Everest National Insurance Company Deploys Guidewire for Claims Management

Guidewire ClaimCenter® provides commercial lines insurer with claims self reliance, more and better data and performance visibility

LIBERTY CORNER, New Jersey and SAN MATEO, California, December 16, 2010 — Everest National Insurance Company (“Everest National”) and Guidewire Software®, a leading provider of flexible core systems to property/casualty insurers, today announced that Everest National has deployed Guidewire ClaimCenter as its new claims management solution for its commercial lines’ claims. HCL Technologies teamed with Everest National and Guidewire Professional Services to successfully deliver this project. 13,000 claims were converted during the course of the project.

Everest National’s business model changes quickly. The company needed a highly functional, state-of-the-art claims system to help it prepare for the places and type of business it wanted to do. ClaimCenter was selected for its robust functionality and its configuration ease — enabling rapid system changes by Everest National staff. Already the Everest National team has deployed four additional post-production releases since initially going live with ClaimCenter — bringing additional functionality enhancements to its business users.

“The successful implementation of ClaimCenter is a major milestone in our core IT Strategic Plan,” said Barry Smith, Executive Vice President and Chief Administrative Officer, Everest Re Group. “ClaimCenter is giving us much improved visibility into our claims data and is providing the enhanced efficiencies we need to best run our business.”

“ClaimCenter is already enabling us to be much more responsive to changes. Our business users are very happy,” said Indira Morrow, Vice President, Everest National. “This project was a team effort with every person contributing a key piece to its success. Guidewire, HCL, and our own staff really came together to make this project a success.”

ClaimCenter is enabling Everest National to:

  • Be more responsive to its business users by quickly making system changes in-house;
  • Capture more and better data; and
  • Provide better operational reports and on-line management tools.

“We congratulate the Everest National team on its accomplishment,” said Marcus Ryu, chief executive officer, Guidewire Software. “This team overcame significant challenges in the course of its project and is to be commended for keeping its ‘eye on the prize’ and successfully completing its ClaimCenter implementation — on time and under budget.”

Guidewire ClaimCenter is a leading end-to-end claims management system, built from the ground up to meet the specific needs of today’s property/casualty insurers. ClaimCenter’s flexible business rules enable claims organizations to define, enforce, and continually refine their preferred claim handling practices in order to optimize and monitor their claim processes. ClaimCenter is in use by property/casualty insurers of all sizes across all product lines to improve speed and accuracy, reduce loss adjustment expense, and enable proactive management of claims. ClaimCenter is available as a standalone system or as part of the Guidewire Insurance Suite™, and can be integrated to an insurer’s legacy systems or third party applications.

About Everest National Insurance Company

Everest National and its affiliated companies offer property, casualty, and specialty lines insurance products to customers on both an admitted and non-admitted basis. Claims and Loss Control services to support this business are provided by a knowledgeable and seasoned network of professionals. Everest National’s expertise and entrepreneurial approach allows it to be one of the leaders in the industry.

Backed by solid financials, business is written through a network of appointed retail agents and brokers, wholesalers and Program Administrators. Everest National is a subsidiary of Everest Re Group, Ltd. For more information, please visit www.everestnational.com.

About Everest Re Group, Ltd.

Everest Re Group, Ltd. is a Bermuda holding company that operates through the following subsidiaries: Everest Reinsurance Company provides reinsurance to property and casualty insurers in both the U.S. and international markets. Everest Reinsurance (Bermuda) Ltd., including through its branch in the United Kingdom, provides reinsurance and insurance to worldwide property and casualty markets and reinsurance to life insurers. Everest National Insurance Company and Everest Security Insurance Company provide property and casualty insurance to policyholders in the U.S. Everest Indemnity Insurance Company offers excess and surplus lines insurance in the U.S. Additional information on Everest Re Group companies can be found at the Group’s web site at www.everestre.com.

About Guidewire Software

Guidewire Software is a leading provider of flexible core systems that enable property/casualty insurers to deliver insurance the way they want to. Guidewire builds high quality software that consistently works as promised. Designed for maximum flexibility and scalability, Guidewire solutions give carriers the capability to deliver excellent service to policyholders and agents and increase market share — while lowering operating costs. The Guidewire Insurance Suite™, consisting of Guidewire PolicyCenter®, Guidewire BillingCenter®, and Guidewire ClaimCenter®, spans the entire insurance lifecycle — underwriting, policy administration, billing, and claims management. Guidewire is headquartered in San Mateo, California, with offices in Hong Kong, London, Munich, Paris, Sydney, Tokyo, and Toronto. For more information, visit www.guidewire.com.