Alfa Insurance has selected Guidewire InsuranceSuite as the Mongomery, Ala.-based multiline P&C and life insurer’s transformation platform. Alfa will use InsuranceSuite for underwriting, policy administration, claims management, billing and client data management, according to a vendor statement.
Alfa’s transformation initiative will include consolidation of existing legacy systems to simplify its infrastructure in order to reduce maintenance costs, streamline business processes and achieve the agility it needs to remain competitive in a changing market.
“Because of the wide array of products Alfa now offers across property, vehicle, farm, and commercial lines, we needed a suite of integrated systems that could potentially handle all of these lines as well as provide us with a customer-centric method to service our customers,” comments Jeff Frazee, CIO, Alfa Insurance. “In addition, we were impressed with the maturity of Guidewire’s products and its track record of successful implementations.”
The potential efficiency gains from implementing InsuranceSuite also made for a compelling proposition, according to Beth Chancey, VP, Property and Commercial Underwriting, Alfa Insurance. “Beyond the IT benefits of a simpler, integrated technology platform, we’ll also gain real-time visibility into our core operations across our lines of business and be better able to service our agents and customers,” she says.
Among the benefits Alfa will enjoy by implementing InsuranceSuite are the following, according to Guidewire:
- Increased speed-to-market through integrated, modern systems;
- Delivery of a better service experience to their agent network;
- Enhanced operational efficiency by standardizing policy administration, billing management and claims handling processes on a common platform; and
- Improved flexibility to comply with national and state regulations.