Guild Insurance Limited, one of Australia’s pre-eminent suppliers of property and casualty insurance products and services to niche markets, and Guidewire Software®, a leading global provider of solutions to property and casualty insurance and workers compensation companies, today announced that Guild Insurance has selected Guidewire to help modernize its core insurance systems. Upon deployment of this phased multi-year implementation, Guidewire’s software will fully replace Guild’s current end-to-end claims handling, policy administration, billing and reinsurance solutions. A significant percentage of these functions are performed manually today, so the implementation of the Guidewire solution will mark a fundamental change in the way Guild is able to operate its business. The implementation project will begin with claim system replacement which is currently underway and scheduled for deployment in late 2008.
“Guild is a very customer-centric organization; our current systems were hindering our ability to fully deliver on our strategic vision,” said David Brown, General Manager, Guild Insurance. “Guidewire will enable us to transform and grow our business, operate and add new products more flexibly and above all, provide even better service to our clients.”
With Guidewire, Guild will gain the ability to:
Fundamentally change the way it does business through process flow automation and a flexible rules-driven architecture;
Operate its business more in line with its founding customer-centric principles;
Systemize and standardize its processes to gain efficiency and improved governance capabilities; and
Readily integrate core systems to all associated applications.
“This is a significant enterprise-wide undertaking for Guild. To help us select the right vendor, we developed a ‘Decision Selection Model’ at the outset of our project. This model was invaluable in helping us judge the strength of prospective vendors in areas of Process (functionality), Architecture, and Partnership,” said Robert Tepe, Chief Information Officer, Guild Insurance. “We selected Guidewire as our business partner – for the quality of its people, its strong corporate values, product robustness, and the flexibility of its architecture.”
“Guild is addressing the challenge that many similar insurers face – the modernization of an ‘all-in-one’ legacy insurance system,” said Ian Tavener, vice president, International Operations, Guidewire Software. “We are thrilled that Guild has selected Guidewire applications and our approach to hollowing out the old system in favor of a modern application. We are convinced that this offers the most promising path to breakthrough performance.”