LV= turns to Guidewire in 'largest transformation the business has ever undertaken'

 LV= General Insurance (LV= GI), one of the UK’s largest personal lines insurers, has successfully deployed Guidewire Core and Data solutions.

The transformation took two and a half years to be completed and is believed to be ”the largest transformation the business has ever undertaken” according to a Guidewire press release.

LV= GI has now completely replaced its core legacy systems and implemented multiple new products, including Guidewire PolicyCenter™, Guidewire BillingCenter™, and Guidewire DataHub™ for underwriting, policy administration, billing management, and data management.

It is now selling all motor and home insurance products on the new platform, as well as migrating all their existing customers.

IT delivery director for LV= GI, Gavin Drescher said: “We are really pleased to have successfully transformed our business using Guidewire InsurancePlatform™.

“We have simplified many of our core transactional processes, making us more efficient and productive, while at the same time reducing operating expenses. On the new system, we have also successfully launched a number of new products, and integrated our new rating and customer fulfillment capabilities.

“All of this has made it much easier for our customers to do business with us which, in turn, has resulted in our customer satisfaction scores improving significantly.”

Sheridon Glenn, vice president of field consulting for professional services at Guidewire Software, said: “We congratulate LV= on their successful deployment of Guidewire Core and Data products.

“Already a long-standing Guidewire ClaimCenter™ customer, we are gratified they chose to extend their relationship with us, and that InsurancePlatform is enabling them to provide the high-quality and flexible service their customers expect.”

Guidewire says the new, extended partnership allows LV= to train employees to do more for customers, reduce operational expenses while improving customer experience, boost call centre efficiency and monitor business performance across both legacy and new platforms.