Guidewire Software today announced the availability of Guidewire ClaimCenter 6.0—the latest version of its claims system for property/casualty insurers. ClaimCenter is an end-to-end claims system that manages the entire claim lifecycle from first notice of loss through settlement, litigation and recovery.
Claims Performance Monitoring—the highlight of ClaimCenter's latest version—is a visual display of claim health metrics designed to meet the needs of an information-driven claims organization. Providing single-click access from anywhere within ClaimCenter, Claims Performance Monitoring delivers real-time, actionable information to claims personnel at all levels in a consistent and easy-to-use manner. Claims Performance Monitoring automatically tracks key metrics within each individual claim, eliminating the multi-step reporting process insurers currently take to learn how their claims operations are performing. By using a combination of insurer specific claim health metrics, high risk indicators and claims summary screens, adjusters and managers are able to ascertain claim health and make rapid diagnoses to determine if the claim is being processed efficiently, or whether additional consideration is needed, the company says.
ClaimCenter 6.0 also includes the following enhancements:
• Streamlines and enhances claims management processes such as deductible handling and support for key lines of business, including homeowners, workers’ compensation and travel
• Gains greater visibility into catastrophe exposures to ensure that claims are handled promptly, consistently, and in adherence with catastrophe management and reinsurance procedures
• Readily identifies and tracks reinsurance recovery opportunities for large losses
• Provides localization packs for key geographic regions to ease configuration for language, calendar, documents and currency
• Empowers business owners by providing them with the ability to configure ClaimCenter parameters and thresholds on their own, thereby reducing reliance on IT
“We are proud that ClaimCenter is the most proven modern successor to legacy claims systems for insurance carriers today,” said Marcus Ryu, VP, strategy and products, Guidewire Software. “Both functionally and architecturally, it has evolved continuously through eight years of intense engineering effort, incorporating considerable input from our clients. The advances in ClaimCenter 6.0 make it more possible than ever for property/casualty insurers to migrate from their inflexible legacy systems and finally deliver insurance the way they want.”
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