(Fountain, Marie Selby Botanical Gardens, Sarasota, Fla. Photo credit: SibylRose.)
FCCI Insurance Group, a Sarasota, Fla.-based property/casualty insurance carrier has selected Guidewire Underwriting Management as the underwriting workstation for its commercial lines of business. The cloud-based system will replace FCCI’s existing manual underwriting processes toward the goal of introducing more efficiency and enabling quicker reaction to market opportunities. FCCI deployed the Foster City, Calif.-based vendor’s ClaimCenter in 2008.
“The insurance industry is evolving rapidly, and insurers’ future success depends on their ability to evolve with it and address new customer and user demands as they emerge,” comments William Speaker, SVP, Corporate Underwriting, FCCI. “Digitizing our workflow with Guidewire Underwriting Management puts FCCI in a position to proactively adapt to a changing marketplace, accelerate and improve decision-making, and ultimately enhance how quickly we respond to customers.”
Holistic Solution to Integrate with Core Systems, Agent Platforms
“Selecting the Guidewire Underwriting Management platform was an easy choice for us for a number of reasons,” comments Jeff Frazee, SVP, CIO, FCCI. “First, it came with top marks from prior installations. The breadth of the platform was also important, as we wanted a holistic solution that could be integrated with our various core systems and agent-based platforms. Finally, Guidewire understands the unique underwriting process and the needs of our underwriters, which was key.”
Key capabilities that FCCI will enjoy from Underwriting Management are as follows, according to the vendor’s description:
- Offer a more streamlined and efficient underwriting workflow to enable consistent decision-making;
- Deliver quotes to its customers more quickly; and
- Increase responsiveness to changing business and technical requirements in the market.
“We are excited that FCCI has selected another Guidewire solution—Underwriting Management — to modernize its infrastructure and processes,” comments Steve Sherry, Chief Sales Officer, Guidewire Software. “FCCI’s choice proves its commitment to providing customers with the right coverage and peace of mind, as well as an understanding of the demands that come along with a rapidly changing industry.”
Practical Guidelines for Integrating Underwriting and Policy Systems