Endurance Specialty Holdings, the Bermuda-based specialty provider of property and casualty (P/C) insurance and reinsurance,
and Guidewire Software, a provider of software products to P/C insurers, have announced that Endurance has successfully implemented Guidewire PolicyCenter® as its new underwriting and policy management solution.
Endurance also implemented Guidewire Client Data Management™.
Following a successful ClaimCenter deployment, Endurance selected PolicyCenter to replace its previous policy administration systems, which consisted of multiple, discrete systems requiring significant testing and maintenance to ensure peak performance.
Endurance successfully deployed PolicyCenter for its retail and wholesale excess casualty insurance lines of business, with approximately 40 concurrent users. This number is expected to grow to 100 users with future deployments.
As part of the next phase of the implementation project, Endurance will focus on implementing PolicyCenter for its professional liability insurance line of business in London.
Endurance plans to follow with the implementation of BillingCenter in 2016 as the final component of an integrated, end-to-end technology platform that takes advantage of the full functionality and benefits the Guidewire platform has to offer.
“Our PolicyCenter implementation has gone smoothly and user feedback has been very positive. In fact, the feedback on the first day of deployment was the best I have received since I began my insurance career,” said Alfred Goxhaj, chief information officer of Endurance.
“By following a mainly out-of-the-box implementation approach, with only minor customisation, we were able to complete the project within a very compressed timeframe and under budget.”
Endurance said that PolicyCenter enables the firm to enhance customer service levels and satisfaction by providing a fully automated solution rich in functionality; increase business agility by bringing new products and product enhancements to market more quickly by minimising custom development and multiple phase approaches; and improve operational efficiencies and lower the cost per transaction by significantly reducing manual intervention.
It also allows the firm to enhance data and analytical capabilities by standardising on a modern, well-built software technology platform that provides a vast and granular data set, according to Endurance.
Endurance, Guidewire, Bermuda, North America