Pacifico Seguros (Pacifico), a leading insurance company in Peru, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty (P/C) insurers, today announced that Pacifico has successfully deployed Guidewire InsuranceSuite™ as its new underwriting, policy administration, billing and claims management platform. Pacifico’s implementation also leverages the Guidewire Rating Management™ and Client Data Management modules.
Pacifico selected and deployed InsuranceSuite as part of an initiative to diversify its business from a predominant focus on commercial lines to now growing its personal lines’ business. The company also wanted to simplify its operational processes and IT architecture, decrease operational costs, and improve its overall new product time to market. Prior to InsuranceSuite, Pacifico’s supporting processes and IT platforms were built exclusively for commercial lines.
Pacifico is currently in production with InsuranceSuite for its personal auto products distributed through its Telemarketing channel. The company will be deploying InsuranceSuite to the rest of its personal lines business, and will then shift to its commercial lines operations.
“We believe that InsuranceSuite’s ‘out of the box’ functionality and application architecture were key to the success of our project,” said Luciano Bedoya, Senior Vice President, Operations, Processes and Information Technology for Pacifico Seguros. “We are already capturing significant benefits from InsuranceSuite, especially in terms of improved productivity and effectiveness for our agents and service representatives, and we are looking forward to the additional opportunities the suite will bring as we extend its deployment across the rest of our lines of business.”
InsuranceSuite is enabling Pacifico to:
Expand their distribution channels beyond the traditional agents and brokers;
Increase speed to market and become easier to do business with; and
Provide its staff with an intuitive and integrated technology platform to allow them to do their job quickly and efficiently.
“We are pleased that Pacifico Seguros, a leader in the Peruvian insurance market, has successfully deployed Guidewire InsuranceSuite, and we congratulate them on their implementation project,” said Alex Naddaff, senior vice president, Programs, Guidewire Software. “We are proud to have played a role in the project and look forward to continuing the business transformation journey with them.”
Guidewire InsuranceSuite powers the mission-critical operations of property/casualty insurers competing in today’s market. The suite was designed using a modular approach, enabling insurers to select individual applications — Guidewire PolicyCenter®, Guidewire BillingCenter® and Guidewire ClaimCenter®— or a pre-integrated set, driven by their requirements and priorities. InsuranceSuite provides the flexibility insurers need to deliver insurance the way they want to, by rapidly delivering better products and service to their policyholders and agents, while improving underwriting discipline and lowering operational costs.
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.