Hawaii based Island Insurance, a locally owned property and casualty insurance provider, has added Guidewire PolicyCenter as its new underwriting and policy administration system, to improve its operational efficiencies and enhance business with its agents and customers.
At the primary stage, Guidewire’s PolicyCenter will be deployed at Island Insurance’s commercial auto line of business and will eventually be implemented for all of the company’s personal and commercial lines in a phased implementation approach.
The deployment of the new technology supports the company’s move to automate many of the manual tasks the previous system required and frees up its staff and agents to provide quicker, better customer service, says Guidewire.
Island Insurance senior vice president, chief information officer, and chief security officer Jeff Fabry said, "We selected Guidewire as a partner to help us transform our underwriting and policy administration operations because of its significant industry footprint, implementation methodologies, and the best practices it will bring to Island Insurance that we can leverage across our entire business."
The system will provide underwriting guidelines and business rules; accurate information for a faster assessment of applicant risk, reduce system maintenance costs and reduce new employee training times through its intuitive interface.
Available as a standalone system or as part of Guidewire InsuranceSuite, PolicyCenter supports both commercial and personal lines and helps insurers streamline front and back office processes, from new business submission and quoting through policy renewals.
Headquartered in Foster City, California, Guidewire Software is a provider of core system software to the global general (Property/Casualty) insurance industry.