ABBOTT SQAURE Universal -ii Guide Wire, Color : Blue

Universal Group, Inc. (Universal), a Commercial and Personal lines carrier with operations in Puerto Rico and the United States, and Guidewire Software, today announced that Universal has selected Guidewire InsuranceSuite™ to support transforming its core operations including underwriting, policy administration, rating, billing, and claims management. Universal will begin Phase I of its transformation project by deploying all three Guidewire core systems simultaneously for its Commercial and Personal Auto lines of business. Universal has teamed with Guidewire PartnerConnect™ alliance member, PwC US, and Guidewire for the implementation.
“Guidewire InsuranceSuite will enable us to grow our business quickly and efficiently,” said Monique Miranda, chief executive officer and president, Universal Insurance Company. “We will also be able to apply industry best practices to our processes, refining them where needed to ensure that we continue to provide the fast and reliable service our agents and insureds expect from us.”

Universal will use InsuranceSuite to:

• Enable its strategy of expanding its product footprint and regional areas served;

• Accelerate time to market with improved rating, underwriting, and new business capabilities;

• Improve efficiency of core operations including first notice of loss (FNOL), claims handling, policy administration, and billing; and

• Significantly lower IT costs by reducing its applications portfolio.