Republic Group, a Texas Property/Casualty (P/C) insurer, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to P/C insurers, today announced that Republic Group has selected Guidewire InsuranceSuite™ as its new platform for the management of underwriting, policy administration, claims, billing, rating and client data. The company has also selected Guidewire DataHub and InfoCenter as its data management and business intelligence solutions respectively. Guidewire PartnerConnect™ Consulting member, PwC US, is leading the implementation.
Republic Group selected InsuranceSuite, DataHub, and InfoCenter as part of an organization-wide transformation initiative to support the company’s long term vision. The company wants to modernize and improve efficiency of its infrastructure, better manage and improve the quality of its business data, and consolidate multiple policy administration and data storage systems onto a single platform.
Republic Group will be deploying these products in three phases. The company will implement Guidewire ClaimCenter®, DataHub, and InfoCenter first, followed by PolicyCenter and BillingCenter for its commercial lines of business. Implementing BillingCenter and PolicyCenter for personal lines will be the third project phase.
“From the beginning, we were looking for a single platform with the same technology for all the products since we were replacing all our legacy systems. Implementation of the Guidewire suite of products will have a significant positive impact due to increased functionality, improved overall customer experience (internal and external) and enhanced efficiencies,” said Joe Mattingly, President and CEO, Republic Group. “Guidewire is the right long-term partner for our business transformation needs.”
InsuranceSuite, DataHub, and InfoCenter will enable Republic Group to:
Increase speed-to-market of new product development and offerings;
More readily manage and enable access to key core system data;
Enhance the experience of its employees, agents and policyholders; and
Reduce technology risks and associated costs.
“We are pleased that Republic Group has chosen Guidewire to help them transform their business,” said Steve Sherry, group vice president, Americas Sales. “We look forward to working with Republic Group on these projects, helping them to achieve their business objectives, and deliver high levels of customer service.”
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.
Guidewire DataHub™ is an operational data store that unifies, standardizes, and stores data from the typical patchwork of an insurer’s systems as well as from external sources. This provides the single source of truth to feed core systems, business intelligence solutions, and downstream systems such as general ledger, regulatory, and tax reporting. DataHub decouples data consumption from data production, thus insulating downstream data consumers from changes in the behavior and configuration of upstream data producers. With DataHub, insurers can more easily retire legacy systems, ensure business continuity during core system transformation, and add new applications in the future.
Guidewire InfoCenter™ is a business intelligence warehouse optimized for the Property/Casualty industry to provide information in easy to use formats for business intelligence, analysis, and enhanced decision making. Pre-integration with Guidewire products significantly reduces implementation time, risk and maintenance overhead, allowing customers to focus on configuration for their unique needs. It is compatible with a variety of industry-standard business intelligence tools.
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.