Insurance Corporation of British Columbia (ICBC) has selected Guidewire PolicyCenter as its new underwriting and policy administration solution.
Guidewire PartnerConnect alliance member, EY (Ernst & Young), has been selected to lead the implementation project.
After successfully beginning the deployment of Guidewire ClaimCenter® as its new end-to-end claims management system this past November, ICBC will now be working toward implementing PolicyCenter in an effort to modernize its policy administration system infrastructure and business processes.
The organization is seeking to take advantage of new technologies to better serve its customers and brokers, update and improve its products and pricing, and introduce new industry standard offerings.
"With PolicyCenter, we are adopting foundational technology that is flexible and future-oriented," said Kellee Irwin, ICBC’s vice president of insurance and driver licensing (acting). "A lot of what we do today, in terms of our sales process, is manual, time consuming, and inflexible. We look forward to PolicyCenter helping us enhance our customer focus and maintain the company’s financial stability."
PolicyCenter will enable ICBC to:
More quickly and cost-effectively roll-out improvements to ICBC’s products and pricing;
Modernize the sales process and make it easier for both brokers and customers to do business with ICBC;
Introduce new industry standard offerings and take advantage of new technologies to better serve customers; and
Enhance operational efficiencies by automating manual tasks.
"We are pleased that ICBC has selected PolicyCenter," said Steve Sherry, group vice president, Americas Sales, Guidewire Software. "We recognize ICBC’s commitment to providing high levels of service to their customers and look forward to helping them reach their 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.