Guidewire Underwriting Management™ to increase underwriting
efficiency and improve responsiveness to brokers and agents
WARREN, N.J. & FOSTER CITY, Calif.--(BUSINESS WIRE)--Mar. 15, 2018--
Mitsui Sumitomo Marine Management (U.S.A.), Inc. (MSMM), a commercial
Property and Casualty (P&C) insurer, and Guidewire Software, Inc. (NYSE:
GWRE), a provider of software products to P&C insurers, today announced
that MSMM has successfully deployed Guidewire Underwriting Management™
as the new cloud-based underwriting workstation for its commercial lines
of business in the states where it operates. The company also recently
selected Guidewire ClaimCenter™ as its new claims management system, and
Guidewire CustomerEngage™ Account Management and Guidewire
ProducerEngage™ to enhance the digital claims experience of its
policyholders and agents.
MSMM deployed Underwriting Management to increase the efficiency and
effectiveness of its underwriters, to facilitate oversight of its
underwriting operations, and to improve responsiveness to brokers and
agents for both new and renewal business. The first phase of
implementation went live in October 2017, with Mitsui planning to gather
employee feedback over the course of 2018 that will drive enhancements
during the next implementation phase in 2019.
“Our current underwriting management process is not as efficient as we
would like since it is a paper or manual system. This also impacts the
ability of staff members travelling or working from home to engage
efficiently with the company,” said Michael Daly, chief underwriting
officer, MSMM. “With Underwriting Management automation, we will be able
to capture increased levels of productivity including a heightened
ability to work remotely, which will enhance our capacity to deliver
high-quality customer service.”
MSMM implementation project owners Marc Dantuono and Mike Farley said,
“The biggest advantages we are gaining from Underwriting Management are
a paperless environment and having the underwriting workflows all in one
place, funneling through one system. We have also been able to
standardize our processes across all our regions/zones.”
Underwriting Management is enabling MSMM to:
-
Offer a more efficient workflow by reducing clerical duties and data
errors
-
Strengthen compliance by enforcing underwriting mandated processes and
procedures
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Enhance service response times to brokers and agents
“We congratulate MSMM on its successful deployment of Underwriting
Management and are pleased that it has extended its relationship with us
through the selections of ClaimCenter, CustomerEngage Account
Management, and ProducerEngage,” said Mike Polelle, chief delivery
officer, Guidewire Software. “We applaud the company’s commitment to
seek ways to improve its work and business to achieve customer
satisfaction, and look forward to continuing to help the company adapt
and succeed in the rapidly-changing insurance industry.”
About Mitsui Sumitomo Marine Management (U.S.A.), Inc.
As part of the Mitsui Sumitomo Insurance Group (MSIG), Mitsui Sumitomo
Marine Management (U.S.A.), Inc. is responsible for managing the member
insurance companies located in the United States.
The U.S. member insurers of MS&AD Insurance Group, (“MSIG”) are
subsidiaries of Mitsui Sumitomo Insurance Company, Limited, which is
considered among the world’s top property and casualty insurance
companies. MSIG’s U.S. operation is part of a global network of
operations located in more than 40 countries, with its parent company
located in Japan. MSIG has a Standard & Poor’s rating of A+1 and an A.M.
Best Company Rating of A+ (Superior). MSIG specializes in providing
commercial property and casualty insurance products to its customers in
the United States. MSIG also offers risk management services consisting
of loss control and claims administration and rehabilitation services,
along with personal lines insurance services. For more information,
visit our website at www.msigusa.com.
MSIG refers to the MS&AD Insurance Group insurers underwriting coverage:
Mitsui Sumitomo Insurance Company of America, Mitsui Sumitomo Insurance
USA Inc. and Aioi Nissay Dowa Insurance Company of America. Actual
coverage is subject to the language of the policies as issued. For claim
services, whether or not or to what extent a particular loss is covered
depends on the facts and circumstances of the loss and the language of
the policies as issued. For risk engineering (loss control) services,
risk engineering documents are advisory in nature. They are offered as a
resource to be used together with professional insurance advisers in
maintaining a loss prevention program. MSIG assumes no liability by
reason of the information contained in such documents. MS&AD Insurance
Group, 15 Independence Boulevard, P.O. Box 4602, Warren, NJ 07059-0602.
About Guidewire Software
Guidewire delivers the software that Property and Casualty (P&C)
insurers need to adapt and succeed in a time of rapid industry change.
We combine three elements – core operations, data and analytics, and
digital engagement – into a technology platform that enhances insurers’
ability to engage and empower their customers and employees. More than
300 P&C insurers around the world have selected Guidewire. For more
information, please visit www.guidewire.com.
Follow us on twitter: @Guidewire_PandC.
NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180315005295/en/
Source: Guidewire Software, Inc.
Guidewire Software, Inc.
Diana Stott, +1-650-356-4941
Director,
Communications
dstott@guidewire.com