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New version of Guidewire’s policy administration system enhances automation of underwriting, policy administration, and new product introduction

Guidewire Software®, Inc., a leading provider of solutions for property and casualty insurers, today announced the release and immediate availability of Guidewire PolicyCenter® 2.0, a comprehensive policy administration system for commercial and personal lines of property and casualty (P&C) insurance. Guidewire PolicyCenter 2.0 is a 100% web-based system-of-record optimized to: make it easier for producers to do business with insurance carriers by providing straight through processing, automate renewal handling for enhanced accuracy and efficiency, and to bring new products to market quickly through core policy administration system flexibility. Several PolicyCenter 2.0 implementations are currently underway.

“Given Guidewire's strong traction after just a few years in the claims software market, there is strong interest in their new offering for the PAS market,” said Chad Hersh, senior insurance analyst, Celent, a research and consulting firm. “PolicyCenter is one of a handful of built-from-scratch, modern policy administration systems available to carriers to replace legacy systems or to add additional products or lines of business that their old systems don't support. With a modern system, both personal and commercial lines available, and a large (and happy) claims client base to draw upon, the buzz is not surprising.”