HSB Deploys Guidewire Systems for Underwriting, Policies, Billing and Data
Guidewire PolicyCenter®, BillingCenter and DataHub™ Enhance Customer Experience
The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re, and Guidewire Software, Inc., (NYSE: GWRE), a provider of software products to property/casualty insurers, announced today that HSB has deployed Guidewire PolicyCenter® as its new global underwriting and policy administration system and BillingCenter as its new billing management system.
HSB also has become the first U.S.-based insurer to deploy Guidewire DataHub™ as its data management system, which allows HSB to extract and better utilize Guidewire system information.
HSB is now a fully-deployed Guidewire InsuranceSuite™ customer, enhancing its insurance systems to bring greater flexibility and functionality to its customers and business partners in the United States and United Kingdom. In 2014, HSB deployed Guidewire ClaimCenter® as its new platform for claims management.
“The deployment of Guidewire PolicyCenter, BillingCenter, and DataHub in the span of ten months represents a significant achievement in our company’s long-term business transformation,” said Matthew Forman, HSB senior vice president, operations. “These systems will help HSB simplify our products and processes onto a common set of global platforms. They improve our speed-to-market capabilities and give us the agility and cost advantage to support our business strategy.”
With the deployment of Guidewire PolicyCenter and BillingCenter, HSB has enhanced its policy administration and billing management system to be more responsive to insureds, agents and client insurance companies. HSB also has streamlined its process and system infrastructure, easing maintenance and the ability to extend its functions.
In 2016, HSB used the Guidewire systems to implement its cyber insurance products for small and medium-sized businesses in the United States and United Kingdom.
“We congratulate HSB on their successful implementation of Guidewire core and data products,” said Mike Polelle, chief delivery officer, Guidewire Software. “We are pleased to expand our relationship with them and provide the technology foundation that will help HSB adapt and succeed in a time of rapid industry change.”
Note for the editorial staff
Hartford Steam Boiler (HSB), a member of Munich Re’s Risk Solutions family since 2009, is a leading specialty insurer providing equipment breakdown, other specialty coverages, inspection services and engineering-based risk management that set the standard for excellence worldwide. We focus on clients and partner with them to craft inventive insurance and service solutions to cover existing and emerging risks posed by technological change. Today, as throughout our 150 year history, our mission is to use our engineering knowledge and insights to help clients prevent loss, advance sustainable use of energy resources and build deeper relationships that benefit business, industry, public institutions and consumers. HSB holds A.M. Best Company’s highest financial rating, A++ (Superior). For more information, visit www.hsb.com and connect on LinkedIn, Twitter and Facebook.
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2015, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €3.1bn on premium income of over €50bn. It operates in all lines of insurance, with over 43,000 employees throughout the world. With premium income of around €28bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in the ERGO Insurance Group, one of the leading insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2015, ERGO posted premium income of €17.9bn. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re’s global investments (excluding insurance-related investments) amounting to €215bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.
Guidewire Software, Inc., delivers the software that Property/Casualty (P/C) insurers need to adapt and succeed in a time of rapid industry change. We combine three elements – core processing, data and analytics, and digital engagement – into a technology platform that enhances insurers’ ability to engage and empower their customers and employees. More than 200 P/C insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.
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NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, Guidewire BillingCenter, are registered trademarks of Guidewire Software, Inc. in the United States and/or other countries.
Hartford, Connecticut, June 28, 2016
The Hartford Steam Boiler Inspection and Insurance Company
One State Street
P.O. Box 5024
Hartford, Connecticut 06102-5024