Insurance Corporation Of British Columbia Selects Guidewire Solution For Underwriting And Policy Administration

Insurance Corporation of British Columbia (ICBC), a provincial Crown corporation and sole provider of universal compulsory auto insurance in British Columbia, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty insurers, today announced that ICBC has selected Guidewire PolicyCenter® as its new underwriting and policy administration solution. Guidewire PartnerConnect ™ alliance member, EY (Ernst & Young), has been selected to lead the implementation project.

After successfully beginning the deployment of Guidewire ClaimCenter® as its new end-to-end claims management system this past November, ICBC will now be working toward implementing PolicyCenter in an effort to modernize its policy administration system infrastructure and business processes. The organization is seeking to take advantage of new technologies to better serve its customers and brokers, update and improve its products and pricing, and introduce new industry standard offerings.

“With PolicyCenter, we are adopting foundational technology that is flexible and future-oriented,” said Kellee Irwin, ICBC’s vice president of insurance and driver licensing (acting). “A lot of what we do today, in terms of our sales process, is manual, time consuming, and inflexible. We look forward to PolicyCenter helping us enhance our customer focus and maintain the company’s financial stability.”

PolicyCenter will enable ICBC to:
  • More quickly and cost-effectively roll-out improvements to ICBC’s products and pricing;
  • Modernize the sales process and make it easier for both brokers and customers to do business with ICBC;
  • Introduce new industry standard offerings and take advantage of new technologies to better serve customers; and
  • Enhance operational efficiencies by automating manual tasks.

“We are pleased that ICBC has selected PolicyCenter,” said Steve Sherry, group vice president, Americas Sales, Guidewire Software. “We recognize ICBC’s commitment to providing high levels of service to their customers and look forward to helping them reach their goals.”

Guidewire PolicyCenter® is a flexible underwriting and policy administration system that enables property/casualty insurers to grow business profitably by improving efficiency, while responding with agility to market opportunities and enhancing relationships with agents and customers. Designed to support both commercial and personal lines, PolicyCenter helps insurers streamline front and back office processes, from new business submission and quoting through policy renewals. PolicyCenter is available as a standalone system or as part of Guidewire InsuranceSuite™, and can be integrated to an insurer’s legacy systems or third party applications.

About Insurance Corporation of British Columbia (ICBC)

ICBC serves 3.3 million customers in the province of British Columbia, Canada. ICBC licenses and insures drivers and vehicles across the province through its service centres, plus a network of more than 900 independent brokers and government agent offices. Claims customers are served through local offices and an award-winning Dial-a-Claim call centre. ICBC's road safety investments help create safer roads, lead to fewer crashes, and help keep rates as low as possible. To find out more, visit www.icbc.com.

About Guidewire Software

Guidewire builds software products that help Property/Casualty insurers replace their legacy core systems and transform their business. Designed to be flexible and scalable, Guidewire products enable insurers to deliver excellent service, increase market share and lower operating costs. Guidewire InsuranceSuite™ provides the core systems used by insurers as operational systems of record. Additional products provide support for data management, business intelligence, anytime/anywhere access and guidance and monitoring. More than 150 Property/Casualty insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.

NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite, Guidewire DataHub, Guidewire InfoCenter, Guidewire Live, Before & After, Guidewire PartnerConnect, Guidewire SolutionConnect, Deliver Insurance Your Way, and the Guidewire logo are trademarks, service marks, or registered trademarks of Guidewire Software, Inc. in the United States and/or other countries.

Copyright Business Wire 2010

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