National Association of Subrogation Professionals Selects Accenture to Conduct Industry Competitive Analysis
May 22 2015 - 12:18PM
Business Wire
Report to focus on workers’ compensation
subrogation
The National Association of Subrogation Professionals (NASP) has
commissioned Accenture (NYSE:ACN) to conduct the association’s
annual benchmarking research, which is designed to help insurers
improve subrogation practices.
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The research, which has been conducted for more than a decade,
includes survey-based reports that cover subrogation related to
workers’ compensation, auto, property and healthcare insurance,
each in a four-year cycle; this year’s report will focus on
workers’ compensation subrogation.
All participating insurance carriers will receive an
individualized report containing detailed data that measures their
results against industry benchmarks. The individualized reports
will be available only to survey participants and will be
maintained by Accenture to ensure the confidentiality of the data.
Non-participants will be able to purchase a separate copy of the
study containing general industry data.
“Accenture’s help will enable us to take our annual benchmarking
study to the next level and provide significant value to the
industry,” said Leslie Wiernik, NASP’s executive director. “This
year’s workers’ compensation study will be more comprehensive than
ever, leading to actionable insights for carriers. We couldn’t be
more pleased to work with Accenture, which brings deep industry
knowledge as well as extensive leading-edge analytical
techniques.”
“Subrogation is a critical part of the claims management
process, and a key method for insurers to mitigate claims losses,”
said Michael Costonis, a managing director in Accenture Property
and Casualty Insurance Services. “Insurers recognize subrogation as
a critical strategic initiative due to its impact on overall
financial performance of the company. In helping NASP on its annual
benchmarking study, we will leverage our deep understanding of
subrogation processes and industry leading practices to create
insightful reports, which can help insurers improve subrogation
results and identify the immediate actions to reach this goal.”
The workers’ compensation study will be conducted in the late
spring and early summer, with final reports expected in late
summer. Insurers interested in participating in the study are
encouraged to contact NASP prior to May 26, 2015.
About NASP
NASP's mission is to enhance the stature and effectiveness of
subrogation and recovery professionals through education, advocacy
and the exchange of information. NASP was established in November
1998, to meet the needs of the subrogation industry and to provide
educational opportunities for insurance professionals. Today,
NASP's top priority still is providing continuing legal education,
training and networking opportunities for subrogation professionals
whether they are insurance claims professionals, litigators,
experts, collection vendors, or other service providers.
About Accenture
Accenture is a global management consulting, technology services
and outsourcing company, with approximately 323,000 people serving
clients in more than 120 countries. Combining unparalleled
experience, comprehensive capabilities across all industries and
business functions, and extensive research on the world’s most
successful companies, Accenture collaborates with clients to help
them become high-performance businesses and governments. The
company generated net revenues of US$30.0 billion for the fiscal
year ended Aug. 31, 2014. Its home page is www.accenture.com
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version on businesswire.com: http://www.businesswire.com/news/home/20150522005733/en/
NASPCherish Diviney,
800-574-9961cherish.diviney@subrogation.orgorAccentureMelissa
Volin, +1 267-216-1815melissa.volin@accenture.com
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