Global specialty property and casualty insurer and reinsurer, Catlin Group has chosen Guidewire InsuranceSuite as its new platform for rating, underwriting and policy administration, claims management, and billing.
As part of a plan to strengthen its business in the US, Catlin migrated on Guidewire's platform, which will provide visibility into claims operations, data analytics and enhances reporting capabilities.
The platform, which reduces loss adjustment expense, and enables proactive management of claims, is available as a standalone system or as part of the Guidewire InsuranceSuite, and can be integrated into an insurer's legacy systems or third party applications.
The company said that the technology is capable to manage its complex specialty lines and allows entering new markets, while supporting 20 offices across the US. In a phased manner, Catlin plans to deploy the full suite simultaneously by line of business.
Catlin Group technology solutions source Steve Naish said that the company is impressed with each solution from Guidewire - ClaimCenter, PolicyCenter, and BillingCenter - as well as the overall enterprise capabilities that Guidewire InsuranceSuite exhibited throughout the selection process.
"From the automation opportunities to the rich source data for decision making, InsuranceSuite included a toolset that we felt could help us continue to profitably grow our business," Naish added.
Catlin's underwriting centers are located in London/UK, Bermuda, the US, Asia-Pacific, Europe, and Canada, which enables the group to maintain presence in every major insurance market across the globe.