|By Business Wire||
|December 18, 2013 07:05 PM EST||
Guidewire Software, Inc. (NYSE:GWRE), a provider of software products to Property/Casualty insurers, today announced that Tokio Marine & Nichido Fire Insurance Company Limited (TMNF), a major Japanese general insurance company, (President: Tsuyoshi Nagano, headquartered in Chiyoda-ku, Tokyo) has selected and deployed Guidewire ClaimCenter® (ClaimCenter) as its new claims management system.
ClaimCenter helps TMNF achieve improved quality of claims management services and business process transformation
As part of TMNF’s promotion of their “Business Renovation Project” initiative, the company has embarked on a program of business process transformation and improvement of their claims management services quality. To do that, TMNF evaluated a number of packaged products, as well as in-house development. As a result of this evaluation, TMNF decided early in 2009 to implement ClaimCenter. This was prompted by ClaimCenter’s ability to reduce development time and costs, through its rich and proven track record overseas, its rich functionality set, as well as ClaimCenter‘s highly flexible system architecture that allows the customer to develop its own configurations to meet unique business requirements.
System development time and costs reduced by leveraging Guidewire’s high flexibility and rich functionality
The first phase of the ClaimCenter implementation project covered the development of a claims management system for Automobile Insurance and Compulsory Automobile Liability Insurance (CALI). This was TMNF’s first experience with a large scale project employing the Agile development methodology. Both the Business Processes and Systems departments were brought together in a systems center located in Tokyo, improving communication so that Agile could be used effectively, and as a result, the project executed as scheduled within the planned budget. This project involved over 100 staff, including TMNF’s System Development Department resources and Guidewire’s technical advisory team.
Thanks to the standard processes built into ClaimCenter, its highly flexible system architecture, and the fact that Guidewire was able to incorporate functionality specific to the Japanese General Insurance business that was not yet included in the product at that time, TMNF was able to shorten the expected development time and costs by about 30 percent compared with the cost of building from scratch.
ClaimCenter to be deployed for all TMNF products
Following the full roll-out of their ClaimCenter-based claims management system for Automobile Insurance and CALI in April 2013, TMNF expanded the use of ClaimCenter to Fire, Earthquake and Personal Injury Insurance in October 2013, and has plans to deploy the system to cover all of its insurance products in the future.
“We are very happy that TMNF, one of Japan’s largest General Insurance companies, has selected Guidewire ClaimCenter for its new claims management system, and we congratulate the team on the successful first phase of its ClaimCenter project,” said Ian Tavener, vice president, Asia Pacific, Guidewire Software. “A project of this magnitude in Japan presented us with a considerable challenge, but we were able to bring it to fruition by maintaining close collaboration with TMNF. We are honored that Guidewire’s solution contributes to further enhancing the quality of TMNF’s insurance services. And, moving forward, we hope to be able to continue to support the delivery of advanced insurance services.”
About Guidewire ClaimCenter
Guidewire ClaimCenter® is a leading end-to-end claims management system, built from the ground up to meet the specific needs of today’s Property/Casualty insurers. ClaimCenter’s flexible business rules enable claims organizations to define, enforce, and continually refine their preferred claim handling practices in order to optimize and monitor their claim processes. ClaimCenter is in use by insurers of all sizes across all product lines to improve speed and accuracy, reduce loss adjustment expense, and enable proactive management of claims. ClaimCenter 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.
About Tokio Marine & Nichido Fire Insurance Co., Ltd.
For detailed information about the company, please visit:
About Guidewire Software
Guidewire builds software products that help Property/Casualty insurers replace their legacy core systems and transform their business. Designed to be flexible and scalable, Guidewire products enable insurers to deliver excellent service, increase market share and lower operating costs. Guidewire InsuranceSuite™ provides the core systems used by insurers as operational systems of record. Additional products provide support for data management, business intelligence, anytime/anywhere access and guidance and monitoring. More than 150 Property/Casualty insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.
NOTE: Guidewire Software, Inc. All rights reserved. Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite, Guidewire Live, Before & After, Guidewire PartnerConnect, Deliver Insurance Your Way, and the Guidewire logo are trademarks, service marks, or registered trademarks of Guidewire Software, Inc. in the United States and/or other countries.