SOURCE: 1insurer


April 14, 2016 08:00 ET

1insurer Congratulates GuideOne for Celent Model Insurer Win

WHITELEY, UK and FARMINGTON, CT--(Marketwired - April 14, 2016) - 1insurer, global provider of software to the property and casualty (P&C) insurance sector, is pleased to congratulate GuideOne Insurance (GuideOne) for recognition by Celent, a global research and advisory firm for the financial services industry, as a 2016 Model Insurer for exemplary work in legacy and ecosystem transformation.

The award recognizes GuideOne's comprehensive transformation of the products and technology which served as the basis for the company's personal lines business. The project, PL PAS 2.0 (Personal Lines Policy Administration System 2.0), involves launching entirely new premier auto, standard auto, and non-standard auto, as well as home, renter and umbrella products, through the use of 1insurer's 1insurer Policy, which GuideOne internally christened the LifeStages program. The LifeStages program is being deployed incrementally, and is currently live in five states with an expanded rollout in process. This success is especially significant considering GuideOne simultaneously launched a new enterprise claims system and is in the process of launching a commercial lines policy administration system.

While most insurance companies focus on improving the bottom line to satisfy shareholder demands, GuideOne's vision transformed the company's insurance products into a vehicle for supporting the causes of non-profit and faith-based organizations. With the new system and new products in place, GuideOne launched the Affinity Connections program and related Affinity discounts to develop and further support relationships with members of non-profit and faith-based organizations. Additionally, the company launched a customer-facing "Drive for a Cause" telematics program to reinforce the concept that cooperation can make the world a better place.

Since implementation, GuideOne has brought more than 800 agents active in the new system, and has established a new home office team to write direct business. Previously, GuideOne underwriters reviewed 100 percent of auto and home policies before binding, and through the use of 1insurer's 1insurer Policy, GuideOne now delivers real-time automated underwriting, with approximately 80 percent straight-through processing (STP) of new business. Additionally, GuideOne has experienced a surge in new business, reflecting the effect of the new system and products.

"We are delighted to be working with GuideOne to transform their personal lines business using our 1insurer Policy and billing and integrated agent portal to launch the LifeStages auto products across new states and with new channels," said Euan King, president of 1insurer North America.

Celent's annual Model Insurer Awards recognize the best practices of technology usage in different areas critical to success in insurance. Nominations are submitted by financial institutions and technology vendors, and undergo a rigorous evaluation process by Celent analysts. Celent judges submissions on three core criteria: Initiatives must be live and delivering demonstrable business benefits; the degree of innovation relative to the industry; and the quality of the technology or implementation excellence.

"The Model Insurer Awards recognize how insurers are using technology to change the face of the industry," said Colleen Risk, senior analyst for Celent. "These insurers should serve as an inspiration to others looking for strong examples of best practice implementation that will have a truly meaningful impact on business results and the industry overall. The entry from GuideOne clearly demonstrated this."

GuideOne was honored for this transformation initiative at the Celent Insight & Innovation Day held on Wednesday, April 13 in New York City.

About 1insurer

1insurer is a global provider of software-led solutions to insurers for more effective policy and claims management. Part of Carlyle Group, a global alternative asset manager with $188 billion of assets under management, the 1insurer Suite is operating in 8 of the top 10 global insurance markets across 4 continents. In every market, 1insurer's technology empowers insurers to deliver better, faster results, making us the global partner of choice for locally delivered insurance solutions.



Contact Information

  • Inquiries:

    Americas PR Agency Contact:

    Jennifer Overhulse
    Principal Owner 
    St. Nick Media Services 
    Tel: 859.803.6597

    UK PR Contact:

    Paul Hughes
    VP Product Marketing 
    1insurer Global CMO Team 
    Tel: 07793 167 266