Insurance Technology Featured Article

100 Systems in 10 Countries Execute Guidewire's Software Core System Replacement

October 22, 2012

The insurance industry uses legacy systems for periods longer than the intended use of the application. Outdated applications means insurers are not as effective when it comes to issuing policies and providing their customers with the latest information. As a property/casualty (P/C) software provider, Guidewire has a core system that includes the entire insurance lifecycle including billing, claims, policy administrations, reinsurance management and underwriting.

The company has a more than 2700 staff that are part of the System Integrator (SI) and consulting partners. The partners ensure the best of practices of Guidewire are applied toward every new client as well as existing clients going through a core system replacement.

"Core system replacement projects are extremely complex undertakings requiring business vision, technical competence, and sustained management commitment. Everyone at Guidewire is very proud to have been a part of our customers' achievements, and we look forward to extending our collaboration many years into the future," said Marcus Ryu, chief executive officer, Guidewire Software.

Guidewire offers a suite designed to be flexible and scalable to meet the demands of insurance providers of all sizes. The InsuranceSuite consists of Guidewire PolicyCenter, ClaimCenter and BillingCenter. It supports workers compensation, personal and commercial lines and the ability to combine and simplify system portfolios. It comes with a pre-built web API so it can integrate with existing system without compatibility issues.

The complete suite gives insurers every tool they need to effectively run a company using the latest technology to increase market share, reduce overall operational costs and automate services. The company is headquartered in Forest City, California with offices in Asia, Europe and North America.

"Suncorp (News - Alert) has achieved significant business benefits by moving from multiple legacy claims systems - involving 10 brands, 45 products and numerous business processes - to ClaimCenter. Having a single source of truth has allowed us to simplify workflow and document processing, reduce training, and dramatically improve the claims process from lodgement through to claims assessment and repair. This has increased customer satisfaction, and has allowed us to focus on innovation within our business rather than just operational efficiencies." Colin McCririck, executive manager, BT (News - Alert) Claims - Suncorp (in production with ClaimCenter since 2007; in production with PolicyCenter since 2008)




Edited by Brooke Neuman

Article comments powered by Disqus

Related Insurance Technology Articles

Optimal Blue partners with Arch Mortgage Insurance Company

According to the terms of the agreement, Optimal Blue will now provide Arch MI's competitive pricing and Rate Quote workflow within its eligibility and pricing services. Arch MI customers using Optimal Blue's services can now request for Arch MI's mortgage insurance premium rates for up to five loan products. [ Read More ]
08/29/2014

State Farm Makes Auto Claims Submission with Mobile Devices Easier

Unfortunately, we are all too familiar with the phrase, "accidents will happen!" Whether it is a fender-bender or a serious collision we have all been there and done that when it comes to capturing all of the information we need to submit a claim that insurance companies can easily and quickly process. To use another popular phrase, "It is a real pain in the neck." [ Read More ]
08/28/2014

Insurance Industry Increases Hiring for Technology Jobs

Insurance companies have lots of job opportunities for those with thecnology skills. [ Read More ]
08/28/2014

American National Insurance Company Selects iPipeline Solution

iPipeline, a company that offers on-demand marketing, selling, and processing solutions, recently announced that its AFFIRM for Annuities solution has been selected by American National Insurance Company, a provider of life and annuities products, to automate the advisor selling process. By supporting the customized workflows and streamlining the order-entry process, the solution allows financial institutions to meet their requirements for FINRA, SEC and state compliance. [ Read More ]
08/26/2014
FREE Insurance Technology enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!