Hartford Steam Boiler Deploys Guidewire System for Claims Management

Global specialty insurer now in production with Guidewire ClaimCenter(R) — on time and under budget

HARTFORD, Conn. & FOSTER CITY, Calif.--(BUSINESS WIRE)--August 01, 2014-- 

The Hartford Steam Boiler Inspection and Insurance Company (HSB), a
leading engineering and technical risk insurer, and Guidewire Software,
Inc. (NYSE:GWRE), a provider of software products to Property/Casualty
(P/C) insurers, today announced that HSB has successfully deployed
Guidewire ClaimCenter(R) as its new platform for claims management.

HSB, a part of Munich Re, sought a system that would give the company
the flexibility and functionality to support the growth of its personal
lines business and core commercial specialty insurance practice. The
company also wanted to provide adjusters a tool that would increase both
efficiency and proficiency, as well as support its commitment to
delivering high levels of customer service.

HSB is currently in production with ClaimCenter across all of its
personal and commercial lines of business in the US. ClaimCenter was
deployed on time, and the implementation came in under budget. Moving
forward, HSB plans to explore ways to leverage the system for global
business.

“Research shows that a reputation for high-quality claims service is
among the top factors customers consider in selecting a specialty
insurance provider,” said Wade Bolin, senior vice president, Claims,
HSB. “Deploying ClaimCenter as our new claims system is part of our
claims transformation strategy to ensure that HSB will continue to set
the standard for service excellence in specialty insurance.”

ClaimCenter is enabling HSB to:

   -- Deliver timely communications across the lifecycle of a claim for better 
      customer service; 
 
   -- Integrate with third-party systems for a more seamless claims handling 
      approach; and 
 
   -- Gain better insight into claims operations to drive process and service 
      improvements. 

“Our team has been very satisfied with ClaimCenter from day one,”
continued Bolin. “We are eager to exploit the capabilities of
ClaimCenter, and we’re very happy with the operational efficiency,
technical proficiency and customer service gains ClaimCenter is enabling
thus far.”

“We congratulate HSB on their successful ClaimCenter implementation,”
said Mike Polelle, chief customer officer, Guidewire Software. “We
applaud HSB’s dedication to continuously improving their business, and
we look forward to continuing to support them on their business
transformation journey.”

Guidewire ClaimCenter(R) is a leading end-to-end claims management
system, built from the ground up to meet the specific needs of today’s
Property/Casualty insurers. ClaimCenter’s flexible business rules enable
claims organizations to define, enforce, and continually refine their
preferred claim handling practices in order to optimize and monitor
their claim processes. ClaimCenter is in use by insurers of all sizes
across all product lines to improve speed and accuracy, reduce loss
adjustment expense, and enable proactive management of claims.
ClaimCenter is available as a standalone system or as part of Guidewire
InsuranceSuite(TM), and can be integrated to an insurer’s legacy systems
or third party applications.

About HSB

Hartford Steam Boiler (HSB), a member of Munich Re’s Risk Solutions
family since 2009, is a leading engineering and technical risk insurer
providing equipment breakdown insurance products, other specialty
coverages, and related inspection services and engineering consulting.
Founded in 1866, HSB’s difference is grounded in extensive technical
knowledge with over 50 percent of its staff engineers, inspectors and
technical personnel around the globe. We leverage our knowledge to
anticipate future risks and develop a range of specialized solutions
that enable our clients to build deeper and more profitable customer
relationships. HSB holds A.M. Best Company’s highest financial rating,
A++ (Superior). www.hsb.com.

About Munich Re

In the U.S., Munich Re provides access to a full range of property and
casualty reinsurance and specialty insurance products through Munich
Reinsurance America, Inc., American Modern Insurance Group and Hartford
Steam Boiler Group. Munich Re stands for exceptional solution-based
expertise, consistent risk management, financial stability and client
proximity. This is how Munich Re creates value for clients, shareholders
and staff. In the financial year 2013, the Group — which combines
primary insurance and reinsurance under one roof — achieved a profit of
EUR3.3bn on premium income of over EUR51bn. It operates in all lines of
insurance, with almost 45,000 employees throughout the world. With
premium income of around EUR28bn from reinsurance alone, it is one of
the world’s leading reinsurers. Especially when clients require
solutions for complex risks, Munich Re is a much sought-after risk
carrier. Its primary insurance operations are concentrated mainly in the
ERGO Insurance Group, one of the major insurance groups in Germany and
Europe. ERGO is represented in over 30 countries worldwide and offers a
comprehensive range of insurances, provision products and services. In
2013, ERGO posted premium income of EUR18bn. In international healthcare
business, Munich Re pools its insurance and reinsurance operations, as
well as related services, under the Munich Health brand. Munich Re’s
global investments amounting to EUR209bn are managed by MEAG, which also
makes its competence available to private and institutional investors
outside the Group.

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