WARREN, N.J. & FOSTER CITY, Calif.--(BUSINESS WIRE)--Mitsui Sumitomo Marine Management (U.S.A.), Inc. (MSMM), a commercial Property and Casualty (P&C) insurer, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to P&C insurers, today announced that MSMM has successfully deployed Guidewire Underwriting Management™ as the new cloud-based underwriting workstation for its commercial lines of business in the states where it operates. The company also recently selected Guidewire ClaimCenter™ as its new claims management system, and Guidewire CustomerEngage™ Account Management and Guidewire ProducerEngage™ to enhance the digital claims experience of its policyholders and agents.
MSMM deployed Underwriting Management to increase the efficiency and effectiveness of its underwriters, to facilitate oversight of its underwriting operations, and to improve responsiveness to brokers and agents for both new and renewal business. The first phase of implementation went live in October 2017, with Mitsui planning to gather employee feedback over the course of 2018 that will drive enhancements during the next implementation phase in 2019.
“Our current underwriting management process is not as efficient as we would like since it is a paper or manual system. This also impacts the ability of staff members travelling or working from home to engage efficiently with the company,” said Michael Daly, chief underwriting officer, MSMM. “With Underwriting Management automation, we will be able to capture increased levels of productivity including a heightened ability to work remotely, which will enhance our capacity to deliver high-quality customer service.”
MSMM implementation project owners Marc Dantuono and Mike Farley said, “The biggest advantages we are gaining from Underwriting Management are a paperless environment and having the underwriting workflows all in one place, funneling through one system. We have also been able to standardize our processes across all our regions/zones.”
Underwriting Management is enabling MSMM to:
- Offer a more efficient workflow by reducing clerical duties and data errors
- Strengthen compliance by enforcing underwriting mandated processes and procedures
- Enhance service response times to brokers and agents
“We congratulate MSMM on its successful deployment of Underwriting Management and are pleased that it has extended its relationship with us through the selections of ClaimCenter, CustomerEngage Account Management, and ProducerEngage,” said Mike Polelle, chief delivery officer, Guidewire Software. “We applaud the company’s commitment to seek ways to improve its work and business to achieve customer satisfaction, and look forward to continuing to help the company adapt and succeed in the rapidly-changing insurance industry.”
About Mitsui Sumitomo Marine Management (U.S.A.), Inc.
As part of the Mitsui Sumitomo Insurance Group (MSIG), Mitsui Sumitomo Marine Management (U.S.A.), Inc. is responsible for managing the member insurance companies located in the United States.
The U.S. member insurers of MS&AD Insurance Group, (“MSIG”) are subsidiaries of Mitsui Sumitomo Insurance Company, Limited, which is considered among the world’s top property and casualty insurance companies. MSIG’s U.S. operation is part of a global network of operations located in more than 40 countries, with its parent company located in Japan. MSIG has a Standard & Poor’s rating of A+1 and an A.M. Best Company Rating of A+ (Superior). MSIG specializes in providing commercial property and casualty insurance products to its customers in the United States. MSIG also offers risk management services consisting of loss control and claims administration and rehabilitation services, along with personal lines insurance services. For more information, visit our website at www.msigusa.com.
MSIG refers to the MS&AD Insurance Group insurers underwriting coverage: Mitsui Sumitomo Insurance Company of America, Mitsui Sumitomo Insurance USA Inc. and Aioi Nissay Dowa Insurance Company of America. Actual coverage is subject to the language of the policies as issued. For claim services, whether or not or to what extent a particular loss is covered depends on the facts and circumstances of the loss and the language of the policies as issued. For risk engineering (loss control) services, risk engineering documents are advisory in nature. They are offered as a resource to be used together with professional insurance advisers in maintaining a loss prevention program. MSIG assumes no liability by reason of the information contained in such documents. MS&AD Insurance Group, 15 Independence Boulevard, P.O. Box 4602, Warren, NJ 07059-0602.
About Guidewire Software
Guidewire delivers the software that Property and Casualty (P&C) insurers need to adapt and succeed in a time of rapid industry change. We combine three elements – core operations, data and analytics, and digital engagement – into a technology platform that enhances insurers’ ability to engage and empower their customers and employees. More than 300 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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