Universal Group Extends Guidewire Selection Adding Reinsurance Management
Business Wire, Inc. |
Guidewire InsuranceSuite™ companion modules provide foundation to manage ceded property/casualty reinsurance processes and consolidate customer data across core operations
“These additional Guidewire modules for Reinsurance and Client Data Management are ideal to help us further improve our service capabilities and the efficiencies of our operations,” said Luis Pérez Sánchez, Chief Administrative Officer,
Universal insurance is currently implementing all core Guidewire InsuranceSuite applications for its personal and commercial lines of business. The addition of Guidewire Reinsurance Management and Guidewire Client Data Management will enable Universal to:
- Reduce excessive risk exposure by detecting and managing treaty and facultative reinsurance arrangements;
- Accurately calculate ceded premiums, commissions, ceded reserves and recoverable amounts for proportional reinsurance agreements;
- Reduce recoverable leakage with automatic notification and tracking of reinsurance during claims handling;
- Gain a holistic, single source of truth view of customer data across its billing, claims and policy administration systems;
- Detect and merge duplicate customer records for reduced redundancy; and
- Track history of contact information changes.
“We are pleased that
Guidewire Reinsurance Management, as part of Guidewire InsuranceSuite, enables insurers to effectively manage programs, consistently support underwriting and claims processes, and accurately calculate reinsurance financials. Reinsurance Management delivers the automation insurers need to effectively manage ceded processes. Providing the capability to handle proportional as well as non-proportional treaty and facultative reinsurance agreements across underwriting and claims processes, Reinsurance Management helps insurers reduce excessive risk exposure and recoverable leakage while increasing operational efficiencies.
Guidewire Client Data Management is a
About Universal Group
Universal Group is known across
About
NOTE: Guidewire,
Luis Pérez Sánchez
Chief Administrative Officer and Senior VP
+1.787.793.7202
[email protected]
or
+1.650.356.4941
[email protected]
Source:
Copyright: | Copyright Business Wire 2012 |
Wordcount: | 760 |
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