Suncorp, the fourth largest general insurance company in Australia, and Guidewire SoftwareÂ®, a leading provider of solutions to general insurance and workersâ compensation insurers, today announced that Suncorp has selected Guidewire ClaimCenterÂ® as its new claims system. When fully deployed, ClaimCenter will support all phases of the claims process for Suncorpâs personal and commercial lines of business. Implementation work has begun with the home products line of business which will deploy in 2007.
As a growing company in a very competitive market, Suncorp found itself with multiple claims systems following several mergers. These legacy systems were not compatible with Suncorpâs plans to streamline and improve its processes, enhance the products and services it offers policyholders and agents, and lower its operating expenses. Suncorp decided to replace these systems with one new web-based system more in-line with the insurerâs technology vision. Preferring not to âbuildâ its own system, Suncorp undertook evaluation of available claims systems. Guidewire ClaimCenter was selected for overall system ease-of-use and configurability, workflow functionality, and fit with Suncorpâs technology direction.
âWe are pleased to be the first Australian insurer to select and begin implementing Guidewire ClaimCenter,â said Mark Milliner, Suncorpâs group executive, general insurance - commercial lines. âGuidewireâ¢ listened to our needs, and then very quickly demonstrated to us how ClaimCenter - a proven product throughout North America - could effectively and efficiently meet those needs.â
With ClaimCenter, Suncorp will gain a modern technology foundation on which to consolidate and streamline its claim process. ClaimCenter will enable Suncorp to:
. Streamline and reduce IT maintenance efforts by moving to a single technology;
. Reduce training times as a result of ClaimCenterâs ease-of-use;
. Simplify claims processes through intuitive, automated workflows;
.Gain greater visibility and insight into its claims processes and operating costs; and
. Improve estimating and âscope of worksâ capabilities.
âClaimCenter will be our single source of truth,â said Kathy Park, Suncorpâs manager claims business model project. âWe anticipate significant savings in claims handling costs through process efficiencies with ClaimCenter.â
Guidewire ClaimCenter is a leading end-to-end claims system for general insurance and workersâ compensation insurance. ClaimCenterâs flexible business rules enable claims organizations to optimize and monitor the claim process. Claims executives can define, enforce, and continually refine their preferred claim handling practices. In addition, a modern technology architecture, providing 100% web client, and web services interface enable lower total cost of ownership in any environment.
âWe are thrilled to welcome Suncorp as our first customer in Australia,â said Jeff Simpson, chairman and chief executive officer, Guidewire Software. âWe applaud Suncorpâs vision and are pleased by their vote of confidence in our company and our technology. We look forward to a long, mutually beneficial partnership.â