Guidewire Software, Inc. (NYSE: GWRE), provider of the industry platform Property and Casualty (P&C) insurers rely upon, congratulates the winners of its 2018 Innovation Awards: Economical Insurance with Deloitte, Motorists Insurance Group with PwC, and Zurich Mexico. In its twelfth year, this year’s awards honor customers that are adapting to an accelerating pace of industry change and evolving customer needs in innovative ways. Winners were announced during Guidewire’s fourteenth annual user conference – Connections 2018.
The 2018 winners are:
Economical Insurance (with Deloitte) for redefining the broker experience. *Economical is making it easier for brokers to match customers with the right insurance coverage with the launch of Vyne, its broker engagement system. Designed with input from market-leading partners and continuous broker feedback, Vyne strengthens Economical’s commitment to the broker channel by providing faster service, streamlined workflows, and customer-centric products and pricing, built on its Guidewire core system foundation*.
Economical built Vyne to recalibrate its business to align with shifting customer expectations, while setting new standards for the P&C insurance industry in Canada. Using integration between broker quoting, broker management systems (BMS,) and Economical’s core insurance platform, Vyne offers a seamless, end-to-end solution.
The solution empowers brokers with increased quoting accuracy, policy documents that are easy for customers to understand, and improvements to Economical’s personal lines and individually rated commercial auto (IRCA) coverage.
Vyne leveraged existing Guidewire PolicyCenter™ and BillingCenter systems that were used to build Sonnet, Economical’s award-winning digital-direct brand.
Economical has been an in-production PolicyCenter and BillingCenter customer since 2016.
For additional information on Economical Insurance, visit www.economical.com.
Motorists Insurance Group (with PwC) for creating a new Motorists. Motorists leveraged an innovative ‘greenfield’ start-up approach to deliver business and IT benefits with their transformational program, utilizing Guidewire InsuranceSuite™ and Guidewire Digital applications. The program has enabled Motorists to essentially create a new company and offer insurance to agents and policyholders in a way that meets current demands including real-time processing, ease of use, and accessibility on any device.
In their 2021 Vision, which outlines critical objectives to be accomplished, Motorists sought to transform the way it did business and kicked off a transformation program that aimed to create a new company using Guidewire and other vended technologies to support a new business operating model, commercial lines products, and organizational structure.
As part of this initiative, Motorists reinvented its customer experience, for both agents and policyholders, with Guidewire Digital applications. Agents are empowered with a seamless, omnichannel digital experience and a reduction in the time required to quote, change, and bind a policy. Motorists also launched Guidewire CustomerEngage to deliver state-of-the-art digital service for policyholders for all lines to enable access to policy information, billing history, claims, FNOL and documents.
Motorists has been an in-production InsuranceSuite and Guidewire Digital customer since 2017.
For additional information on Motorists, visit www.motoristsinsurancegroup.com.
Zurich Mexico for improving customer satisfaction. To improve customer satisfaction, Zurich Mexico leveraged Guidewire ClaimCenter™ and Guidewire Digital applications to streamline the Mexican onsite auto claims process. Following the implementation, Zurich Mexico has been able to reduce customer waiting time by using geolocalization, workload status to assign new cases, and new interaction capabilities (apps and portals for customers and vendors were deployed).
Mexican insurance regulations require that field adjusters meet customers at the scene of automobile accidents. When onsite, the adjuster assigns services, such as medical and body shop repairs and delivers on demand printed forms to the customer. Information captured on site then needs to be synchronized in real time to be available to all central teams including Claims Handling, Appraisal, Fraud, Recoveries, and Vendor Management. This process presented challenges as it includes manual inefficiencies.
Zurich Mexico implemented Guidewire ClaimCenter™ and Guidewire Digital applications (CustomerEngage Account Management, Claim Portal for Policyholders and VendorEngage) to address the challenges of the Mexican insurance market claims handling requirements and to process claims more quickly and efficiently. As a result, Zurich Mexico has been able to reduce time required for first notice of loss due to geo-located adjusters and tasks that can be assigned based on adjuster workload. In addition, Zurich Mexico can communicate with customers faster than before due to digital modules Guidewire has incorporated. Internal benefits include improvement in technical metrics and reduction in cycle times.
Zurich Mexico has been an in-production ClaimCenter and Guidewire Digital customer since 2017.
For additional information on Zurich Mexico, visit www.zurich.com.mx.
“Congratulations to the 2018 Guidewire Innovation Award winners,” said Laura Drabik, group vice president, Business Innovation, Guidewire Software. “We continue to be impressed by our customers’ commitment to innovation and the ways in which they leverage their investment in Guidewire InsurancePlatform to best serve their policyholders and agents, helping them run, differentiate, and grow their business in a time of rapid change.”
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 400 insurers, from new ventures to the largest and most complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.