Guidewire to help Hastings rival Admiral with major new 2018 product

Hastings plans to roll out a multi-car proposition this year, according to chairman Gary Hoffman today. 

Hoffman, speaking in the 2017 results, said there will be ’the launch of a new multicar proposition in 2018 which will be enabled by the implementation of Guidewire.’

The multi-car product has been a big success story for Admiral, but other insurers have latched onto the concept and now Hastings will roll it out this year.

Hoffman said Guidewire, in addition to other software investment, would bolster the business across many areas. 

”Guidewire is a market leading software that supports claims, broking and billing in an integrated platform. We have also invested in additional software components to increase the ability of our customers to self-serve through digital engagement.

”Improvements for our customers and our colleagues include reducing the claims lifecycle, more informed pricing, and enhancing our customer services by providing a 24/7 online self-service portal.

”We have realised significant benefits following the launch of the claims module, and continue to improve and enhance the system based on colleague feedback and customer experience.

”We are following a staged roll out of the broker platform and all major PCW were live on Guidewire for private car insurance by the end of 2017.

“In addition, we have commenced migrating our private car insurance renewals business to Guidewire. It will enable efficiencies that will deliver value and provide a platform for future growth.”

Elsewhere in the business, Hastings has a new chief executive for 2018 in Toby Van Der Meer. 

Hoffman, who exited the CEO role for chairman, said Van Der Meer was ’a natural successor to take Hastings forward to the next stage of its journey.’