Meet Guild Insurance Limited

Business Benefits

• Enabled underwriters to see at a glance which policies are in a high-risk area, such as a flood or crime zone, so they can more accurately underwrite the risk
• Streamlined core processes and enabled proactive claims/customer service benefits

The Story

Guild Insurance is one of Australia's leading suppliers of general insurance products and services to niche markets, particularly within the healthcare and childcare sectors. Guild serves individual professionals and their businesses with a comprehensive range of products and value-added services that are tailored to their needs. 

Part of the company’s strategic vision called for an overhaul of its technology platform, resulting in a multiyear core systems modernization project that began with an end-to-end claims system replacement with Guidewire ClaimCenter, followed by implementation of Guidewire BillingCenter, Guidewire PolicyCenter, and a reinsurance solution.

The insurer was able to implement a proactive loss control plan in 2014 when a Category 5 cyclone was predicted to wreak havoc among Guild’s customers on the northern coast of Queensland. Underwriters can see at a glance which policies are in a high-risk area, such as a flood or crime zone, so they can more accurately underwrite the risk.

In Guild’s case, Guidewire Live Spotlight facilitated customized views of storm data, so the insurer could map where policyholders were located in relation to the cyclone’s expected path, and run various what-if scenarios to quickly identify which customers were likely to be affected. This enabled Guild to make data-driven decisions on how best to respond to the impending threat, and notify policyholders, adjusters, and suppliers in its wake.  

After the storm hit, Guild was able to track the number, location, and type of claims coming in. Because the field adjusters knew in advance which claims were most relevant—those with property and contents coverage, for example—they were able to handle every claim quickly, because they were well prepared.

Guild now can transact its claims handling business with technology supporting its desired processes, capture claims data once for long-term efficiency gains over the life of the claim, systemize and standardize claims handling processes to efficiently and accurately run its business and comply with changing regulatory requirements, and monitor team workloads online—redistributing claims accordingly.

Guild is happy with the additional core systems support offered to underwriters. “We are excited about how Guidewire Live Spotlight will support our underwriters in visualizing the geospatial and natural peril exposures associated with a property/location being underwritten and to see the other risks that we underwrite in the vicinity,” said Alastair Latimer, Insurance Systems Manager at Guild Insurance.