|By Business Wire||
|June 27, 2014 01:00 AM EDT||
Tinkoff Online Insurance, a direct-to-consumer insurer and part of TCS Group Holding PLC (LSE: TCS), and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to general insurers, today announced that Tinkoff Online Insurance has successfully deployed Guidewire InsuranceSuite™ as its underwriting, policy administration, billing and claims management platform. The company is also leveraging the Guidewire Rating Management™ and Client Data Management modules.
Tinkoff Online Insurance selected and deployed InsuranceSuite as the technology platform on which to grow its business. The rapid implementation, which involved some complex integrations, began in September 2013 and first went live in February 2014. Tinkoff is currently using InsuranceSuite for its personal property, personal accident, and travel lines of business.
“We believe that having all three systems from the same vendor in an integrated suite is a tremendous benefit for us,” said Fedor Voronin, chief operating officer, Tinkoff Online Insurance. “Guidewire PolicyCenter, BillingCenter, and ClaimCenter are strong as individual systems, but together they provide even more benefits for us, including flexibility for business growth and enhanced customer service capabilities.”
InsuranceSuite is enabling Tinkoff Online Insurance to:
- Bring new products to market quickly, allowing the company to grow efficiently and profitably;
- Develop and execute best practices to help it deliver high levels of service to its customers;
- Grow its business on a modern technology platform designed for enhancing flexibility and upgradeability; and
- Establish operational efficiency through automation across underwriting, policy administration, billing, and claims management processes.
“We congratulate Tinkoff Online Insurance, our first InsuranceSuite customer in Russia, on their successful deployment of Guidewire InsuranceSuite,” said Keith Stonell, managing director, EMEA, Guidewire Software. “We admire Tinkoff Online Insurance's rapid deployment of InsuranceSuite and the speed with which they have been able to launch products in the market.”
Guidewire InsuranceSuite powers the mission-critical operations of property/casualty insurers competing in today’s market. The suite was designed using a modular approach, enabling insurers to select individual applications — Guidewire PolicyCenter®, Guidewire BillingCenter® and Guidewire ClaimCenter®— or a pre-integrated set, driven by their requirements and priorities. InsuranceSuite provides the flexibility insurers need to deliver insurance the way they want to, by rapidly delivering better products and service to their policyholders and agents, while improving underwriting discipline and lowering operational costs.
About Tinkoff Online Insurance
Tinkoff Online Insurance is an innovative provider of online retail insurance services and is part of TCS Group Holding PLC together with Tinkoff Credit Systems bank. Tinkoff Online Insurance has developed its proprietary and highly advanced IT platform and leveraged the vast expertise of TCS Bank in building innovative financial services businesses to provide a wide range of services to Russian consumers, including a customized choice of insurance products, and a convenient claims settlement and sales process, which can be done online from anywhere in Russia. The new online insurance products will be delivered according to the Group's traditionally high customer service standards.
Tinkoff Online Insurance offers personal accident, property and travel insurance services. During 2014, the Group expects to add motor insurance to its product portfolio.
About Guidewire Software
Guidewire builds software products that help Property/Casualty insurers replace their legacy core systems and transform their business. Designed to be flexible and scalable, Guidewire products enable insurers to deliver excellent service, increase market share and lower operating costs. Guidewire InsuranceSuite™ provides the core systems used by insurers as operational systems of record. Additional products provide support for data management, business intelligence, anytime/anywhere access and guidance and monitoring. More than 150 Property/Casualty insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite, Guidewire PartnerConnect, Guidewire SolutionConnect, Guidewire Live, Live Inside, Before & After, Claim Canvas, Viewpoint, Deliver Insurance Your Way, and the Guidewire logo are trademarks, service marks, or registered trademarks of Guidewire Software, Inc. in the United States and/or other countries.
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