Insurance Australia Group (IAG) Selects Guidewire for Claims Management

Guidewire ClaimCenter® will enable one of Australia’s largest general insurers to standardise claims handling

SAN MATEO, Calif. and SYDNEY, August 18, 2010:

Guidewire Software, a leading provider of flexible core systems to general insurers today announced that Guidewire ClaimCenter had been selected by Insurance Australia Group Limited (IAG) as its technology platform for claims management.  

IAG insures more than 2.2 million homes and 5.5 million cars in Australia.  The Group underwrites $7.8 billion of insurance premiums each year and employs approximately 13,000 people globally. 

“We are very excited to be working with IAG, one of Australia’s largest and highly regarded insurers,” said Ian Tavener, Vice President, Guidewire Software. “We look forward to helping the IAG team transform its claims operation.”

The ClaimCenter deployment will commence with IAG’s intermediated insurance business CGU. CGU is responsible for commercial, liability and personal insurance claims, managing on average 400,000 claims per year.

“We are looking forward to building our relationship with Guidewire and introducing the Guidewire ClaimCenter platform into our business,” said Ben Bessell, General Manager Claims, CGU.

ClaimCenter will allow CGU to implement more accurate, consistent and cost efficient claims handling practices, resulting in enhanced customer service for its policyholders and agents.

“We are very pleased to be working with a partner like Guidewire Software, as we focus on our strategic objective of driving operational efficiencies and improved customer service across our business. We are looking forward to a positive and productive relationship,” said Neil Whiteing, Group Chief Information Officer, IAG.    

With ClaimCenter, IAG will gain:

• A modern platform to consolidate and standardise claims handling systems and processes; eliminating many manual processes so that staff can focus on serving customers;
• The ability to execute best practices, leading to the enhanced service of its customers and agents;
• State of the art technology to support and empower staff efforts in serving customers.

Guidewire ClaimCenter is a leading end-to-end claims management system, built from the ground up to meet the specific needs of today’s general insurers. ClaimCenter’s flexible business rules enable claims organizations to define, enforce, and continually refine their preferred claim handling practices in order to optimize and monitor their claim processes. ClaimCenter is in use by general insurers of all sizes across all product lines to improve speed and accuracy, reduce loss adjustment expense, and enable proactive management of claims. ClaimCenter is available as a standalone system or as part of the Guidewire Insurance Suite™, and can be integrated to an insurer’s legacy systems or third party applications.

About Insurance Australia Group Limited (IAG)

Insurance Australia Group Limited (IAG) is an international general insurance group, with operations in Australia, New Zealand, the United Kingdom, and Asia. Its current businesses underwrite approximately $7.8 billion of premium per annum. It sells insurance under many leading brands including NRMA Insurance, CGU, SGIO, SGIC, Swann and The Buzz (Australia); NZI and State (NZ); Equity Red Star (UK); and NZI and Safety (Thailand).

For further information please visit http://www.iag.com.au/.

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.