Celebrating a decade of customer innovation and
honoring those companies that have best demonstrated business and
IT benefits experienced through use of Guidewire
InsurancePlatform™
CONNECTIONS CONFERENCE – Guidewire Software, Inc.
(NYSE:GWRE), a provider of software products to Property/Casualty
insurers, congratulates the winners of its 2016 Innovation Awards:
Atlas Financial Holdings, Inc., Economical Insurance with Deloitte,
Nationwide, and QBE Insurance Australia with EY. In its tenth year,
this year’s awards honor customers that are adapting to market
changes and evolving customer needs in innovative ways. Winners
were announced during Guidewire’s twelfth annual user conference –
Connections 2016.
The 2016 winners are:
Atlas Financial Holdings, Inc. – Atlas worked with
Guidewire Predictive Analytics™ (EagleEye at the time the project
was initiated) to develop a related series of predictive models in
connection with the company’s claim process. The project’s key
objectives were to best leverage the expertise of the Atlas claims
staff by focusing the right resource on each claim to improve claim
outcomes for the company and customers alike, and to reduce
volatility in connection with the company’s case reserves.
Atlas deployed Guidewire Predictive Analytics™ for Claims in
order to streamline claims routing, better predict ultimate
severity and set case reserves using the model. Since deploying the
model, Atlas has developed a claims integration tool that allows
the company to automatically reset case reserves in real time upon
receipt of the scored claims from the model. As a result, Atlas can
now redirect the effort previously spent setting case reserves to
influencing and driving more favorable dispositive claim outcomes.
Atlas’s ability to re-run the models regularly using Guidewire
Predictive Analytics’ machine learning tools will ensure that claim
trends and loss cost inflation are identified earlier and reflected
in expected outcomes.
Atlas has been leveraging Guidewire Predictive Analytics™ for
Profitability since 2015 and Predictive Analytics for Claims since
2016.
For additional information on Atlas, visit
www.atlas-fin.com.
Economical Insurance with Deloitte – Economical Insurance
has taken the Guidewire Core product and layered it with advanced
third party analytics and sophisticated IT infrastructure to create
Sonnet, an industry-leading digital insurance experience that puts
the customer first.
Economical Insurance partnered with Deloitte to create Sonnet,
and launched with personal home insurance in May 2016, followed by
a personal auto insurance launch in August 2016.
The innovative digital experience offers Canadians a customized,
bindable quote seconds after answering a handful of simple
questions. The company worked diligently to craft and deliver
straightforward information so customers understand what they are
purchasing. With Sonnet, Economical Insurance is “rewriting
underwriting.”
Guidewire PolicyCenter® and BillingCenter make up the foundation
to support Economical’s consumer experience and advanced use of
technology.
Economical has been an in-production PolicyCenter and
BillingCenter customer since 2016.
For additional information on Economical Insurance, visit
www.economical.com.For additional information on Deloitte, visit
www.deloitte.ca.
Nationwide – Nationwide delivered business value to its
members faster, cheaper and with higher quality using Guidewire
Claim Portal™.
Nationwide was looking to enhance its member experience and
self-service capabilities for claim inquiry, claim filing, and
vendor services such as repair shop selection, appointment
scheduling, glass repair, and rental.
The company developed a solution leveraging Guidewire Digital
Portal APIs, which provide real-time access to claim information
and also reuse existing core ClaimCenter capabilities, speeding
time to market. The solution introduced a completely digital claims
process enabling Nationwide members to report losses via their
preferred channel and receive real-time progress on the claim
directly. In addition, the solution allows the necessary claim
documentation and images to be uploaded online, and all claims
information is accessible to back office staff the moment it is
submitted. It truly delivers an omnichannel experience.
In its first three months of availability for glass damage
claims, the solution contributed to a 10x increase in portal usage,
and Nationwide’s members have registered over 800 new online
accounts. It has also significantly reduced call volume to the
company’s contact center. Finally, the technology solution was
delivered sooner than anticipated, creating IT cost savings.
Nationwide has been an in-production ClaimCenter customer since
2013, an in-production PolicyCenter customer since 2014, and an
in-production Digital Portal Claim customer since 2016.
For additional information on Nationwide, visit
www.nationwide.com.
QBE Insurance Australia with EY – QBE sought to become a
digital distribution enterprise focused on personalized engagement
with seamless touch points, agile processes, and enhanced customer
engagement. Guidewire and EY helped bring the insurer's vision to
life by architecting and implementing Guidewire InsuranceSuite™
software for their Direct Insurance Business.
Working together, QBE and EY completed a direct insurance
systems transformation in 20 months, delivering a platform that
would form the foundational basis for future lines of business.
Through planning, understanding the QBE target model, and
controlling scope the project delivered an insurance eco-system
that:
- Within 30 days of going live enabled
improvements in online new business;
- Six months after going live had shown
an increase in the number of policies automatically underwritten,
through improved straight through processing; and
- Experienced overall improvements in
customer workflow management and a significant shift from telephone
to online sales.
QBE Insurance Australia has been an in-production
InsuranceSuite, DataHub, InfoCenter and Digital Portals customer
since 2015.
For additional information on QBE Australia, visit
www.qbe.com.au.For additional information on EY, visit
www.ey.com.
“On behalf of the Guidewire team, I am pleased to extend our
congratulations to the 2016 Guidewire Innovation Award winners,”
said Mike Polelle, chief delivery officer, Guidewire Software. “We
see our customers’ commitment to continually improving how they
serve their policyholders’ and agents’ needs and are responding in
kind by providing the technology platform they require to meet
their current and future needs.”
About Guidewire Software
Guidewire delivers the software that Property/Casualty (P/C)
insurers need to adapt and succeed in a time of rapid industry
change. We combine three elements – core operations, data and
analytics, and digital engagement – into a technology platform that
enhances insurers’ ability to engage and empower their customers
and employees. 260 P/C insurers around the world have selected
Guidewire. For more information, please visit www.guidewire.com.
Follow us on twitter: @Guidewire_PandC.
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter,
Guidewire PolicyCenter, and Guidewire BillingCenter are registered
trademarks of Guidewire Software, Inc. in the United States and/or
other countries.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161026005605/en/
Guidewire Software, Inc.Diana Stott, +1 650-356-4941Director,
Communicationsdstott@guidewire.com
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