iRACQ Insurance Selects Guidewire Solution

By Anil Sharma
TMCnet Contributor

RACQ Insurance, a provider of motor vehicle and household insurance to over 1.4 million policyholders throughout Queensland and northern New South Wales, has selected Guidewire Software for policy administration and billing.

Guidewire InsuranceSuite provides core systems to enable transition to independence and provide flexibility required for improved competitiveness.

Officials with Guidewire Software said that InsuranceSuite is designed to provide the flexible core systems essential for the mission-critical operations of general (property/casualty) insurers competing in today’s market: underwriting, policy administration, billing and claims.

“The decision on which vendor to choose to provide our policy and billing systems was very important for us,” said Bradley Heath, CEO 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 organisations 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,” said Heath.

Thanks to Guidewire InsuranceSuite, RACQI will be able to quickly tailor its product offerings in an increasingly competitive environment; improve customer service levels with real-time customer-centric information, plus visibility into core operations; and increase efficiency of sales and servicing activities from quoting, through issuance, billing enquiries and claims handling.

“I’d like to thank the RACQI team for choosing Guidewire as its core system vendor,” said Ian Tavener, vice president, Asia Operations at Guidewire Software.

“This is a tremendously exciting and challenging time for RACQI as it transitions out of the joint venture arrangement. We at Guidewire are honoured by their trust and feel accountable for ensuring that they are successful,” said Tavener.

TMCnet in January reported that the Insurance Corporation of British Columbia, a provincial Crown corporation and sole provider of universal compulsory auto insurance in BC, opted for Guidewire Software’s ClaimCenter solution as its new end-to-end claims management system.