Nationwide Mutual Insurance Company, one of the largest insurance and financial services companies in the United States, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty (P/C) insurers, today announced that Nationwide has successfully implemented Guidewire PolicyCenter® as its new underwriting and policy administration solution. Guidewire PartnerConnect™ Consulting partner, EY, led the implementation, working in close collaboration with Nationwide and Guidewire.
Nationwide selected PolicyCenter to consolidate its multiple policy administration systems with one that could help the company increase its customer service capabilities, enable better underwriting risk analysis, and provide the needed flexibility to grow with its business. Following the conclusion of their implementation project, the company is now in pilot production with its Personal Umbrella line of business in one state, supporting two out of three sales channels. The company is also in production with Guidewire ClaimCenter.
“Our initial PolicyCenter implementation has gone very smoothly and user feedback has been overwhelmingly positive,” said Jim Korcykoski, CIO Personal Lines & Direct, Nationwide Insurance. “We attribute our successes to date to a combination of lessons learned from our ClaimCenter implementations, a very strong and dedicated internal team, great partners, and the Guidewire technology. This implementation is a significant step in our journey to simplify our products and processes onto a common set of platforms. This simplification gives us the speed-to-market, agility, and cost advantage necessary to enable our business strategy.”
PolicyCenter is enabling Nationwide to:
Leverage automated underwriting rules and real-time functionality;
Streamline the training of staff as a result of PolicyCenter’s intuitive interface; and
Bring new products and product enhancements to market more quickly.
“We congratulate Nationwide Insurance on their successful deployment of PolicyCenter,” said Mike Polelle, chief customer officer, Guidewire Software. “We admire the focus Nationwide places on its members, and we are proud to work with them to help them achieve their customer service and business transformation goals.”
Guidewire PolicyCenter is a flexible underwriting and policy administration system that enables Property/Casualty insurers to grow business profitably by improving efficiency, while responding with agility to market opportunities and enhancing relationships with agents and customers. Designed to support both commercial and personal lines, PolicyCenter helps insurers streamline front and back office processes, from new business submission and quoting through policy renewals. PolicyCenter is available as a standalone system or as part of Guidewire InsuranceSuite™, and can be integrated to an insurer’s legacy systems or third party applications.