Earlier this week Accenture announced it has formed a partnership With Duck Creek Technologies to launch a blockchain proof-of-concept for medical bill auditing. While sharing details about the collaboration, Cindy DeArmond, managing director and P&C Core Platforms Lead for Accenture in North America, stated:
“These new tools are the product of our focus on providing a new generation of digital solutions to our insurance clients working in collaboration with our joint venture partners. The insurance sector is on the cusp of a digital revolution that will redefine how it operates. By integrating our advanced digital technologies with Duck Creek’s leading core insurance platform, we can help reshape the way the industry operates and find more efficient and effective ways for our clients to add value for their customers.”
Jeff Wargin, vice president of product management at Duck Creek also noted:
“These products represent an important milestone in our efforts to bring innovation to our clients. By integrating Accenture analytics and IoT solutions into our platform, we can provide powerful analytic and telematic services to P&C carriers, and with Accenture’s blockchain proof of concept we can show our clients how to automate critical auditing processes in a secure environment using distributed ledger technology. These offerings demonstrate the strength in our strategy of tapping Accenture and Apax as investors and partners.”
Accenture added its Digital Insurance Solution Center has collaborated with Duck Creek on the development of Internet of Things (IoT), Big Data analytics and other emerging technology solutions for insurers since August 2016 when Duck Creek relaunched as an independent company. Last year, the company sold a majority stake in Duck Creek Technologies to funds advised by Apax Partners, a leading global private equity firm, and formed a joint venture in which Accenture retains a minority stake in Duck Creek Technologies.