Guidewire Software, Inc. (NYSE:GWRE), a provider of software products to Property/Casualty insurers, today announced that Tokio Marine & Nichido Fire Insurance Company Limited (TMNF), a major Japanese general insurance company, (President: Tsuyoshi Nagano, headquartered in Chiyoda-ku, Tokyo) has selected and deployed Guidewire ClaimCenter® (ClaimCenter) as its new claims management system.
ClaimCenter helps TMNF achieve improved quality of claims management services and business process transformation
As part of TMNF’s promotion of their “Business Renovation Project” initiative, the company has embarked on a program of business process transformation and improvement of their claims management services quality. To do that, TMNF evaluated a number of packaged products, as well as in-house development. As a result of this evaluation, TMNF decided early in 2009 to implement ClaimCenter. This was prompted by ClaimCenter’s ability to reduce development time and costs, through its rich and proven track record overseas, its rich functionality set, as well as ClaimCenter‘s highly flexible system architecture that allows the customer to develop its own configurations to meet unique business requirements.
System development time and costs reduced by leveraging Guidewire’s high flexibility and rich functionalityThe first phase of the ClaimCenter implementation project covered the development of a claims management system for Automobile Insurance and Compulsory Automobile Liability Insurance (CALI). This was TMNF’s first experience with a large scale project employing the Agile development methodology. Both the Business Processes and Systems departments were brought together in a systems center located in Tokyo, improving communication so that Agile could be used effectively, and as a result, the project executed as scheduled within the planned budget. This project involved over 100 staff, including TMNF’s System Development Department resources and Guidewire’s technical advisory team. Thanks to the standard processes built into ClaimCenter, its highly flexible system architecture, and the fact that Guidewire was able to incorporate functionality specific to the Japanese General Insurance business that was not yet included in the product at that time, TMNF was able to shorten the expected development time and costs by about 30 percent compared with the cost of building from scratch.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV