Core systems replacement at mid-tier insurers continues apace.
New London County Mutual Insurance Company (NLC) has selected Guidewire InsuranceSuite as its new platform for underwriting, policy administration, claims management, billing, and rating. HCL Technologies, a Guidewire PartnerConnect Consulting alliance member, will lead the implementation.
NLC sought to make its product offerings more nimble, enable speed to market, and increase the ease of pricing changes.
“We were impressed with the high-level of functionality that Guidewire InsuranceSuite has out-of-the-box,” said James Parylak, VP and CIO, NLC. “We felt that we could take InsuranceSuite, implement it, and realize its benefits relatively quickly.”
In addition, SSQauto, a Quebec direct insurer to group members as well as to the general public, has successfully implemented Guidewire PolicyCenter as its new underwriting and policy management system. It also implemented Rating Management and Client Data Management.
The insurer successfully deployed PolicyCenter to its automotive line of business in 2013, followed by the homeowners line of business in January 2015.
“Our implementation of PolicyCenter has gone smoothly and user feedback has been positive,” said Eric Savard, VP at SSQ Financial Group. “We attribute our successes to date to a combination of lessons learned from our ClaimCenter and BillingCenter implementations, a very strong and dedicated internal team, and Guidewire technology. This implementation is a significant step in our journey to simplify our products and processes onto a common set of platforms, giving us the speed-to-market, agility, and cost advantage necessary to enable our business strategy.”
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