The Earthquake Commission of New Zealand Subscribes to Guidewire Cloud to Simplify Claims IT Operations

Rhea-AI Summary

Guidewire Software (GWRE) announces that the Earthquake Commission of New Zealand (EQC) has subscribed to Guidewire ClaimCenter on Guidewire Cloud. This implementation will enhance EQC's claims management system and IT operations across personal lines of business. The partnership is expected to improve scalability and reduce costs. EQC has utilized ClaimCenter since 2008, emphasizing its importance for business continuity. This collaboration signals confidence in Guidewire's cloud services and aligns with EQC's mission to mitigate the impacts of natural disasters.

Positive

• EQC's subscription to ClaimCenter on Guidewire Cloud enhances its claims management system and operational efficiency.
• The implementation is expected to reduce costs and maintain up-to-date functionalities.
• Long-term partnership as EQC has used ClaimCenter since 2008 indicates strong client confidence in Guidewire.

Negative

• None.

Government-owned insurer to leverage Guidewire Cloud for scalability and business continuity

WELLINGTON, New Zealand & SAN MATEO, Calif.--(BUSINESS WIRE)-- Guidewire Software, Inc. (NYSE: GWRE) today announced that the Earthquake Commission of New Zealand (EQC), a Crown Entity responsible for providing residential natural disaster coverage throughout New Zealand, has subscribed to Guidewire ClaimCenter on Guidewire Cloud to power its claims management system and simplify its IT operations. The company plans to simultaneously implement ClaimCenter on Guidewire Cloud across all of its personal lines of business.

“The government has directed us to maintain our in-house claims capability as contingency support of our Insurer Relationship Model, so scalability was a very important consideration for us,” said Robyn Hilbourne, Product Manager – Claims Management Systems (CMS), Performance and Reporting, EQC. “We have been using ClaimCenter since 2008 and are very familiar with its capabilities. From a business continuity perspective, continuing to utilize that system and the investments we’ve made in it over the past 13 years was quite important as well. Leveraging ClaimCenter on Guidewire Cloud will help us reduce cost and enable us to always stay current with the latest functionality and features.”

“We welcome the Earthquake Commission to the Guidewire Cloud,” said Roland Slee, Managing Director, Asia-Pacific, Guidewire Software. “We appreciate this vote of confidence in our cloud service and look forward to playing an expanded role in enabling EQC’s mission of reducing the impact on people and property when natural disasters occur.”

About the Earthquake Commission of New Zealand

The Earthquake Commission (EQC) is a New Zealand Government Crown entity with functions set out under Section 5 of the Earthquake Commission Act 1993 (the Act). EQC carries out the following functions:

• Provision of natural disaster insurance for residential property (dwellings and land);
• Administration of the Natural Disaster Fund (NDF), including its investments and reinsurance; and
• Fund research and education on natural disasters, and ways of reducing their impact.

These three core functions are essential for New Zealand to effectively manage natural disaster risk.

Originally established by the New Zealand Government in 1945 as the Earthquake and War Damage Commission, EQC has been operating continuously since that time and today provides coverage for specified insured residential property in New Zealand for several natural perils, principally including earthquake, landslide, tsunami, and volcanic eruption. Further information is contained on the EQC web site (EQC.govt.nz).

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 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/20211012005082/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 EQC's subscription to Guidewire Cloud for GWRE?

EQC's subscription enhances GWRE's market presence and demonstrates the reliability of its cloud services.

How will the implementation of ClaimCenter affect EQC's operations?

The implementation will streamline EQC's claims management tasks and improve operational efficiency.

When did EQC start using ClaimCenter?

EQC has been using ClaimCenter since 2008.

What are the benefits of using Guidewire Cloud for EQC?

Guidewire Cloud will help EQC scale its operations, reduce costs, and keep its systems current.

Is Guidewire Software's partnership with EQC expected to impact GWRE's stock price?

Yes, new partnerships and subscriptions can positively influence GWRE's stock price by enhancing business growth potential.