HANNOVER, Germany & MUNICH--(BUSINESS WIRE)--The VHV Group, with its core companies VHV Allgemeine Versicherung AG and Hannoversche Lebensversicherung AG, is one of the 20 leading primary insurance groups and one of the largest motor and construction insurers in Germany and, as a life insurer, a specialist in biometric business. In order to strengthen its leading position in the market and to continue to meet changing customer demand and need in the best possible way in the future, VHV Allgemeine Versicherung AG is renewing its insurance application landscape as part of a comprehensive transformation project. As software provider and partner in this project, VHV has chosen Guidewire.
Release 1 "Motor Claims" was successfully launched with the migration that has now taken place as an important milestone in the company-wide digitization project. Meanwhile, more than 500,000 claims have been processed already in the new system. In July, the migration of the motor claims management system was carried out – with more than 2.3 million closed and open claim files migrated from the old VHV claims system to Guidewire ClaimCenter. Since then, all motor claims handlers have been using the new Guidewire claims system. This makes VHV the first German insurer to successfully complete the migration of a motor claims system to Guidewire.
"Modern insurance core systems form the basis of the VHV Group's digitization to meet the challenges of digital business models and the changing expectations of customers and business partners," explains Bernd Scharrer, Chief Operating Officer at VHV. "In addition to competitive products and tariffs, an effective claims management system and efficient processes are crucial for market success. With the introduction of Guidewire ClaimCenter, we have taken a first important step in this direction," adds Dr. Sebastian Schulz, who has been managing the project as Managing Director since 2019.
"We are pleased with the successful ClaimCenter implementation at VHV, which is a benchmark for many other projects in the industry and beyond," said Mark Williams, Vice President, Professional Services – EMEA at Guidewire.
Guidewire wants to contribute to the successful digitization of processes and workflows at VHV, so that VHV can fulfill its performance promise "insured by experts" through optimized, modern systems that are future-proof and sustainable.
As a next step, VHV plans to gradually roll out Guidewire PolicyCenter for motor insurance contract processing. Further expansion of ClaimCenter in other lines of business will follow in the coming years.
The VHV Group is a professional and reliable partner in the areas of insurance, pension plans and assets. Our strong foundation is a stable business policy, which on the one hand is based on tradition and experience and on the other hand sets itself new future-oriented goals.
The VHV Group companies are specialized experts who operate independently in clearly defined sub-markets. VHV Allgemeine Versicherung AG is a traditional specialist building insurer (founded in 1919) and one of the largest German motor and liability insurers. The main sales channel is the cooperation with over 12,000 qualified independent insurance agents.
Guidewire is the platform general insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. As of the end of our fiscal year 2019, more than 380 insurers, from new ventures to the largest and most complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.
NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.