Guidewire PolicyCenter® implemented in nine months – on time and
under budget, contributing to lowering global specialty
Property/Casualty insurer’s total cost of ownership
Endurance Specialty Holdings Ltd. (NYSE: ENH), a Bermuda-based specialty
provider of Property and Casualty (P/C) insurance and reinsurance, and
Guidewire Software, Inc. (NYSE: GWRE), a provider of software products
to P/C insurers, today announced that Endurance has successfully
implemented Guidewire PolicyCenter® as its new underwriting and policy
management solution. Endurance also implemented Guidewire Client Data
Management™.
Following a successful ClaimCenter deployment, Endurance selected
PolicyCenter to replace its previous policy administration systems,
which consisted of multiple, discrete systems requiring significant
testing and maintenance to ensure peak performance. Endurance
successfully deployed PolicyCenter for its retail and wholesale excess
casualty insurance lines of business, with approximately 40 concurrent
users. This number is expected to grow to 100 users with future
deployments. As part of the next phase of the implementation project,
Endurance will focus on implementing PolicyCenter for its professional
liability insurance line of business in London. Endurance plans to
follow with the implementation of BillingCenter in 2016 as the final
component of an integrated, end-to-end technology platform that takes
advantage of the full functionality and benefits the Guidewire platform
has to offer.
“Our PolicyCenter implementation has gone smoothly and user feedback has
been very positive. In fact, the feedback on the first day of deployment
was the best I have received since I began my insurance career,” said
Alfred Goxhaj, Chief Information Officer of Endurance. “By following a
mainly out-of-the-box implementation approach, with only minor
customization, we were able to complete the project within a very
compressed timeframe and under budget.”
PolicyCenter is enabling Endurance to:
-
Enhance customer service levels and satisfaction by providing a fully
automated solution rich in functionality;
-
Increase business agility by bringing new products and product
enhancements to market more quickly by minimizing custom development
and multiple phase approaches;
-
Improve operational efficiencies and lower the cost per transaction by
significantly reducing manual intervention; and
-
Enhance data and analytical capabilities by standardizing on a modern,
well-built software technology platform that provides a vast and
granular data set.
“I commend the Guidewire technical and account teams, who provided
immensely valuable advice and support throughout the implementation
process, thereby establishing a strong partnership overall,” continued
Goxhaj. “This implementation is a significant step in our journey to
simplify our underwriting systems and processes onto a common set of
platforms, giving us the speed-to-market, agility, and cost advantage
necessary to enable our business strategy.”
“We congratulate Endurance on their quick and successful PolicyCenter
deployment,” said Mike Polelle, Chief Delivery Officer, Guidewire
Software. “We are honored to provide the technology foundation that will
help them adapt and succeed in the rapidly-changing insurance industry
marketplace.”
About Endurance Specialty Holdings
Endurance Specialty Holdings Ltd. is a global specialty provider of
property and casualty insurance and reinsurance. Through its operating
subsidiaries, Endurance writes agriculture, casualty and other
specialty, professional lines and property lines of insurance and
catastrophe, property, casualty, professional lines, and specialty lines
of reinsurance. The company maintains excellent financial strength as
evidenced by the ratings of A (Excellent) from A.M. Best (XV size
category) and A (Strong) from Standard and Poor's on our principal
operating subsidiaries. Endurance's headquarters are located at Waterloo
House, 100 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing
address is Endurance Specialty Holdings Ltd., Suite No. 784, No. 48
Par-la-Ville Road, Hamilton HM 11, Bermuda. For more information about
Endurance, please visit www.endurance.bm.
About Guidewire Software
Guidewire delivers the software that Property/Casualty (P/C) insurers
need to adapt and succeed in a time of rapid industry change. We combine
three elements – core processing, data and analytics, and digital
engagement – into a technology platform that enhances insurers’ ability
to engage and empower their customers and employees. More than 200 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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