Capital Insurance Group (CIG), a leading Property/Casualty (P/C) insurer
serving the Western United States, and Guidewire Software, Inc.
(NYSE:GWRE), a provider of software products to P/C insurers, today
announced that CIG has selected Guidewire PolicyCenter® as its new
underwriting and policy administration solution. CIG has also selected
Guidewire Rating Management™ and Guidewire Client Data Management™.
Guidewire PartnerConnect™ Consulting partner, PwC US, has been selected
to lead the implementation project.
After selecting Guidewire BillingCenter® earlier this year as part of a
larger ongoing business transformation initiative, CIG decided to expand
its Guidewire selection to include PolicyCenter. By consolidating its
three existing policy systems, the company hopes to simplify its
infrastructure, streamline business processes and gain the flexibility
needed to remain competitive in an evolving market. CIG will deploy
PolicyCenter across all lines of business in a phased implementation
approach, beginning with its BOP and commercial auto lines.
“Our team was very impressed with Guidewire’s track record of effective
implementations in the marketplace. We didn’t see that level of success
with any other system,” said Walter Bennett, vice president,
Underwriting, CIG. “With PolicyCenter, we’re deploying a technology that
will free our underwriters up to focus on what only they can do – have
conversations with agents about the nuances of risks. With improvements
in overall efficiencies and focused resource deployment, we’ll be able
to improve the overall level of service to our agents and insureds
through more agile product development and faster turnaround times.”
PolicyCenter will enable CIG Insurance to:
-
Enhance business agility by enabling product changes to be made more
quickly and easily without the delays of custom IT coding;
-
Leverage automated underwriting rules and real-time functionality to
eliminate manual processes; and
-
Standardize policy administration on a single, consistent platform for
agents and policyholders.
“From a technical perspective, our legacy policy systems were creating a
bottleneck each time we needed to update or enhance our systems,” said
Rads Mydam, chief information officer and vice president, Information
Technology, CIG. “It can take up to four months to make changes in the
current system. We’re looking forward to increasing our agility as a
result of PolicyCenter’s easy configurability and giving business users
more freedom to modify products and services as needed.”
“We are pleased to extend our relationship with CIG through their
PolicyCenter selection,” said Steve Sherry, group vice president,
America Sales, Guidewire Software. “We admire CIG’s dedication to
providing their policyholders and brokers with excellent products and
services, and we look forward to helping them meet their current and
future business objectives.”
Guidewire PolicyCenter® is a flexible underwriting and policy
administration system that enables Property/Casualty insurers to grow
business profitably by improving efficiency, while responding with
agility to market opportunities and enhancing relationships with agents
and customers. Designed to support both commercial and personal lines,
PolicyCenter helps insurers streamline front and back office processes,
from new business submission and quoting through policy renewals.
PolicyCenter is available as a standalone system or as part of Guidewire
InsuranceSuite™, and can be integrated to an insurer’s legacy systems or
third party applications.
About Capital Insurance Group
Capital Insurance Group® (CIG) is the leading regional property and
casualty insurer serving the Western U.S. since 1898. CIG insures
Personal Auto, Homeowners, Farmowners, Condo Owners, Vacation Property,
Renters, Apartment Building Owners, and many kinds of Commercial and
Agricultural Auto and Property. The more than 115-year-old company is
rated “A” (Excellent) by A.M. Best, the independent financial monitor of
the insurance industry. CIG manages personal, business, and agriculture
risks underwritten by its affiliate companies: California Capital
Insurance Company, Eagle West Insurance Company, Nevada Capital
Insurance Company, and Monterey Insurance Company. Types of policies may
vary from state to state. For more information, please visit www.CIGinsurance.com.
CIG DELIVERS MORE. Continuously.™
About Guidewire Software
Guidewire builds software products that help Property/Casualty insurers
replace their legacy core systems and transform their business. Designed
to be flexible and scalable, Guidewire products enable insurers to
deliver excellent service, increase market share and lower operating
costs. Guidewire InsuranceSuite™ provides the core systems used by
insurers as operational systems of record. Additional products provide
support for data management, business intelligence, anytime/anywhere
access and guidance and monitoring. More than 180 Property/Casualty
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.
Copyright Business Wire 2014