament to the effectiveness of this alliance, with PwC having already successfully transformed several clients across the UK. One example is an insurer with an extensive run-off portfolio. Leveraging PwC's expertise, the company underwent a full-scale transformation to modernise and deliver improved customer service, and now efficiently handles claims at scale using an integrated solution built on the Appian Platform.
This implementation involved workflow automation, claims handling, and document management. Additionally, the team seamlessly migrated claims from the previous legacy platform to Appian, while also training 65 claim handlers in just eight weeks. Their efforts led to a 30% uptick in claims handling efficiency, and the case study was a finalist in the 2023 Management Consultancies Association (MCA) Awards.
The success of this PwC client plus several others also benefiting from the collaboration will redefine how insurers operate in a rapidly evolving market by leveraging PwC UK's extensive industry expertise and Appian's industry-leading software. This alliance leverages the strengths of both organisations to support insurers in achieving their digital modernisation and transforming insurance processes, enabling them to optimise, become more efficient and deliver differentiating services to their policyholders and brokers.
The announcement coincides with the Insurance, Transformed Summit in London on the 19th and 20th of June, 2024. Please join Appian and PwC for their Keynote or talk to a representative at the Appian booth C66:
"Transforming Claims Management through Tech-Enabled Process Optimisation"
Wednesday, 19th June from 12:45 to 13:05
Location: Stage 5
Presenters: Gijsbert Cox, Head of Insurance in EMEA and APAC at Appian and Daniel Silverman, Director at PwC Consulting, Insurance Technology and Operations
Together, Appian and PwC will bring the power of people and technology into orchestrated and automated workflows, increasing efficiency and reducing costs for insurers. For more information about working with Appian and PwC UK, please visit our website.
About Appian
Appian is a software company that automates business processes. The Appian AI Process Platform includes everything you need to design, automate, and optimise even the most complex processes, from start to finish. The world's most innovative organisations trust Appian to improve their workflows, unify data, and optimise operations-resulting in better growth and superior customer experiences. For more information, visit appian.com. [Nasdaq: APPN]
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