Guidewire Software recently announced that AIG Japan has selected its Guidewire PolicyCenter and Guidewire BillingCenter to improve its processes. The two solutions, PolicyCenter and BillingCenter, have been designed to enable faster time to market for new products, while supporting the introduction of new distribution channels and billing options. Furthermore, insurers all benefit from substantial reduction in IT maintenance costs. The new solutions will be introduced at one of AIG's subsidiary insurers in Japan, the American Home Assurance Company.
In a release, Michael Gay, CIO of American Home Japan and responsible for the policy administration system renewal project at AIG Japan said, “We selected Guidewire PolicyCenter and BillingCenter for several reasons. The highly integrated Guidewire platform and its ease of upgradability were very attractive to us. In addition, Guidewire’s technology is already localized to meet Japan’s market needs and delivered in Japan which is significant. Another key contributing factor in our selection of Guidewire was the quality of the Guidewire team.”
Some of the advantages provided by the PolicyCenter and BillingCenter solutions include the ability to bring new products to market much faster, single view access of customers across systems which helps in improving serve to customers while allowing faster identification of cross-sell and up-sell opportunities, greater precise control, improved consistency, responsiveness over both pricing and rating, greater options for flexible payment plans for customers and optimized built-in best practices for improving business processes and services.
Michael Gay said, “We are looking forward to the automation of manual tasks and the flexibility that Guidewire technology will bring. This will enable us to quickly respond to our customer feedback and provide them with the products and types of coverages they want.”
Designed as a flexible underwriting and policy administration solution, Guidewire PolicyCenter allows property/casualty insurers to boost business profits via improved efficiencies and faster time to market products, while benefiting from improved customer and agent relationships. The solution can support both commercial and consumer lines, and helps in optimizing front and back office processes.
BillingCenter, which can be implemented as a standalone solution or as part of Guidewire InsuranceSuite, helps in the automation of the entire billing lifecycle. Insurers benefit from the ability to plan flexible billing, delinquency, and payment options for customers, easy management of agent commissions and faster integration with external payments solutions.
Edited by Cassandra Tucker