Specialty Underwriters' Alliance, Inc. (Nasdaq: SUAI) and its wholly owned specialty property and casualty insurance company subsidiary SUA Insurance Company (collectively "SUA"), and Guidewire Software®, a leading provider of solutions to property and casualty insurers, today announced that SUA has selected and begun implementation of Guidewire's industry leading ClaimCenter system. Guidewire ClaimCenter will support the end-to-end claims process for all of SUA's lines of business, including workers' compensation, general liability, and commercial automobile.
ClaimCenter will replace the company's existing legacy claims systems in a phased deployment over the next 8 to 13 months and will ultimately process approximately 10,000 claims annually. ClaimCenter will be used by SUA's 20 person claims organization and by the adjusting staffs of its Third Party Administrator (TPA) claims adjusting partners.
"SUA has, and wants to maintain, a small internal IT shop," said SUA's chief information officer Barry Cordeiro. "So, it was very important for us to work with a company that could assist with the implementation. Guidewire was the clear choice; they not only fully met the functional and technical requirements we have, but their team has the industry expertise needed to make this project a success." Cordeiro added, "Implementation is underway and we are very pleased with our progress to-date."
With ClaimCenter, SUA's claims department will gain a modern technology foundation enabling SUA to streamline its claim adjusting processes and deliver enhanced capabilities to its Partner Agents and TPAs - which will result in improved claim services to policyholders. ClaimCenter will enable SUA to:
Streamline and reduce IT maintenance efforts through implementation of a single claims system, for all lines of business;
Reduce the company's IT footprint and overall total cost of ownership by moving to a Web-based system for internal staff and SUA partners;
Shorten training times and increase productivity through system driven claims handling workflows; and
Maintain claims adjusting excellence and operational efficiencies amidst rapid corporate growth.
"We are excited about being able to process all claim functions - from FNOL through settlement - for all lines of business, with Guidewire ClaimCenter," said Gary Ferguson, senior vice president, claims, SUA. "Guidewire demonstrated a solid understanding of our industry and SUA's unique processing requirements. And, ClaimCenter is providing us with the technology foundation we need to flexibly respond to our business."
Guidewire ClaimCenter is a leading end-to-end claims system for property and casualty 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.
"SUA is a forward thinking organization that clearly recognizes the potential benefits that moving to a modern claims system offers their organization, their partners, and ultimately, their policyholders," said Jeff Simpson, chairman and chief executive officer, Guidewire Software. "We appreciate their selection of, and faith in, Guidewire and our ClaimCenter solution and look forward to working with them to achieve their objectives."
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 400 insurers, from new ventures to the largest and most complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.