Guidewire has also launched a new SaaS platform today
Liberty Specialty Markets (LSM) has chosen Guidewire to automate its claims management for Lloyd’s of London Syndicate 4472.
This will allow LSM to use one claims management system for its operations in London, helping it to build a data-driven business with all its data in one place.
Mike Gillett, chief claims officer at LSM, said: “We are impressed by the ability of the Guidewire platform to offer end-to-end claims management and tracking.
“This is a significant step for us in our strategy to build data-driven business models, with consistent operational data all in one place.”
Guidewire partner Connect Advantage partner Sollers Consulting led the technical implementation and oversaw technical design of the claims management system.
Michal Trochimczuk, managing partner of Sollers Consulting, said: “This ambitious project overcame many challenges, including migrating from a legacy system and redesigning integrations in a multifaceted system architecture.
”Lloyd’s is on the right track in its transition to data-driven business models. LSM makes an important contribution to this.”
New SaaS platform launched
Alongside this announcement, Guidewire has also today (18 October 2022) launched a new Software as a Service (SaaS) data driven platform for the London market.
Read: London market still catching up on admin backlog caused by pre-pandemic ‘creaking systems’
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It will allow London market insurers to access and connect with seamless third-party systems.
The platform embeds analytics and data to offer end-to-end capabilities from placement to settlement.
The new system will allow premium handling, simplified risk capture and pre-bind support for London market insurers.
Guidewire’s platform capability is aimed at solving problems for complex commercial lines insurers and enables the consolidation of products, accounts, policies and claims into one open platform – supported by integrated data and analytics.
Will McAllister, managing director for Europe, Middle East and Africa at Guidewire, said: “As the largest global commercial and specialty risk market, the London market is long known for its expertise and excellence in underwriting virtually any type of risk, but its digital transformation is made difficult because of diverse back-office systems.
“We look forward to supporting our customers in this market in their technology transformation and are focused on their success as they deliver cutting-edge services and products to their own customers.”
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