Hawaiian insurer to improve its operational efficiencies and increase
the ease of doing business with its agents and customers with Guidewire
HONOLULU & FOSTER CITY, Calif.--(BUSINESS WIRE)--Sep. 6, 2012--
Island Insurance, Hawaii's largest locally owned property and casualty
insurance company, and Guidewire Software, Inc. (NYSE: GWRE), a provider
of core system software to Property/Casualty insurers, today announced
that Island Insurance has selected Guidewire PolicyCenter® as its new
underwriting and policy administration solution. PolicyCenter will be
used initially for Island Insurance’s commercial auto line of business
and will eventually be deployed for all of the company’s personal and
commercial lines in a phased implementation approach.
Island Insurance was prompted to look for a new underwriting and policy
administration system due to its desire to move to a more modern
technology platform to support their strategic objectives and to improve
operational efficiencies. Specifically, the company wanted to automate
several of the manual tasks the previous system required in order to
free up its staff and agents to provide quicker, better customer service.
“We selected Guidewire as a partner to help us transform our
underwriting and policy administration operations because of its
significant industry footprint, implementation methodologies, and the
best practices it will bring to Island Insurance that we can leverage
across our entire business,” said Jeff Fabry, senior vice president,
chief information officer, and chief security officer, Island Insurance.
“We are confident that PolicyCenter will help us increase our service
levels to both our agents and customers.”
PolicyCenter will enable Island Insurance to:
Achieve underwriting excellence by providing consistency in
underwriting guidelines and business rules;
Access accurate information that allows for a rapid assessment of
Increase the ease of doing business for agents and customers;
Decrease system maintenance costs; and
Reduce new employee training times through its intuitive interface.
“We are pleased that Island Insurance has selected Guidewire
PolicyCenter,” said Steve Sherry, vice president, The Americas,
Guidewire Software. “We recognize Island Insurance’s dedication to
providing its staff, agents and customers with the best tools and
technology, and we look forward to working with them on this project.”
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 Island Insurance
Island Insurance Company, Ltd. is Hawaii's largest locally-owned
insurance carrier, offering a full range of property and casualty
protection. Founded in downtown Honolulu, Island Insurance has been
serving Hawaii's families and businesses for nearly 75 years and is the
only Hawaii-based company to be recognized for five consecutive years as
one of the Ward Group’s Top 50 property & casualty insurers in the
nation. Island Insurance has earned financial strength ratings of "A"
from A.M. Best Company and Fitch Ratings. For more information, visit www.islandinsurance.com.
About Guidewire Software
Guidewire Software is a provider of core system software to the global
general (Property/Casualty) insurance industry. Designed to be flexible
and scalable, Guidewire solutions give insurers the capability to
deliver excellent service, increase market share and lower operating
costs. Guidewire InsuranceSuite™, consisting of Guidewire PolicyCenter®,
Guidewire ClaimCenter® and Guidewire BillingCenter® spans the key
functional areas in insurance – underwriting and policy administration,
claims management, and billing. Guidewire is headquartered in Foster
City, California, with offices in Beijing, Dublin, Hong Kong, London,
Munich, Paris, Sydney, Tokyo, and Toronto. For more information, please
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire
PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite, Deliver
Insurance Your Way, Guidewire PartnerConnect, and the Guidewire logo are
trademarks or registered trademarks of Guidewire Software, Inc.
Source: Guidewire Software, Inc.
Guidewire Software, Inc.
Diana Stott, +1 650-356-4941