Investor Relations

Overview

News Release

  View printer-friendly version

« Back

December 15, 2014 at 8:55 AM EST

Capital Insurance Group Selects Guidewire System for Underwriting and Policy Administration

Guidewire PolicyCenter® to increase operational efficiencies and speed-to-market for multi-line insurer

MONTEREY, Calif. & FOSTER CITY, Calif.--(BUSINESS WIRE)--Dec. 15, 2014-- Capital Insurance Group (CIG), a leading Property/Casualty (P/C) insurer serving the Western United States, and Guidewire Software, Inc. (NYSE:GWRE), a provider of software products to P/C insurers, today announced that CIG has selected Guidewire PolicyCenter® as its new underwriting and policy administration solution. CIG has also selected Guidewire Rating Management™ and Guidewire Client Data Management™. Guidewire PartnerConnect™ Consulting partner, PwC US, has been selected to lead the implementation project.

After selecting Guidewire BillingCenter® earlier this year as part of a larger ongoing business transformation initiative, CIG decided to expand its Guidewire selection to include PolicyCenter. By consolidating its three existing policy systems, the company hopes to simplify its infrastructure, streamline business processes and gain the flexibility needed to remain competitive in an evolving market. CIG will deploy PolicyCenter across all lines of business in a phased implementation approach, beginning with its BOP and commercial auto lines.

“Our team was very impressed with Guidewire’s track record of effective implementations in the marketplace. We didn’t see that level of success with any other system,” said Walter Bennett, vice president, Underwriting, CIG. “With PolicyCenter, we’re deploying a technology that will free our underwriters up to focus on what only they can do – have conversations with agents about the nuances of risks. With improvements in overall efficiencies and focused resource deployment, we’ll be able to improve the overall level of service to our agents and insureds through more agile product development and faster turnaround times.”

PolicyCenter will enable CIG Insurance to:

  • Enhance business agility by enabling product changes to be made more quickly and easily without the delays of custom IT coding;
  • Leverage automated underwriting rules and real-time functionality to eliminate manual processes; and
  • Standardize policy administration on a single, consistent platform for agents and policyholders.

“From a technical perspective, our legacy policy systems were creating a bottleneck each time we needed to update or enhance our systems,” said Rads Mydam, chief information officer and vice president, Information Technology, CIG. “It can take up to four months to make changes in the current system. We’re looking forward to increasing our agility as a result of PolicyCenter’s easy configurability and giving business users more freedom to modify products and services as needed.”

“We are pleased to extend our relationship with CIG through their PolicyCenter selection,” said Steve Sherry, group vice president, America Sales, Guidewire Software. “We admire CIG’s dedication to providing their policyholders and brokers with excellent products and services, and we look forward to helping them meet their current and future business objectives.”

Guidewire PolicyCenter® is a flexible underwriting and policy administration system that enables Property/Casualty insurers to grow business profitably by improving efficiency, while responding with agility to market opportunities and enhancing relationships with agents and customers. Designed to support both commercial and personal lines, PolicyCenter helps insurers streamline front and back office processes, from new business submission and quoting through policy renewals. PolicyCenter is available as a standalone system or as part of Guidewire InsuranceSuite™, and can be integrated to an insurer’s legacy systems or third party applications.

About Capital Insurance Group

Capital Insurance Group® (CIG) is the leading regional property and casualty insurer serving the Western U.S. since 1898. CIG insures Personal Auto, Homeowners, Farmowners, Condo Owners, Vacation Property, Renters, Apartment Building Owners, and many kinds of Commercial and Agricultural Auto and Property. The more than 115-year-old company is rated “A” (Excellent) by A.M. Best, the independent financial monitor of the insurance industry. CIG manages personal, business, and agriculture risks underwritten by its affiliate companies: California Capital Insurance Company, Eagle West Insurance Company, Nevada Capital Insurance Company, and Monterey Insurance Company. Types of policies may vary from state to state. For more information, please visit www.CIGinsurance.com.

CIG DELIVERS MORE. Continuously.™

About Guidewire Software

Guidewire builds software products that help Property/Casualty insurers replace their legacy core systems and transform their business. Designed to be flexible and scalable, Guidewire products enable insurers to deliver excellent service, increase market share and lower operating costs. Guidewire InsuranceSuite™ provides the core systems used by insurers as operational systems of record. Additional products provide support for data management, business intelligence, anytime/anywhere access and guidance and monitoring. More than 180 Property/Casualty insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.

NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, Guidewire BillingCenter are registered trademarks of Guidewire Software, Inc. in the United States and/or other countries.

Source: Guidewire Software, Inc.

Guidewire Software, Inc.
Diana Stott, +1-650-356-4941
Director, Communications
dstott@guidewire.com