This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Santam Selects Guidewire Solution For Underwriting, Rating, Policy Administration, Reinsurance, And Client Data Management

Santam, South Africa’s leading non-life insurer, and Guidewire Software, Inc. (NYSE: GWRE), a provider of flexible core system software to Property/Casualty (general) insurers, today announced that Santam has selected Guidewire PolicyCenter® as its new underwriting and policy administration solution. Santam has also selected Guidewire Rating Management™ to gain more precise control and responsiveness over rating and pricing, Guidewire Reinsurance Management™ to reduce excessive risk exposure and recoverable leakage while increasing operational efficiencies, and Guidewire Client Data Management™ to effectively manage customer contact data. PolicyCenter will be used initially for Santam’s personal lines business and thereafter for the company’s commercial lines as well.

As part of a broader core system update initiative, Santam was prompted to look for a new underwriting and policy administration system that would enhance its product and service offerings to its customers, both policyholders and brokers. Santam sought a system that would improve its ability to respond to the market more quickly from a product perspective, help it streamline and improve its processes and system infrastructure, and enable it to interact with its customers through a variety of channels.

“We selected Guidewire as our underwriting and policy administration operations transformation partner for a number of reasons,” said John Melville, executive head, Risk Services, Santam. “Because we are the first user of Guidewire in Africa, the diverse geographical footprint of Guidewire’s customers was extremely important to us. It was crucial that Guidewire had been successful in other first in country implementations because there are subtle differences in how things are done in the United States versus here in South Africa.”

Melville continued, “Based on how Guidewire handled our requests throughout the selection process, we were extremely confident that Guidewire would be a true partner to us and would take any concerns or challenges as seriously as we do.”

PolicyCenter will enable Santam to:
  • Achieve underwriting excellence by providing consistency in underwriting guidelines and business rules and implement new and innovative underwriting techniques;
  • Improve its productivity in a number of areas, enabling the company to focus more on value-added activities;
  • Manage its premium rating bases more dynamically; and
  • Increase the ease of doing business for brokers and policyholders.

“We are pleased that South Africa’s leading short-term (property/casualty) insurer, Santam, has selected Guidewire PolicyCenter as well as Guidewire’s Rating, Reinsurance, and Client Data Management add-on modules,” said Jeff Proudfoot, managing director, Guidewire Software, EMEA. “We are excited to expand our presence in Africa, and we are looking forward to working with Santam on the project.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs