Radian Selects Guidewire Solution for Underwriting, Rating, Policy Administration, Billing, and Claims Management
Guidewire InsuranceSuite™ to help private mortgage insurer enhance operational efficiencies, increase agility, and consolidate multiple platforms
Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc. (NYSE: RDN), and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty insurers, today announced that Radian has selected Guidewire InsuranceSuite™ as its new platform for underwriting, rating and policy administration, claims management, and billing. The company also selected Guidewire Client Data Management™ to help give it a comprehensive customer view across underwriting, policy administration, claims, and billing processes. Guidewire PartnerConnect™ alliance member, Capgemini, has been selected to lead the implementation project, with Guidewire working in close collaboration.
Radian selected Guidewire’s InsuranceSuite in order to expedite underwriting turn times, reduce complexities caused by multiple platforms, and enhance its business and technology capabilities.
“In addition to the business and IT benefits we know Guidewire InsuranceSuite will bring to us, we selected InsuranceSuite because the governing principles of how Guidewire has architected its software have remained intact since 2002,” said Lawrence DelGatto, Radian’s executive vice president and chief information officer. “We were impressed with the way that Guidewire’s software was developed which allows it to be easily customized and integrated with external partners, suppliers and other market solutions for a streamlined insurance experience.”
“We are pleased to welcome Radian to the Guidewire family as an InsuranceSuite customer,” said Dan Gordon, vice president, Product Management, Guidewire Software. “We recognize Radian’s commitment to operational speed and efficiency and look forward to helping them achieve their objectives.”
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.
Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance and related risk mitigation products and services to mortgage lenders nationwide through its principal operating subsidiary, Radian Guaranty Inc. These services help promote and preserve homeownership opportunities for homebuyers, while protecting lenders from default-related losses on residential first mortgages and facilitating the sale of low-down payment mortgages in the secondary market. Additional information may be found at www.radian.biz.
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