Guidewire Software (GWRE), a provider of software products to non-life insurers, has announced that Sompo Japan Nipponkoa Insurance, the largest single non-life insurance company in Japan, will be implementing Guidewire PolicyCenter and Guidewire Rating Management on new insurance underwriting operations covering 180 corporation-oriented insurance items and contract management systems for its commercial lines of business.
Realization of direct calculations at agencies, and the maintenance of data, including contract details, are significant challenges in the insurance industry especially for insurers offering commercial insurance.
Increasingly core processing systems are considered from the viewpoint of their customer-oriented service qualities, restraint of clerical cost, income and expenditure administration and risk management capabilities.
Sompo Japan Nipponkoa has selected PolicyCenter to help it address the ongoing industry challenges it faces. The company also selected the system for the depth and breadth of its functionality which will help streamline in-house operations and transactions with agents. Sompo Japan Nipponkoa was impressed with Guidewire’s global expertise gained through its work with insurers in over 20 countries around the world.
Mr. Osamu Fujino, general manager, Business Process Planning Department, Sompo Japan Nipponkoa, said "Because the business flow between agents, business offices, and back-office operations will become more automated, seamless sharing of information with sales agencies will become possible."
Ian Tavener, group vice president, Guidewire Software, presiding over the Asia-Pacific region, made the following comment: "Guidewire is honored to be selected as the core policy system provider to the commercial lines business of Sompo Japan Nipponkoa, a highly respected insurer.
"We look forward to going on this journey with them and providing the technology that will help them adapt their business to ensure success in the rapidly-changing non-life insurance industry."