Mitsui Sumitomo Insurance Deploys Guidewire ClaimCenter Nationwide for Claims Modernization

Rhea-AI Summary

Guidewire Software (NYSE: GWRE) announced a successful nationwide deployment of ClaimCenter by Mitsui Sumitomo Insurance (MSI) for its auto insurance line in Japan. The new system, which began in Hokkaido in July, is fully operational across all regions as of November. This digital transition enables a paperless workflow, enhancing remote operations and facilitating faster claims processing. MSI plans to expand the system's use to cover other insurance claims starting in 2023, further boosting productivity and collaboration within the MS&AD Insurance Group.

Positive

• Successful nation-wide deployment of ClaimCenter by Mitsui Sumitomo Insurance.
• Transition to a paperless operational framework enhances efficiency and remote access.
• Improved loss adjustment capabilities and productivity within the MS&AD Insurance Group.
• Future expansion of the system to cover additional types of insurance claims.

Negative

• None.

TOKYO & SAN MATEO, Calif.--(BUSINESS WIRE)--

Guidewire Software, Inc. (NYSE: GWRE) today announced that Mitsui Sumitomo Insurance (MSI), an MS&AD Insurance Group company, has successfully completed a nationwide deployment of Guidewire ClaimCenter for its auto line of business in Japan. Use of the new system commenced in the Hokkaido region in July this year and by November had expanded in phases to cover all regions of the country. MSI’s centralized accident reporting center has also commenced using the system.

Claims payment and loss adjustment operations such as confirming damage were previously performed based on paper documents, which limited the ability to conduct operations remotely. However, by adopting ClaimCenter as its claims payment system for its P&C insurance business operations, MSI has established a structure where “paper documents” are stored electronically based on the new system to create a paperless operational framework. Documents are now accessible from any location enabling the company to respond quickly to any accident or disaster.

MS&AD Insurance Group has transformed its claims operations through the deployment of ClaimCenter, enabling further improvements in its loss adjustment capabilities and productivity through demonstrating synergies and strengthening cooperation within the group. Use of the new system will expand to include fire, accident and casualty insurance claims from 2023.

“We congratulate Mitsui Sumitomo Insurance on its successful implementation of Guidewire ClaimCenter for its auto line of business,” said Roland Slee, managing director, Asia-Pacific, Guidewire Software. “We are pleased to have played a role in MSI’s digital transformation to become a paperless organization and to have participated in the company’s mission of contributing to developing a vibrant society and helping secure a sound future for the planet by enabling safety and peace of mind through its global insurance and financial services businesses.”

About Mitsui Sumitomo Insurance

Mitsui Sumitomo Insurance is a core MS&AD Insurance Group company and is responsible for property and casualty insurance business. With its comprehensive capabilities, the company offers insurance and financial services globally. For more information, please visit https://www.ms-ins.com/english/.

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 450 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.

For more information, please visit https://www.guidewire.com/ and follow us on Twitter: @Guidewire_PandC.

NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211111005558/en/

Diana Stott

Director, Communications

Guidewire Software, Inc.

+1.650.356.4941

dstott@guidewire.com

Source: Guidewire Software, Inc.

FAQ

What is the significance of Guidewire's ClaimCenter deployment by Mitsui Sumitomo Insurance?

The deployment signifies a major step towards digital transformation for Mitsui Sumitomo Insurance, enhancing claims efficiency and enabling a paperless framework.

When did Mitsui Sumitomo Insurance start using Guidewire's ClaimCenter?

Mitsui Sumitomo Insurance began using ClaimCenter in July and completed nationwide deployment by November.

What types of insurance will Mitsui Sumitomo Insurance include in the future with ClaimCenter?

MSI plans to expand the ClaimCenter system to include fire, accident, and casualty insurance claims starting in 2023.

How does the deployment of ClaimCenter benefit Mitsui Sumitomo Insurance?

The deployment allows for improved productivity, faster claims processing, and better collaboration within the MS&AD Insurance Group.