Guidewire Software has announced the release of a policy administration system for all lines of property and casualty insurance.
PolicyCenter is an online application designed to make it easier for agents to do business with insurance carriers, enhance underwriting accuracy, and adapt flexibly to changing product and business requirements.
Among its features, Guidewire says its PolicyCenter will include support for all policy transactions, an agent portal with integration to leading agency management systems, electronic underwriting and policy files tailored to each line of business and rule-based funneling of applications through eligibility, prequalification and risk suitability criteria.
Underwriting professionals told us they needed an intuitive, rule-driven policy processing environment to maximize and optimize their underwriting business. Meanwhile, IT organizations said they needed to consolidate systems and improve their responsiveness to changing business requirements, said Marcus Ryu, vice president of strategy and new products, Guidewire Software.
We designed PolicyCenter to enable both goals, allowing underwriters to focus on risk evaluation and agent relationships, rather than data entry and system frustrations.