SBI Insurance is deploying new core system suite to support the
entire range of general insurance business processes and to expand its
service offerings
SAN MATEO, Calif.--(BUSINESS WIRE)--May. 2, 2012--
Guidewire Software Inc. (NYSE: GWRE), a provider of core system software
to Property/Casualty (general) insurers, today announced that SBI
Insurance is implementing Guidewire InsuranceSuite™ as its new core
systems which will support the expansion of new, high-quality services.
This marks the first implementation of Guidewire InsuranceSuite by a
Japanese Property/Casualty insurer.
SBI Insurance has launched a project to implement new core systems in
support of its new insurance service offering, in order to expand its
business and further improve its competitiveness. The new systems need
to cover not only the complete range of functionality necessary in order
to conduct general insurance business, but also need to have the kind of
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 available systems, SBI Insurance selected
Guidewire InsuranceSuite systems for rating, underwriting, policy
administration, billing and claims management.
SBI Insurance Director Kazunosuke Fujioka explained, “SBI Insurance has
maintained the delivery of customer-centric services as its vision 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. Guidewire
Software’s product vision is very close to our own. Guidewire Software®
provides highly accomplished solutions and consulting services with the
premise that, in the final analysis, we operate the system ourselves.
The result is that 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 InsuranceSuite’s highly flexible and scalable system
architecture;
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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 having the ability to make changes and upgrades to
the systems in-house.
“We are very pleased that SBI Insurance has become the first company to
implement Guidewire InsuranceSuite in Japan. I believe this results from
our being able to provide a next generation core system that addresses
SBI Insurance’s desire to deliver the best services to their customers
through the proactive implementation of an advanced system,” said Ian
Tavener, Vice President, Asia Pacific Regional Headquarters, Guidewire
Software. “We are pleased to be able to help SBI Insurance to achieve
further business expansion through the realization of an advanced system
with high quality and cost effectiveness, through the implementation of
Guidewire InsuranceSuite.”
SBI Insurance has started its new system construction project, targeting
full system operation in the first half of fiscal 2012.
Guidewire InsuranceSuite™ provides the flexible core systems essential
for the mission-critical operations of Property/Casualty insurers
competing in today’s market: underwriting and policy administration,
claims management, and billing. The suite was designed using a modular
approach, enabling insurers to select individual applications --
Guidewire PolicyCenter®, Guidewire ClaimCenter® and Guidewire
BillingCenter® -- or a pre-integrated set, driven by their requirements
and priorities. The suite 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. Insurers’
personnel (including underwriters, customer service representatives,
adjusters, supervisors, and executives) gain intuitive, productive
role-specific user interfaces. Insurer IT organizations gain flexibility
in addressing evolving business requirements through consistent tools
for configuring and enhancing operational data stores, user interfaces,
workflows and business logic across their underwriting and policy
administration, claims management, and billing systems.
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.
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire
PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite,
Guidewire PartnerConnect, Deliver Insurance Your Way, 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
Public
Relations Manager
dstott@guidewire.com
