Guidewire Software launches ClaimCenter 6.0

Jan 29, 2010 (Datamonitor via COMTEX) -- Guidewire Software has launched ClaimCenter 6.0, a new version of its claims system for property and casualty insurers.

Guidewire said that the ClaimCenter is a claims system that manages the entire claim lifecycle from first notice of loss through settlement, litigation, and recovery.

Guidewire said that the ClaimCenter 6.0's Claims Performance Monitoring is a visual display of claim health metrics designed to meet the needs of an information-driven claims organization. Providing single-click access from anywhere within ClaimCenter, Claims Performance Monitoring (CPM) brings real-time actionable information to claims personnel at all levels in a consistent manner.

CPM automatically tracks key metrics within each individual claim, eliminating the multi-step reporting process insurers currently take to learn how their claims operations are performing.

Release 6.0 enables insurers to further improve their claims operations by: streamlining and enhancing claims management processes; gaining visibility into catastrophe exposures to ensure that claims are handled promptly, consistently, and in adherence with catastrophe management and reinsurance procedures; readily identifying and tracking reinsurance recovery opportunities for large losses; providing localization packs for key geographic regions; and empowering business owners by providing them with the ability to configure ClaimCenter parameters and thresholds.

Marcus Ryu, vice president of strategy and products at Guidewire Software, said: "We are proud that ClaimCenter is the most proven modern successor to legacy claims systems for insurance carriers today. Both functionally and architecturally, it has evolved continuously through eight years of intense engineering effort, incorporating considerable input from our clients.

"The advances in ClaimCenter 6.0 make it more possible than ever for property and casualty insurers to migrate from their inflexible legacy systems and finally deliver insurance the way they want."

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