London, January 20, 2010 – Beazley has completed implementation of Guidewire ClaimCenter® as its new claims handling system. The web-based system will help ensure that superior claims service remains a key differentiator for Beazley as the company continues to grow, both at Lloyd�s and internationally.
Beazley selected ClaimCenter in May 2008 after a thorough evaluation of options, which included building a system in-house. ClaimCenter now supports all phases of the claims handling process for all Beazley lines of business worldwide, which include professional and management liability; political and contingency risks; commercial property; marine and energy; reinsurance; accident and life; and personal lines.
ClaimCenter serves as a single platform across all of Beazley�s claims operations worldwide, helping Beazley�s claims professionals to work closely with external services providers � law firms, adjusters, and other experts � to deliver a faster, better service to clients.
“Claims service is the product that our insureds buy from Beazley,” said David Marock, chief operations officer. “We see the claims experience as a moment of truth for clients in which the value of the Beazley product can be demonstrated. ClaimCenter�s comprehensive functionality will allow us to continue to improve our clients� experience, while gaining operational efficiencies.”
Beazley�s business has grown rapidly in recent years, both within the Lloyd�s market (where the Beazley syndicates were the third largest underwriters of business in 2009) and internationally. Supported by ClaimCenter, Beazley�s claims professionals will be able to maintain the highest service standards as the group expands into new lines of business and geographies.
“ClaimCenter represents a major investment for Beazley,” said Philippe Mazas, chief information officer. “But we expect it to pay for itself quickly. Economic pressures on many of our clients mean that they are becoming increasingly value conscious. They expect impeccable claims service from their insurers and ClaimCenter will help us deliver it.”
Guidewire ClaimCenter is a leading end-to-end claims management system, built from the ground up to meet the specific needs of today�s general insurers. ClaimCenter�s flexible business rules enable claims organisations to define, enforce, and continually refine their preferred claim handling practices in order to optimize and monitor 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.
“We congratulate Beazley on their successful deployment of ClaimCenter,” said John Raguin, chief executive officer, Guidewire Software. “The system offers a robust platform on which to run a modern claims process. It provides insurers with the right tools to manage claims from end to end efficiently and effectively.
“We believe both Beazley and its customers will see measurable benefits from the use of ClaimCenter.”
About Beazley Group
Beazley Group, plc (BEZ.L), based in London, is the parent company of global, specialist insurance businesses with operations in the UK, US, France, Singapore and Hong Kong. Beazley manages two Lloyd�s syndicates (Syndicate 2623 and Syndicate 623) with aggregate underwriting capacity in 2008 of £814m (US$1.6bn). Both syndicates are rated A by A.M. Best. In the US, Beazley�s underwriters focus on writing specialist insurance products in the admitted market, backed by Beazley Insurance Company, Inc., an admitted carrier in all 50 states; and surplus lines risks, backed by the Beazley syndicates at Lloyd�s.
Beazley Insurance Company, Inc. is rated A by A.M. Best. Beazley is a market leader in many of its chosen lines, which include professional indemnity, commercial property, marine, reinsurance, and personal lines. For more information please go to: www.beazley.com.
About Guidewire Software
Guidewire Software is a leading global provider of technology solutions to property and casualty 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, with offices in London, Munich, Paris, Sydney, and Toronto. For more information, please visit www.guidewire.com.