LV= Selects Guidewire for Claims Managment

LV= to standardize claims handling processes across its business with Guidewire ClaimCenter®

SAN MATEO, Calif., March 15, 2010:

LV=, the UK’s largest friendly society and leading general insurer today announced the selection of Guidewire Software®, a leading provider of flexible core systems to  property/casualty (general) insurers, as the provider of its new claims handling platform for its home and motor insurance lines of business.

Guidewire ClaimCenter® is a market-leading end-to-end claims system that manages the entire claim lifecycle from first notification of loss through settlement, litigation, and recovery. Guidewire ClaimCenter will enable LV= to improve the speed and accuracy of claims settlement and enable proactive management of claims including better fraud detection and reduction in claims leakage. Additional lines of business will be processed through Guidewire ClaimCenter in subsequent project phases.

Peter Horton, LV= operations director, commented: “Guidewire ClaimCenter provides our handlers with a state-of-the-art claims system that will enable them to efficiently and consistently process claims in accordance with our best practice standards and reduce administration, freeing them to focus their expertise on enhancing the service to our customers. ClaimCenter’s modern technology platform, ease of configuration and comprehensive functionality are well suited to our needs.”

Tracey Robinson, Guidewire Software regional sales director, said: “ClaimCenter has been developed to enable insurers to operate an effective claims process that creates first class customer service while delivering improved processing and operating efficiencies for insurers. This combination complements LV= approach and we look forward to our work together in helping them take their claims business to the next level.” 

Guidewire ClaimCenter is a leading end-to-end claims system for property/casualty insurance. ClaimCenter’s flexible business rules enable claims organizations to optimize and monitor the claim process.  Claims executives can define, enforce, and continually refine their preferred claim handling practices. In addition, ClaimCenter uses modern technology architecture, including a 100% Web client and Web services interface, which enables lower total cost of ownership in any environment.

About LV=

LV= is a registered trade mark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies.

LV= employs over 3,800 people, serves around 3.8 million customers and members, and manages around £7.7 billion on their behalf. We are also the UK’s largest friendly society (Association of Friendly Societies Key Statistics 2008, total net assets) and a leading mutual financial services provider. For more information, please visit: http://www.lv.com/.

LV= and Liverpool Victoria are registered trade marks of Liverpool Victoria Friendly Society Limited and LV= and LV= Liverpool Victoria are trading styles of the Liverpool Victoria Group of companies. Liverpool Victoria Insurance Company Limited, registered in England and Wales number 3232514, is authorised and regulated by the Financial Services Authority, register number 202965. Registered address for both companies: County Gates, Bournemouth BH1 2NF. Tel: 01202 292333.

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 Beijing, Dublin, Hong Kong, London, Munich, Paris, Sydney, Tokyo, and Toronto. For more information, please visit www.guidewire.com.