Guidewire's Claims Management Solution Adopted By Santam
Zacks Investment Research | Feb 12, 2019 07:48AM ET
Guidewire Software, Inc. (NYSE:GWRE) recently announced that South Africa-based insurer Santam will deploy the company’s ClaimCenter offering across personal and commercial business domains.
Futher, Santam intends to implement ClaimCenter solution along its non-commercial motor segment in the first quarter of 2020.
Notably, ClaimCenter is a comprehensive insurance claims lifecycle management solution which encompasses adjudication, operational reporting and loss-report intake processes. The solution is designed to benefit insurers with streamlined claims management processes, enabling them to boost operational efficiencies.
Additionally, Guidewire’s DataHub and InfoCenter solutions have also been adopted by Santam due to their robust business intelligence and data management capabilities.
It is to be noted that Guidewire’s InsurancePlatform solution is already aiding Santam in enhancing its insurance processes. With the synergies of the recently selected offerings and access to Guidewire’s Marketplace, Santam anticipates to provide innovative solutions and minimize total cost of ownership or TCO.
We believe that rapid adoption of Guidewire’s solutions will aid the company to bolster subscription revenues, consequently enabling it to expand its total addressable market or TAM.
Moreover, Guidewire’s ClaimCenter solution is witnessing traction lately. In fact, ClaimCenter solution has been implemented by Japan-based Rakuten General Insurance Co., Ltd. with full-scale deployment due in 2019. With the solution, Rakuten expects to increase accident claims management by 150% for its automobile insurance policyholder customers.
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Shares of Guidewire have returned approximately 21.1% in the past year, substantially outperforming the Zacks Investment Research
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