Core system transformation project plays key role in workers’ comp
ENCINO, Calif. & FOSTER CITY, Calif.--(BUSINESS WIRE)--Apr. 6, 2017--
Guidewire Software, Inc. (NYSE:GWRE), a provider of software products to
Property and Casualty (P&C) insurers, today announced that Republic
Indemnity has been named a “Model Insurer” in the Celent Model
Insurer 2017: Case Studies in Legacy and Ecosystem Transformation report
for the successful completion of its transformative core system
replacement initiative. They received this recognition as “Model
Insurer” in the Legacy Modernization category for successfully
completing the transformation of their core systems. Despite the
project’s complexity and magnitude, Republic Indemnity implemented the
new system on time and under budget, while keeping the transition
seamless for its agents and policyholders.
Building on its 2009 deployment of Guidewire ClaimCenter®, Republic
Indemnity successfully implemented Guidewire PolicyCenter for its
workers’ compensation line of business to fully modernize its system
infrastructure and address the changing demands of its markets, which
included the need for multi-state policies. The new system has been in
production since June 2015. Republic Indemnity continued to add
functionality and has migrated all in-force policies into PolicyCenter.
Renewal migration from the legacy system was completed in September
2016. Republic Indemnity is now in production with Guidewire
InsuranceSuite™ for claims, policy administration, and billing. The
company is also using Guidewire Rating Management™, Client Data
Management, and Standards-Based Templates.
“The deployment of PolicyCenter represents a significant milestone in
our company’s long-term business transformation initiative and completes
the legacy replacement of our core systems,” said Rao Tadepalli, senior
vice president and chief information officer, Republic Indemnity.
“Thanks to a combined Guidewire-Republic Indemnity implementation team,
we were able to deploy PolicyCenter on time and under budget. We look
forward to enjoying the benefits of our Guidewire products for years to
“The underlying flexible architecture of the Guidewire core systems has
allowed us to easily integrate with external partners, suppliers, and
other systems for a streamlined insurance experience,” added David
Simmeth, vice president, Enterprise Applications, Republic Indemnity.
“Republic Indemnity is honored to be named a 'Model Insurer' by Celent,
a well-respected analyst firm covering the insurance and banking
industries, and we are pleased that Celent has recognized our successful
transformation project and the benefits we are receiving as a result.
This award is a testament to the effort invested by our business and IT
teams, whose collaborative partnership truly enabled this successful
implementation,” continued Tadepalli.
“We congratulate Republic Indemnity on being recognized as a 2017 Model
Insurer by Celent and for their most recent successful project with
PolicyCenter,” said Mike Polelle, chief delivery officer, Guidewire
Software. “We are impressed with the work they have done and are
delighted that they have been recognized with this well-deserved honor.”
Celent’s annual award program selects “Model Insurers” and recognizes
them for their achievements in the strategic development, degree of
innovation, and business and customer impact of insurance technology.
Sixteen insurance technology initiatives were recognized as “Model
Insurers” including the Celent Model Insurer of the Year. These case
studies represent best practices in the use of technology and span key
areas of the product and policyholder life cycle, including product
definition, distribution, underwriting, policy administration, service,
claims, and infrastructure. The award program also reviews IT best
practices and measurable business results to evaluate the Model Insurer
Components. Members of Celent's research services can download the Celent
Model Insurer 2017: Case Studies in Legacy and Ecosystem Transformation report
About Republic Indemnity Company of America
Republic Indemnity Company of America is a member of Great American
Insurance Group, whose member companies are subsidiaries of American
Financial Group, Inc. (NYSE:AFG).
On May 12, 2016, Republic Indemnity's rating "A" (Excellent) was
reaffirmed by A.M. Best. Republic has been rated "A-"
(Excellent) or better by A.M. Best for over 30 years. Headquartered
in Encino, California, the company specializes in workers' compensation
insurance throughout the western United States. California offices are
located in Encino, San Francisco, and San Diego. Other state operations
are in Portland, Oregon; Phoenix, Arizona; Denver, Colorado; and Las
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
260 P&C insurers around the world have selected Guidewire. For more
information, please visit www.guidewire.com.
Follow us on twitter: @Guidewire_PandC.
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire
PolicyCenter, Guidewire BillingCenter, are registered trademarks of
Guidewire Software, Inc. in the United States and/or other countries.
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Source: Guidewire Software, Inc.
Guidewire Software, Inc.
Diana Stott, +1 650-356-4941
Financial Group, Inc.
Diane P. Weidner, +1 513-369-5713
Vice President, Investor and Media Relations