RACQ Insurance (“RACQI”), a leading provider of motor vehicle and household insurance to over 1.7 million policyholders throughout Queensland and northern New South Wales, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to general (Property/Casualty) insurers, today announced that RACQI has successfully deployed Guidewire PolicyCenter® as its new underwriting and policy administration solution and Guidewire BillingCenter® as its new billing system. Guidewire PartnerConnect alliance member, Ernst & Young LLP, worked together with RACQI on the implementation.
RACQI simultaneously deployed PolicyCenter and BillingCenter for all of its lines of business, in all territories, in a “big bang” implementation approach. Currently there are 1,300 PolicyCenter users, 500 of which are also using BillingCenter. As part of this initiative, the company also implemented Guidewire ClaimCenter® for its Motor Liability line, expanding on the capabilities previously implemented for its Motor and Home lines of business.
After the dissolution of their joint venture with an insurer that had provided both core system support and IT services, RACQI was prompted to search for new core systems that were rules-based and process-driven and would help them improve customer and staff experience.
“There is no doubt that the relationship at the point of contact with a member (customer) is increasingly important when compared to the actual transactional value,” said Bradley Heath, chief executive officer, RACQI. “The transaction activity needs to be efficient and effective, but it has become increasingly crucial to bring other value to the member whether it includes offering services on the web or providing quick service on a call, for example. Being able to provide this high level of service to our members is absolutely critical to our future, and Guidewire technology will help us to do that.”
PolicyCenter and BillingCenter are enabling RACQI to:
Gain a holistic, single source of truth view of customer data across its billing and policy administration systems to enhance service levels;
More quickly roll out products and product changes to increase responsiveness to the market;
Provide its staff with an intuitive and integrated technology platform to allow them to do their job quickly and efficiently; and
Enhance operational efficiency through the automation of former manual tasks.
“The satisfaction level with PolicyCenter and BillingCenter among our people has been very high from day one,” said Greg Booker, chief information officer, RACQI. “Staff have been especially happy with the quality of the systems which enables them to increase their service and sales levels. We also appreciate the reduction in training time we are experiencing due to the familiarity with Guidewire technology.”
"We congratulate RACQI on their successful implementation of Guidewire PolicyCenter and BillingCenter, and we are pleased that they are now an in-production Guidewire InsuranceSuite™ customer,” said Ian Tavener, vice president, Asia Pacific Operations, Guidewire Software. “This was a large and vital project for RACQI, performed under extraordinary pressure, and it is a great credit to their team that the project was successful. We are proud to have played a part in it.”
Guidewire PolicyCenter is a flexible underwriting and policy administration system that enables general (Property/Casualty) insurers to grow business profitably by improving efficiency, while responding with agility to market opportunities and enhancing relationships with agents and customers. Designed to support both commercial and personal lines, PolicyCenter helps insurers streamline front and back office processes, from new business submission and quoting through policy renewals. PolicyCenter is available as a standalone system or as part of Guidewire InsuranceSuite™, and can be integrated to an insurer’s legacy systems or third party applications.
Guidewire BillingCenter is a comprehensive billing and receivables management system built on the core design principles of automation, control and flexibility. BillingCenter allows you to deliver insurance your way by making it easier to automate the billing lifecycle; design flexible billing, payment and delinquency plans; manage agent commissions; and enable rapid integration with external payment systems. BillingCenter is available as a standalone system or as part of Guidewire InsuranceSuite, and can be integrated to a general (Property/Casualty) insurer’s legacy systems or third party applications.
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.