PJSC ROSGOSSTRAKH (RGS), the largest insurer in Russia, and Guidewire Software, Inc. (NYSE: GWRE), provider of the industry platform general insurers rely upon, today announced that RGS is successfully deploying additional Guidewire Core and Digital applications to further modernize its infrastructure, boost operational efficiencies, and enhance user experience. All RGS sales offices are now using Guidewire PolicyCenter to sell and service casco (voluntary motor insurance) products, with further deployment planned to its agency network, comprising many thousands of agents. By the end of this summer, it is anticipated that all the sale of compulsory third party motor liability insurance (MTPL) will be transferred to the new policy platform; meaning the migration of all motor business.
RGS, the oldest Russian insurer (celebrating its 100th anniversary in 2021), was Guidewire's first customer in Russia and has already successfully deployed Guidewire ClaimCenter for its large-scale claims settlement system. As part of that ongoing collaboration, RGS is now implementing Guidewire PolicyCenter, Guidewire BillingCenter, Guidewire Client Data Management, and Guidewire ProducerEngage. This deployment will support more efficient use of RGS's huge array of customer data, and provide customers and agents with a seamless, omnichannel digital experience.
"We have selected PolicyCenter as our primary system for product management and policy administration after a thorough market analysis, due its flexibility and reliability," said Philipp Maizenberg, Member of the Management Board of PJSC IC RGS, responsible for IT. "Choosing Guidewire as a partner to support our current transformation programme, we also considered our previous experience in the successful implementation and operation of ClaimCenter."
The increased utilisation of Guidewire is enabling RGS to provide its agents and office sales forces with the following enhanced business processes:
Client centricity as standard - client first, contract second; More active use of paperless processes; Convenient and technology driven payment methods; and Intuitive and modern user interfaces.
"We have a very ambitious business strategy and very aggressive key performance indicators, so we plan to build a 'product factory' that will leverage Guidewire's flexibility in product configuration," explained Elena Belousenko, Management Board Member, who oversees the retail business of RGS. "This will allow us to be more adaptable and responsive to the changing requirements of insurance agents and customers."
"Our Guidewire implementation represents a comprehensive business transformation programme," said Gennady Galperin, General Director of PJSC IC RGS. "I am sure that this is the right investment to prepare Rosgosstrakh for the next century in its successful development, because an innovative and flexible IT architecture is one of the key business structure elements an insurer must have in the 21st century market."
"We are grateful that Rosgosstrakh have put their trust in Guidewire to power their ongoing transformation," said Keith Stonell, managing director, EMEA, Guidewire Software. "We applaud RGS's leaders for their focus on achieving and maintaining a sustainable competitive advantage by delivering high quality insurance products to their millions of customers."
PJSC IC Rosgosstrakh is the flagship of the Russian insurance market. There are more than 1,500 regional offices and 300 claim centres. The company employs about 50,000 employees and tied agents.
Rosgosstrakh is part of the Otkritie Bank group. On 6 October 2020, Rosgosstrakh will celebrate 99 years from the date of its creation. www.RGS.ru.
About Guidewire Software
Guidewire delivers the industry platform that general insurers rely upon to adapt and succeed in a time of accelerating change. We provide the software, services, and partner ecosystem to enable our customers to run, differentiate, and grow their business. As of the end of our fiscal year 2019, we are privileged to serve more than 380 companies in 34 countries. For more information, please visit www.guidewire.com and follow us on twitter: @Guidewire_PandC.
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