LV= General Insurance Deploys Guidewire InsurancePlatform

Business Wire 14-Jan-2019 5:00 AM

Transformation enables UK insurer to provide enhanced customer service, increase efficiency and productivity, and reduce operational cost

Guidewire Software, Inc. (NYSE:GWRE), provider of the industry platform general insurers rely upon, today announced that LV= General Insurance (LV= GI), one of the UK's largest personal lines insurers, has successfully deployed Guidewire Core and Data solutions in the largest transformation the business has ever undertaken. LV= GI completely replaced their core legacy systems and implemented multiple new products, including Guidewire PolicyCenter™, Guidewire BillingCenter™, and Guidewire DataHub™ for underwriting, policy administration, billing management, and data management.

The transformation for LV= GI was completed in two and a half years, and they are now selling all Motor and Home insurance products on the new platform, as well as migrating all their existing customers.

"We are really pleased to have successfully transformed our business using Guidewire InsurancePlatform™," said Gavin Drescher, IT Delivery Director for LV= GI. "We have simplified many of our core transactional processes, making us more efficient and productive, while at the same time reducing operating expenses. On the new system, we have also successfully launched a number of new products, and integrated our new rating and customer fulfillment capabilities. All of this has made it much easier for our customers to do business with us which, in turn, has resulted in our customer satisfaction scores improving significantly."

Guidewire's Core and Data solutions have enabled LV= to:

  • Train employees to do more for customers (producing fewer call transfers and telephone numbers) through modern systems and simple processes;
  • Create quote validation to improve customer experience, as well as reduce operational expenses;
  • Boost call centre efficiency and enable digital ambitions, by redesigning the customer journey, making it simpler and more efficient for customers and frontline employees; and
  • Successfully monitor business performance across both legacy and new platforms.

"We congratulate LV= on their successful deployment of Guidewire Core and Data products," said Sheridon Glenn, vice president, Field Consulting, Professional Services, Guidewire Software. "Already a long-standing Guidewire ClaimCenter™ customer, we are gratified they chose to extend their relationship with us, and that InsurancePlatform is enabling them to provide the high-quality and flexible service their customers expect."

About Guidewire Software

Guidewire delivers the industry platform that general insurers rely upon to adapt and succeed in a time of accelerating change. We provide the software, services, and partner ecosystem to enable our customers to run, differentiate, and grow their business. We are privileged to serve more than 350 companies in 32 countries. For more information, please visit www.guidewire.com and follow us on twitter: @Guidewire_PandC.

About Liverpool Victoria General Insurance Group Limited

Liverpool Victoria General Insurance Group Limited (LVGIG) is an LV= branded strategic partnership between LV= and Allianz Holdings Plc, following the sale of a 49% stake in LV='s General insurance business on 28th December 2017, creating the UK's third largest personal insurer with over £1.7 billion annual premium income.

LVGIG is a holding company employing over 3000 staff and incorporating two regulated insurance companies. Liverpool Victoria Insurance Company Limited (LVIC), registered in England and Wales number 03232514 and Highway Insurance Company Limited (HICO), registered in England and Wales number 03730662, both registered at County Gates, Bournemouth, BH1 2NF are part of the Liverpool Victoria Group of companies and are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. (LVIC FRN number 202965 and HICO FRN number 202972).

LV= and Liverpool Victoria are registered trademarks of Liverpool Victoria Friendly Society Limited and LV= and LV= Liverpool Victoria are trading styles of the Liverpool Victoria Group of companies.

NOTE: For all information about Guidewire's trademarks, visit https://www.guidewire.com/legal-notices.

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