Universal Group, a commercial and personal lines carrier with operations in Puerto Rico and the US, has selected Guidewire Software's InsuranceSuite to support transforming its core operations including underwriting, policy administration, rating, billing, and claims management.
Guidewire said that Universal will begin Phase I of its transformation project by deploying all three Guidewire core systems simultaneously for its commercial and personal auto lines of business.
The insurer will use the InsuranceSuite to enable its strategy of expanding the product footprint and regional areas served and accelerate time to market with improved rating, underwriting, and new business capabilities; to improve efficiency of core operations including first notice of loss (FNOL), claims handling, policy administration, and billing; and lower IT costs.
Guidewire said that its InsuranceSuite was designed using a modular approach, enabling carriers to select individual applications — Guidewire PolicyCenter, Guidewire BillingCenter, and Guidewire ClaimCenter– or a pre-integrated set, driven by their requirements and priorities.