RACQ Insurance Picks Guidewire for Policy Administration and Billing

By Jamie Epstein
TMCnet Web Editor

RACQ Insurance (RACQI), a Queensland, Australia-based personal lines property/casualty insurer, announced today that the company has selected Guidewire’s product suite of its policy administration and billing platform.

According to RACQ’s website, RACQ Insurance provides various types of insurance including motor vehicle, household, compulsory third party insurance (CTP) and pleasure-craft. The company is ranked as one of the largest provider of motor vehicle insurance in Queensland, Australia, and the second largest provider of household insurance. RACQ Insurance provides coverage to over 1.4 million policy holders, throughout Queensland and northern New South Wales.

RACQI's choice comes right on the heels of the news that the carrier has bought out its insurance joint venture partner that had previously been supplying both core system support and IT services, according to a Guidewire statement.

"The decision on which vendor to choose to provide our policy and billing systems was very important for us," commented Bradley Heath, CEP of RACQI, in a statement. "Aside from the capabilities of the software, it was important to find a partner we could trust and who had the experience of helping organizations such as ours. We've done very well with Guidewire on the claims side and look forward to more of the same across the rest of the business."

RACQI will implement Guidewire’s product suite to be used as a crucial piece of the puzzle needed in order to completely change RACQI's group enterprise technology platform in a small amount of time, according to the vendor. RACQI already uses Guidewire's ClaimCenter.