Guidewire Software, Inc. (GWRE), a provider of Property/Casualty (P/C) insurance software products, announced that AIG Japan is in the process of implementing Guidewire PolicyCenter as its new underwriting and policy administration solution and Guidewire BillingCenter to manage its billing operations. PolicyCenter and BillingCenter will be deployed together starting with a homeowner product at American Home Assurance Company, Japan Branch (American Home Japan), one of AIG’s subsidiary insurers in Japan.
PolicyCenter and BillingCenter help insurers get products to market faster, introduce new distribution channels and billing methods in a timely fashion, provide a single view of customers across the systems, and reduce the cost of IT maintenance. PolicyCenter and BillingCenter enable insurers to improve processes, with rich out-of-the-box product features and business rules, which insurers can benefit greatly from.
"We selected Guidewire PolicyCenter and BillingCenter for several reasons," said Michael Gay, CIO of American Home Japan, and responsible for the policy administration system renewal project at AIG Japan. "The highly integrated Guidewire platform and its ease of upgradability were very attractive to us. In addition, Guidewire’s technology is already localized to meet Japan’s market needs and delivered in Japan which is significant."
"Another key contributing factor in our selection of Guidewire was the quality of the Guidewire team," continued Michael Gay.
Benefits of PolicyCenter and BillingCenter include:
Increased ability to bring new products to market;
Access to single view of customers across systems to better serve its customers and identify and act upon cross-sell and up-sell opportunities;
More precise control, consistency, and responsiveness over rating and pricing through all phases of the product lifecycle;
Flexible payment options for customers; and
Built-in best practices in business processes and services.
"We are looking forward to the automation of manual tasks and the flexibility that Guidewire technology will bring," said Michael Gay. "This will enable us to quickly respond to our customer feedback and provide them with the products and types of coverages they want."
"We are honored that American Home Japan, an AIG subsidiary insurer, has selected PolicyCenter and BillingCenter as well as Guidewire Rating Management™ and welcome them to the Guidewire family," said Ian Tavener, vice president, Asia Pacific, Guidewire Software. "We are excited to expand our footprint in the Japanese market and look forward to working with AIG Japan on the project."
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 consumer 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.
Guidewire BillingCenter is a comprehensive billing and receivables management system built on the core design principles of automation, control and flexibility. BillingCenter allows you to deliver insurance your way by making it easier to automate the billing lifecycle; design flexible billing, payment and delinquency plans; manage agent commissions; and enable rapid integration with external payment systems. BillingCenter is available as a standalone system or as part of Guidewire InsuranceSuite™, and can be integrated to a general (property and casualty) insurer’s legacy systems or third-party application.