Press Release

LV= Selects Guidewire for Claims Management

LV= to standardize claims handling processes across its business with Guidewire ClaimCenter®

SAN MATEO, Calif., March 15, 2010

LV=, the UK’s largest friendly society and leading general insurer today announced the selection of Guidewire Software®, a leading provider of flexible core systems to property/casualty (general) insurers, as the provider of its new claims handling platform for its home and motor insurance lines of business.

Guidewire ClaimCenter® is a market-leading end-to-end claims system that manages the entire claim lifecycle from first notification of loss through settlement, litigation, and recovery. Guidewire ClaimCenter will enable LV= to improve the speed and accuracy of claims settlement and enable proactive management of claims including better fraud detection and reduction in claims leakage. Additional lines of business will be processed through Guidewire ClaimCenter in subsequent project phases.

Peter Horton, LV= operations director, commented: “Guidewire ClaimCenter provides our handlers with a state-of-the-art claims system that will enable them to efficiently and consistently process claims in accordance with our best practice standards and reduce administration, freeing them to focus their expertise on enhancing the service to our customers. ClaimCenter’s modern technology platform, ease of configuration and comprehensive functionality are well suited to our needs.”

Tracey Robinson, Guidewire Software regional sales director, said: “ClaimCenter has been developed to enable insurers to operate an effective claims process that creates first class customer service while delivering improved processing and operating efficiencies for insurers. This combination complements LV= approach and we look forward to our work together in helping them take their claims business to the next level.” 

Guidewire ClaimCenter is a leading end-to-end claims system for property/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, ClaimCenter uses modern technology architecture, including a 100% Web client and Web services interface, which enables lower total cost of ownership in any environment.

About Guidewire Software

Guidewire delivers the industry platform that Property and Casualty (P&C) insurers rely upon to adapt and succeed in a time of accelerating change. We provide the software, services, and partner ecosystem to enable our customers to run, differentiate, and grow their business. We are privileged to serve more than 380 companies in 34 countries. For more information, please visit www.guidewire.com. Follow us on Twitter: @Guidewire_PandC.