San Mateo, Calif. — Guidewire Software, a global provider of technology solutions to property and casualty insurers, announced this week that Chevy Chase, Md.-based GEICO (Government Employees Insurance Co.) deployed Guidewire’s Web-based claims solution ClaimCenter.
The software will get a workout. With 8 million auto policyholders and assets of more than $15 billion, GEICO insures more than 13 million vehicles. Owned by Berkshire Hathaway, GEICO claims to be the fourth-largest private passenger auto insurer in the United States—and the fastest growing. GEICO’s national team of claims counselors across the country are already using Guidewire’s Web-based claims solution, which has the unique capability of integrating service/repair scheduling into the loss reporting process to increase claim handling efficiency.
Gartner Inc., a Stamford, Conn., research firm, evaluated this win—along with the company’s market understanding, product strategy, product/service capabilities, overall viability and customer experience—in its rating of “strong positive,” the highest possible rating in Gartner’s recently published “MarketScope for North American Property and Casualty Insurance Claims Administration Systems, 2008.” Guidewire was one of eight vendors evaluated for the 2008 report. A copy of the report can be viewed at www.guidewire.com.
Gartner's MarketScope evaluates property/casualty claims administration systems vendors based on the following criteria: market understanding, product strategy, product/service capabilities, overall viability and customer experience.
ClaimCenter, Guidewire’s flagship product, provides an end-to-end claims system for property/casualty insurers. ClaimCenter’s business rules are designed to enable claims organizations to optimize and monitor the claim process, enabling claims executives to define, enforce and continually refine their preferred claim adjusting practices.
“Guidewire ClaimCenter is in-production at 32 carriers across all sizes, supporting all lines of business in six countries; 27 of these deployments are in North America,” said John Raguin, CEO, Guidewire Software. “In my opinion, Gartner’s rating confirms our leadership position in the market. The Guidewire team is very proud to receive this rating and remains committed to continuing our focus on building the highest quality software while ensuring our customers’ success.”
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