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Capital Insurance Opts for Guidewire’s Policy Solution

Staff Writer | December 16, 2014

Capital Insurance Group and Guidewire Software, Inc., announce that the insurer has selected Guidewire PolicyCenter as its new underwriting and policy administration solution. CIG has also selected Guidewire Rating Management and Guidewire Client Data Management. Guidewire PartnerConnect Consulting partner, PwC US, has been selected to lead the implementation project.

After selecting Guidewire BillingCenter earlier this year as part of a larger ongoing business transformation initiative, CIG decided to expand its Guidewire selection to include PolicyCenter. By consolidating its three existing policy systems, the company hopes to simplify its infrastructure, streamline business processes and gain the flexibility needed to remain competitive in an evolving market. CIG will deploy PolicyCenter across all lines of business in a phased implementation approach, beginning with its BOP and commercial auto lines.

“Our team was very impressed with Guidewire’s track record of effective implementations in the marketplace. We didn’t see that level of success with any other system,” said Walter Bennett, vice president, underwriting, CIG. “With PolicyCenter, we’re deploying a technology that will free our underwriters to focus on what only they can do—have conversations with agents about the nuances of risks. With improvements in overall efficiencies and focused resource deployment, we’ll be able to improve the overall level of service to our agents and insureds through more agile product development and faster turnaround times.”

 

PolicyCenter will enable CIG Insurance to:

  • Enhance business agility by enabling product changes to be made more quickly and easily without the delays of custom IT coding; 
  • Leverage automated underwriting rules and real-time functionality to eliminate manual processes ;
  • Standardize policy administration on a single, consistent platform for agents and policyholders.

 

“From a technical perspective, our legacy policy systems were creating a bottleneck each time we needed to update or enhance our systems,” says Rads Mydam, CIO and vice president, IT, CIG. “It can take up to four months to make changes in the current system. We’re looking forward to increasing our agility as a result of PolicyCenter’s easy configurability and giving business users more freedom to modify products and services as needed.”

 

“We are pleased to extend our relationship with CIG through their PolicyCenter selection,” says Steve Sherry, group vice president, America sales, Guidewire. “We admire CIG’s dedication to providing their policyholders and brokers with excellent products and services, and we look forward to helping them meet their current and future business objectives.”

 


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