NLC Selects Guidewire Solution To Modernise Its Core Operations
New England Property/Casualty insurer to streamline doing business with its customers and agents with Guidewire InsuranceSuite™
NORWICH, Conn. and FOSTER CITY, Calif., October 6, 2015 – New London County Mutual Insurance Company (NLC), a New England Property/Casualty insurer, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty (P/C) insurers, today announced that NLC has selected Guidewire InsuranceSuite™ as its new platform for underwriting, policy administration, claims management, billing, and rating. HCL Technologies, a leading global IT services provider and Guidewire PartnerConnect® Consulting alliance member, will lead the implementation.
NLC selected InsuranceSuite to help it modernise its core system infrastructure and operations in order to better address the evolving needs of its agents and customers. The company also sought to make its product offerings more nimble, enable speed to market, and increase the ease of pricing changes.
“We were impressed with the high-level of functionality that Guidewire InsuranceSuite has out-of-the-box,” said James Parylak, vice president and chief information officer, NLC. “We felt that we could take InsuranceSuite, implement it, and realise its benefits relatively quickly.”
Guidewire InsuranceSuite will enable NLC to:
- Enhance its customer service levels by providing customers with multiple self-service options (mobile, Internet, and phone);
- Leverage tools that will eliminate manual processes making it easier for agents to do business with them; and
- Enhance operational efficiency and productivity throughout the organisation by standardising policy administration, billing management and claims handling processes on a common platform.
“We’re excited that NLC has selected HCL as a strategic implementation partner for this business-critical, core system transformation initiative,” said Parag Samarth, corporate vice president, financial services, HCL Technologies. “Our tool-based, comprehensive system integration process for platforms such as Guidewire InsuranceSuite combined with our Agile approach and our accelerator frameworks will enable NLC to shorten implementation times and get into production more quickly. This will help drive immediate high-value business benefits for NLC’s operations, agencies, policyholders, and future growth plans.”
“We are pleased to welcome NLC to the Guidewire community as an InsuranceSuite customer,” said Steve Sherry, group vice president, America Sales, Guidewire Software. “We admire their commitment to providing high levels of service to their customers, and we feel that InsuranceSuite is an ideal match to help them meet their service goals.”
About New London County Mutual Insurance Company
New London County Mutual Insurance Company is part of NLC Insurance Companies. NLC offers personal and commercial lines products through a network of independent agencies in Connecticut, Massachusetts, and Rhode Island. NLC and its affiliated companies are rated A- “Excellent” by A.M. Best Company, Inc., a nationally recognised rating organization.
About HCL Technologies
HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses. HCL has focused on 'transformational outsourcing', underlined by innovation and value creation, offering an integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and RD services and Business services. HCL leverages its extensive global infrastructure and network of offices in 31 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare Life sciences. HCL’s organisational beliefs of 'Employees First, Customers Second', ‘Trust, Transparency and Flexibility’, and ‘Value Centricity’ empower its 106,107 Ideapreneurs to create real value for customers by delivering a Relationship Beyond the Contract. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 6.0 billion, as on 30th June 2015 (on LTM basis). For more information, please visit www.hcltech.com.
About Guidewire Software
Guidewire delivers the software that Property/Casualty (P/C) insurers need to adapt and succeed in a time of rapid industry change. We combine three elements – core processing, data and analytics, and digital engagement – into a technology platform that enhances insurers’ ability to engage and empower their customers and employees. More than 200 P/C insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.
Guidewire Software, Inc.