(Peru’s Cerro Alpamayo. Photo credit: Brad Mering.)
Pacífico Seguros, a multiline insurer based in Lima, Peru, has deployed Guidewire Insurance Suite as its new underwriting, policy administration, billing and claims management platform. The initiative, which also includes the Guidewire Rating Management and Client Data Management modules, is part of a three-year transformation program aimed at greater speed to market and distribution channel expansion.
Pacífico conceived the initiative as something more than a packaged software implementation, involving core process transformation, according to Luciano Bedoya, SVP, Operations, Processes and IT, Pacífico. “This is why we refer to the implementation as a transformation program, which drives a deeper message throughout the organization and has helped garner engagement, involvement and sponsorship from all stakeholders inside Pacifico,” Bedoya comments. “We also say ‘this is basically a change in the way we live.’”
The insurer’s transformation program is directed at diversifying its business from a predominant focus on commercial lines to growth in personal lines. Pacífico also seeks to simplify operational processes and IT architecture, decrease operational costs, and improve overall new product speed-to-market. The carriers existing systems were built exclusively for personal lines.
Pacífico has gone live on Insurance Suite for personal auto products distributed through its telemarketing channel. The insurer will deploy InsuranceSuite to the rest of its personal lines business and then shift work to commercial lines operations.
“We believe that InsuranceSuite’s out-of-the-box functionality and application architecture were key to the success of our project,” Bedoya adds. “We are already capturing significant benefits from InsuranceSuite, especially in terms of improved productivity and effectiveness for our agents and service representatives, and we are looking forward to the additional opportunities the suite will bing as we extend its deployment across the rest of our lines of business.”