The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re, and Guidewire Software, (GWRE) announced that HSB has deployed Guidewire PolicyCenter as its new global underwriting and policy administration system and BillingCenter as its new billing management system.
HSB also has become the first U.S.-based insurer to deploy Guidewire DataHub™ as its data management system, which allows HSB to extract and better utilize Guidewire system information.
HSB is now a fully-deployed Guidewire InsuranceSuite™ customer, enhancing its insurance systems to bring greater flexibility and functionality to its customers and business partners in the United States and United Kingdom. In 2014, HSB deployed Guidewire ClaimCenter® as its new platform for claims management.
"The deployment of Guidewire PolicyCenter, BillingCenter, and DataHub in the span of ten months represents a significant achievement in our company’s long-term business transformation," said Matthew Forman, HSB senior vice president, operations.
"These systems will help HSB simplify our products and processes onto a common set of global platforms. They improve our speed-to-market capabilities and give us the agility and cost advantage to support our business strategy."
With the deployment of Guidewire PolicyCenter and BillingCenter, HSB has enhanced its policy administration and billing management system to be more responsive to insureds, agents and client insurance companies. HSB also has streamlined its process and system infrastructure, easing maintenance and the ability to extend its functions.
In 2016, HSB used the Guidewire systems to implement its cyber insurance products for small and medium-sized businesses in the United States and United Kingdom.
"We congratulate HSB on their successful implementation of Guidewire core and data products," said Mike Polelle, chief delivery officer, Guidewire Software. "We are pleased to expand our relationship with them and provide the technology foundation that will help HSB adapt and succeed in a time of rapid industry change."
Hartford Steam Boiler (HSB), a member of Munich Re’s Risk Solutions family since 2009, is a leading specialty insurer providing equipment breakdown, other specialty coverages, inspection services and engineering-based risk management that set the standard for excellence worldwide.