NICO expands deal with Guidewire, is now full-suite customer
Commercial lines insurance provider National Indemnity Company (NICO) has selected Guidewire PolicyCenter and Guidewire BillingCenter to power its policy administration, underwriting and billing businesses.
Integrating these services on the Guidewire Cloud, which it leverages, NICO can now count itself as a full Guidewire InsuranceSuite customer.
Recently, Guidewire InsuranceSuite was named InsurTech Digital’s second-best core system software for insurance in our Top 10 core systems serving the industry.
Its expanded partnership wit NICO comes after the launch of its new cloud release, Hakuba, a product designed to increase profitably for P&C insurers by leveraging autopilot workflow technology.
Leveraging best-in-class solutions to boost digital offering
Guidewire’s PolicyCenter and BillingCenter products will also support NICO as it aims to simplify IT operations and quickly adapt to ever-changing market demands.
In addition, NICO will also leverage Guidewire Explore and Guidewire Predict, allowing it to predict and price risk seamlessly.
These additional Guidewire solutions add to its existing use of Guidewire ClaimCenter which it deployed in 2018.
NICO Vice President Tracy Gulden commented on this latest deal: “We felt confident selecting PolicyCenter and BillingCenter to be implemented on Guidewire Cloud.
“Modern technology is heading to the cloud and that’s where Guidewire’s product roadmaps and future commitments are focused.
“By leveraging Guidewire Cloud, Guidewire will be maintaining our systems to keep us current on their latest technology and product innovations so our staff can stay focused on the activities that will deliver value to our agents and customers while also utilising new capabilities in our business as they become available sooner rather than months or years later.”
Established partners with established
Based in Omaha, Nebraska, NICO is part of mogul Warren Buffet's Berkshire Hathaway group of insurance companies, and is, in fact, the oldest member of the group being established over 80 years ago.
Specialising in commercial auto and general liability insurance, the insurer boasts a financial strength rating of A++XV from A.M. Best.
Fully partnering with Guidewire, NICO represents a forward-thinking legacy insurer taking the necessary steps on the path to greater digitisation, among other industry players condemned for their slow technological uptakes.
Guidewire President and Chief Revenue Officer, John Mullen, adds: “We have enjoyed a great partnership with NICO. The alignment of our intentions and strategic focus on driving insurance outcomes provides a great backdrop for this next chapter of our relationship.
“We look forward to helping them continue their mission of offering one of the widest selections of commercial insurance products in the industry to agents and customers.”
******
For more insights from InsurTech Digital, you can see our latest edition of the InsurTech Digital here, or you can follow us on LinkedIn and Twitter.
You may also be interested in our sister site, FinTech Magazine, which you can also follow on LinkedIn and Twitter.
Please also take a look at our upcoming virtual event, InsurTech LIVE, coming on 18th-19th October 2023.
******
BizClik is a global provider of B2B digital media platforms that cover Executive Communities for CEOs, CFOs, CMOs, Sustainability Leaders, Procurement & Supply Chain Leaders, Technology & AI Leaders, Cyber Leaders, FinTech & InsurTech Leaders as well as covering industries such as Manufacturing, Mining, Energy, EV, Construction, Healthcare + Food & Drink.
BizClik – based in London, Dubai, and New York – offers services such as Content Creation, Advertising & Sponsorship Solutions, Webinars & Events.
