February 14, 2014 by Canadian Underwriter
The Insurance Corporation of British Columbia (ICBC) has selected Guidewire Software Inc.’s new underwriting and policy administrative solution in a move expected to help ICBC enhance operational efficiencies and make it easier to do business with its brokers and customers.
ICBC, a provincial Crown corporation and sole provider of universal compulsory auto insurance in British Columbia, will use Guidewire PolicyCenter, notes a statement issued Thursday by Guidewire Software, a provider of software products to property and casualty insurers. Guidewire PartnerConnect alliance member, EY (Ernst & Young), will lead the implementation project.
PolicyCenter seeks to help insurers streamline front and back office processes, from new business submission and quoting through policy renewals. It can be integrated to an insurer’s legacy systems or third-party applications.
Guidewire Software reports the solution will help ICBC roll out improvements to products and pricing more quickly and cost-effectively; take advantage of new technologies to better serve customers; and enhance operational efficiencies by automating manual tasks.
A lot of what ICBC currently does in terms of its sales process is “manual, time-consuming and inflexible,” Kellee Irwin, ICBC’s vice president of insurance and driver licensing (acting), says in the statement. The solution will allow ICBC to adopt “foundational technology that is flexible and future-oriented,” Irwin notes.
“We recognize ICBC’s commitment to providing high levels of service to their customers and look forward to helping them reach their goals,” adds Steve Sherry, group vice president, Americas Sales for Guidewire Software.