Guidewire InsuranceSuite, a suite of enterprise systems, provides
cost savings, ensures flexibility and versatility, and supports
mission-critical operations for Property/Casualty insurer
TOKYO & FOSTER CITY, Calif.--(BUSINESS WIRE)--Nov. 6, 2012--
Guidewire Software, Inc. (NYSE: GWRE), a provider of flexible core
system software to Property/Casualty (general) insurers, and SBI
Insurance Company Ltd. (SBI Insurance) today announced that SBI
Insurance has implemented the full-scale use of Guidewire
InsuranceSuite™ for its “Cancer Insurance” (for medical treatments not
covered by health insurance), which SBI Insurance started offering in
August 2012. This marks the first implementation of InsuranceSuite by a
Japanese Property/Casualty insurer.
SBI Insurance decided to build an entirely new core system for its new
Cancer Insurance offering, as the company’s current platform lacked
flexibility and agility. The new system needed to cover the complete
range of functionality necessary to conduct general insurance business
and have a system architecture that would enable high levels of
flexibility and scalability, in line with SBI Insurance’s information
systems policy of “compact systems” and “compact operations.” After
careful comparison and evaluation of several commercially available
systems, SBI Insurance decided to select and implement InsuranceSuite.
“SBI Insurance has focused on delivering customer-centric services since
the company was founded. We have endeavored to provide our customers
with high-quality services that leverage the benefits of web-based
services at the lowest insurance rates in the industry,” said Kazunosuke
Fujioka, Director, SBI Insurance. “Guidewire’s product vision is very
close to our own. Guidewire provides well thought-out solutions and
consulting services that will allow us to reach self-sufficiency in
operating the system. As a result, we will be able to implement a system
that meets our demands in terms of superior quality, agility and
cost-effectiveness.”
Guidewire InsuranceSuite will enable SBI Insurance to:
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Leverage a system architecture that provides high levels of
flexibility and scalability;
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Utilize an industry-specialized solution that features enhanced
functionality and superior cost-effectiveness; and
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Ensure agility by providing the ability to make changes and upgrades
to the systems in-house.
InsuranceSuite will potentially be used for other product lines in
addition to Cancer Insurance.
The implementation of SBI Insurance’s new system began in February 2012,
and involved SBI Insurance, a team of Guidewire specialists, and B-Prost
as the System Integrator. In the first phase of the project,
PolicyCenter (underwriting and policy administration system) and
BillingCenter (billing and receivables management system), two of the
three systems that make up Guidewire InsuranceSuite, were implemented in
six months—the shortest dual-product implementation by a Guidewire
customer worldwide. SBI Insurance recently went live with ClaimCenter,
the third system of the suite, completing the entire project in only
nine months. Mr. Fujioka had the following to say about the project:
"This was our company's first experience with Agile development
methodology. As such, there was a bit of initial confusion, but both
teams worked closely together and were able to solve problems and
questions through close communication. Not only did the Guidewire team
have a high level of technical skill, they also had a very good
understanding of the Property and Casualty insurance business that is
specific to Japan and were able to work through the project without any
major difficulties. The project had to be completed in a short
time-frame, and they managed to pull it off within schedule and under
budget."
"We congratulate SBI Insurance on becoming the first company in Japan to
implement Guidewire InsuranceSuite,” said Ian Tavener, Vice President,
Asia Pacific, Guidewire Software. “SBI Insurance proactively implemented
an advanced system to help the company deliver the best service to its
customers. We are pleased that SBI Insurance can rely on Guidewire
InsuranceSuite - a high-quality, cost-effective system - to achieve
further business expansion.”
Guidewire InsuranceSuite powers the mission-critical operations of
property/casualty insurers competing in today’s market. The suite was
designed using a modular approach, enabling insurers to select
individual applications -- Guidewire PolicyCenter®, Guidewire
BillingCenter®, and Guidewire ClaimCenter® -- or a pre-integrated set,
driven by their requirements and priorities. InsuranceSuite provides the
flexibility insurers need to deliver insurance the way they want to, by
rapidly delivering better products and service to their policyholders
and agents, while improving underwriting discipline and lowering
operational costs.
About SBI Insurance Co., Ltd.
Based on its corporate philosophy of "Delivering greater peace of mind
in the lives of more customers," SBI Insurance is using the Internet to
the greatest extent possible, to deliver easier-to-understand,
easier-to-use general insurance services to its customers. The company
is also aiming to become a general insurance company that its customers
feel familiar with and trust. For more information, please visit http://www.sbisonpo.co.jp/.
About Guidewire Software
Guidewire Software is a provider of core system software to the global
Property/Casualty (general) 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 San Mateo,
California, with offices in Tokyo, Beijing, Hong Kong, Dublin, London,
Munich, Paris, Sydney, and Toronto. For more information, please visit www.guidewire.com.
© 2012 Guidewire Software, Inc. All rights reserved. Guidewire,
Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter,
Guidewire BillingCenter, Guidewire InsuranceSuite, Guidewire Live,
Before & After, Guidewire PartnerConnect, Deliver Insurance Your Way,
and the Guidewire logo are trademarks, service marks, or 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
Public
Relations Manager
dstott@guidewire.com