“We have been a longtime Guidewire ClaimCenter customer, and Guidewire Cyence will enhance our ability to capture and analyze claims data to deliver insight that can help design new products and go-to-market strategies.”
Adam Rich, Head of Underwriting Technology
Beazley
Beazley has a reputation for developing innovative products and is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business.
This reputation is well-earned. Managing six Lloyd’s syndicates, Beazley’s goal—to effectively scale and develop its business—prompted the company to embark on a more than 10-year journey to leverage the very best possible aspects of its claims system organization-wide.
A long-time Guidewire ClaimCenter customer, Beazley has relied strength and flexibility of the system’s web-based architecture, and uses its claims system to support all phases of the claims handling process for all of Beazley’s lines of business worldwide. And consistent growth over the years prompted Beazley to upgrade its claims’ capabilities with Guidewire Cyence, which leverages the insurer’s internet-scale data collection capabilities to improve underwriting, capital and pricing efficiencies, and offer policy terms and premiums as quickly as possible to its customers. Working with Sollers Consulting, a Guidewire PartnerConnect Consulting partner, Beazley successfully implemented its claims transformation program.
Part of that transformation includes ClaimCenter’s full integration with the London Market Electronic Claims File Write-Back (ECF). Beazley worked closely with Guidewire to add ECF Write-Back to Guidewire’s London Market claims functionality. This functionality affords Lloyd’s Syndicates and the London company market the benefits of the shared electronic claims file system; meaning enriched pre-agreed data, transparency, tailored claims views, and significantly shortened claims lifecycles.
"The launch of the Lloyd’s Blueprint, the impact of the pandemic on our industry, and how we do business going forward have made improving efficiency and automation even more important to delivering greater value and service for our clients," said Beth Diamond, Group Head of Claims at Beazley. "We are very pleased that the ECF integration initiative addresses this need."
