Universal Group, a San Juan, Puerto Rico-based commercial and personal lines carrier, has selected Guidewire (San Mateo, Calif.) InsuranceSuite to support transformation of its core operations, including underwriting, policy administration, rating, billing and claims management. Universal will begin the first phase of its transformation initiative by deploying Guidewire's three core systems simultaneously for its personal and commercial auto lines of business, according to a Guidewire statement. Universal has chosen PwC US (New York) as its implementation partner.
"Guidewire InsuranceSuite will enable us to grow our business quickly and efficiently," comments Monique Miranda, president and CEO, Universal Insurance Company. "We will also be able to apply industry leading practices to our processes, refining them where needed to ensure that we continue to provide the fast and reliable service our agents and insurers expect from us."
Implementation of the Guidewire suite will support Universal's transformation goals of enabling a strategy of expanding product footprint and regional areas served; accelerating time-to-market with improved rating, underwriting, and new business capabilities; improving efficiency of core operations including FNOL, claims handling, policy administration, and billing; and significantly lowering IT costs by reducing its applications portfolio, according to Guidewire.
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio