Hollard Insurance, a leading player in the insurance industry, has achieved remarkable operational improvements through its recent implementation of Guidewire ClaimCenter, a cutting-edge cloud-based platform. This strategic move has proven to be a game-changer for the insurer, offering enhanced claims management capabilities and a superior customer experience, as per Insurtech Insights report.
The transition to Guidewire ClaimCenter began in mid-2022, with an initial focus on Hollard’s personal lines broker business. This forward-thinking initiative involved replacing a multitude of legacy systems to modernize and optimize their claims processing procedures.
In a recent update, Paige Vincent, Hollard’s Chief Operating Officer, announced a substantial reduction in claims initiation time shortly after implementing Release 2 of the platform for their direct partners. This efficiency boost has had a direct, positive impact on overall customer satisfaction, with noticeable improvements observed since the platform’s initial launch.
Vincent expressed her enthusiasm about the ongoing benefits: “We have witnessed consistent improvements in our broker services, with customer satisfaction significantly rising over the past year since our initial release. Our teams are excited about the continuous opportunities this brings.”
The adoption of Guidewire’s platform has not only streamlined Hollard’s operations but also reduced the time and effort spent on system maintenance. Jamie Smith, Chief Transformation Officer at Hollard, highlighted that this shift enables their team to prioritize delivering an enhanced user experience for employees, brokers, and customers. Their ultimate goal is to retain and expand their business by providing exceptional service, and support insurance companies fintech collaboration.
In addition to Guidewire ClaimCenter, Hollard has seamlessly integrated other components of the Guidewire ecosystem, including Guidewire Cloud Data Access, ProducerEngage, CustomerEngage, and the Australia Goods and Services Tax for Claims capability. These integrations grant Hollard near real-time access to critical data, further amplifying their operational efficiency and customer service capabilities.
Hollard’s adoption of Guidewire’s innovative platform represents a significant milestone in their commitment to offering top-notch insurance services, positioning them at the forefront of the industry’s digital transformation.
“We needed to optimise our digital capability, and improve scalability, and efficiency,” Hollard CEO Paul Fahey said.
He added: “We looked for an elite partner to work with to build our single claims platform, enabling the experiences we want to deliver to our brokers and customers.”
—————————————————————————————————
About Innovation Streets:
Welcome to InnovationStreets.com! Get the latest insights from the finance and technology industries. Discover industry updates on Fintech Innovations, Regulatory Developments, Industry Insights, Events, and Banks/Insurance partnerships with fintechs. A platform for C-level executives to submit Thought Leadership content for their peers. Subscribe for updates!
