First Australian Insurer to Adopt Guidewire�s Leading End-to-End Claims System Anticipates Significant Savings in Claims Handling Costs Due to Process Efficiencies
BRISBANE, QLD, AUSTRALIA and SAN MATEO, CA, USA, September 6, 2006 �Suncorp, the fourth largest general insurance company in Australia, and Guidewire Software®, a leading provider of solutions to general insurance and workers� compensation insurers, today announced that Suncorp has selected Guidewire ClaimCenter� as its new claims system. When fully deployed, ClaimCenter will support all phases of the claims process for Suncorp�s personal and commercial lines of business. Implementation work has begun with the home products line of business which will deploy in 2007.
As a growing company in a very competitive market, Suncorp found itself with multiple claims systems following several mergers. These legacy systems were not compatible with Suncorp�s plans to streamline and improve its processes, enhance the products and services it offers policyholders and agents, and lower its operating expenses. Suncorp decided to replace these systems with one new web-based system more in-line with the insurer�s technology vision. Preferring not to �build� its own system, Suncorp undertook evaluation of available claims systems. Guidewire ClaimCenter was selected for overall system ease-of-use and configurability, workflow functionality, and fit with Suncorp�s technology direction.
�We are pleased to be the first Australian insurer to select and begin implementing Guidewire ClaimCenter,� said Mark Milliner, Suncorp�s group executive, general insurance – commercial lines. �Guidewire� listened to our needs, and then very quickly demonstrated to us how ClaimCenter – a proven product throughout North America – could effectively and efficiently meet those needs.�
With ClaimCenter, Suncorp will gain a modern technology foundation on which to consolidate and streamline its claim process. ClaimCenter will enable Suncorp to:
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Streamline and reduce IT maintenance efforts by moving to a single technology;
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Reduce training times as a result of ClaimCenter�s ease-of-use;
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Simplify claims processes through intuitive, automated workflows;
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Gain greater visibility and insight into its claims processes and operating costs; and
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Improve estimating and �scope of works� capabilities.
�ClaimCenter will be our single source of truth,� said Kathy Park, Suncorp�s manager claims business model project. �We anticipate significant savings in claims handling costs through process efficiencies with ClaimCenter.�
Guidewire ClaimCenter is a leading end-to-end claims system for general insurance and workers� compensation insurance. ClaimCenter�s flexible business rules enable claims organizations to optimize and monitor the claim process. Claims executives can define, enforce, and continually refine their preferred claim handling practices. In addition, a modern technology architecture, providing 100% web client, and web services interface enable lower total cost of ownership in any environment.
�We are thrilled to welcome Suncorp as our first customer in Australia,� said Jeff Simpson, chairman and chief executive officer, Guidewire Software. �We applaud Suncorp�s vision and are pleased by their vote of confidence in our company and our technology. We look forward to a long, mutually beneficial partnership.�
About Guidewire Software
Guidewire Software is a leading provider of technology solutions to general insurance and workers� compensation insurers. Guidewire delivers proven software to run core insurance operations, including billing, underwriting, policy, and claim management. The Guidewire Insurance Suite™ consists of Guidewire ClaimCenter, Guidewire PolicyCenter®, and Guidewire BillingCenter™, which provide a modern, web-based platform for all lines of business. Guidewire is headquartered in San Mateo, California, USA, with offices in Toronto, London, and Sydney. For more information, please visit www.guidewire.com
