New version of underwriting and policy administration system provides enhanced ability for P&C insurers to tailor products and improve collaboration with agents and brokers.
Guidewire Software introduced Guidewire PolicyCenter 4.0, a comprehensive all lines underwriting and policy administration system, at the ISOTech 2009 conference in Orlando. According to the San Mateo, Calif.-based vendor, Guidewire PolicyCenter 4.0 is a flexible system-of-record optimized to increase flexibility in bringing to market products tailored to customers' needs; enhance collaboration with agents and brokers while streamlining underwriting; and enable easier and faster integration with an insurer's other systems. Several PolicyCenter 4.0 implementations are currently underway, Guidewire reports.
"Our mission is to deliver to the industry the best policy administration and underwriting system in the world," said Marcus Ryu, VP, Products and Strategy, Guidewire Software, in a press release. "PolicyCenter 4.0 continues to build on our leadership on multiple dimensions — functionality, flexibility, and scalability."
Guidewire PolicyCenter is designed to support both commercial and personal lines. It is available as a stand-alone system or as part of the Guidewire Insurance Suite, and can be integrated to an insurer's legacy systems or third-party applications, according to the vendor.
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio