News Column

Pacifico Seguros Deploys Guidewire Products for Underwriting, Rating, Policy Administration, Billing and Claims Management

May 13, 2014

Guidewire InsuranceSuite™ is helping Peruvian insurer increase its speed to market and expand its traditional portfolio of channels

LIMA, Peru & FOSTER CITY, Calif.--(BUSINESS WIRE)-- Pacifico Seguros (Pacifico), a leading insurance company in Peru, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty (P/C) insurers, today announced that Pacifico has successfully deployed Guidewire InsuranceSuite™ as its new underwriting, policy administration, billing and claims management platform. Pacifico’s implementation also leverages the Guidewire Rating Management™ and Client Data Management modules.

Pacifico selected and deployed InsuranceSuite as part of an initiative to diversify its business from a predominant focus on commercial lines to now growing its personal lines’ business. The company also wanted to simplify its operational processes and IT architecture, decrease operational costs, and improve its overall new product time to market. Prior to InsuranceSuite, Pacifico’s supporting processes and IT platforms were built exclusively for commercial lines.

Pacifico is currently in production with InsuranceSuite for its personal auto products distributed through its Telemarketing channel. The company will be deploying InsuranceSuite to the rest of its personal lines business, and will then shift to its commercial lines operations.

“We believe that InsuranceSuite’s ‘out of the box’ functionality and application architecture were key to the success of our project,” said Luciano Bedoya, Senior Vice President, Operations, Processes and Information Technology for Pacifico Seguros. “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 bring as we extend its deployment across the rest of our lines of business.”

InsuranceSuite is enabling Pacifico to:

  • Expand their distribution channels beyond the traditional agents and brokers;
  • Increase speed to market and become easier to do business with; and
  • Provide its staff with an intuitive and integrated technology platform to allow them to do their job quickly and efficiently.

    “We are pleased that Pacifico Seguros, a leader in the Peruvian insurance market, has successfully deployed Guidewire InsuranceSuite, and we congratulate them on their implementation project,” said Alex Naddaff, Senior Vice President, Programs, Guidewire Software. “We are proud to have played a role in the project and look forward to continuing the business transformation journey with them.”

    Guidewire InsuranceSuite powers the mission-critical operations of property/casualty insurers competing in today’s market. The suite was designed using a modular approach, enabling insurers to select individual applications — Guidewire PolicyCenter®, Guidewire BillingCenter® and Guidewire ClaimCenter®— or a pre-integrated set, driven by their requirements and priorities. InsuranceSuite provides the flexibility insurers need to deliver insurance the way they want to, by rapidly delivering better products and service to their policyholders and agents, while improving underwriting discipline and lowering operational costs.

    About Pacifico Seguros

    Pacifico Seguros, part of Creditcorp Ltd., the largest financial holding company in Peru, consists of more than 5,000 professionals who are dedicated to providing a comprehensive range of products and services that enable corporate customers and individuals to manage their risks efficiently. Pacifico Seguros provides risk management solutions for property and casualty, health, auto, life, and annuities. It was the first Peruvian insurance company to obtain an international investment grade by Moody's and Fitch Ratings. For more information, please visit www.pacificoseguros.com.

    About Guidewire Software

    Guidewire builds software products that help Property/Casualty insurers replace their legacy core systems and transform their business. Designed to be flexible and scalable, Guidewire products enable insurers to deliver excellent service, increase market share and lower operating costs. Guidewire InsuranceSuite™ provides the core systems used by insurers as operational systems of record. Additional products provide support for data management, business intelligence, anytime/anywhere access and guidance and monitoring. More than 150 Property/Casualty insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.

    NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite, Guidewire PartnerConnect, Guidewire SolutionConnect, Guidewire Live, Live Inside, Before & After, Claim Canvas, Viewpoint, Deliver Insurance Your Way, and the Guidewire logo are trademarks, service marks, or registered trademarks of Guidewire Software, Inc. in the United States and/or other countries.




    Guidewire Software, Inc.

    Diana Stott, +1-650-356-4941

    Director, Communications

    dstott@guidewire.com

    or

    Pacifico Seguros

    TalÍa Peschiera, +51 (1) 518 4000

    Public Relations Manager

    tpeschiera@pacifico.com.pe

    Source: Guidewire Software, Inc.


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