Latest news with #HDIGlobal
Yahoo
22-04-2025
- Business
- Yahoo
Insurtech company Guidewire to invest $60m in Japanese operations
Guidewire has revealed plans to invest $60m over the next five years to expand its operations in Japan, aiming to speed up the delivery of products and services for Japanese insurers. This initiative is expected to support insurers in achieving profitable growth, business and IT agility, and regulatory compliance, the insurtech company said in a statement. Additionally, it is anticipated to strengthen the company's local team and ecosystem development in response to growing demand for cloud-based core systems. Since 2008, Guidewire has been operating in Japan and serves more than ten Japanese insurance companies, including Tier 1 insurers. The company also said that more than 60% of the country's insurance gross written premium (GWP) is processed via Guidewire's ClaimCenter. Furthermore, Guidewire has made enhancements to its PolicyCenter and BillingCenter products. These enhancements are designed to better support Japanese insurers with new features such as policy change reversals, proration and effective time. Additionally, there will be localised support for the Japanese language, documentation and training. Guidewire is actively developing additional capabilities targeted at the Japanese insurance market. These include pre-built integrations for personal auto insurance, expected to be available by mid-2026, and expanded features for homeowner, earthquake and commercial group policies, slated for 2027. Guidewire CEO Mike Rosenbaum said: 'Over the next five years, we plan to invest more than $60m to enhance our end-to-end cloud platform in Japan with powerful innovations like AI – helping our customers boost underwriting precision, accelerate speed to market and operate with increasing agility.' Guidewire Asia-Pacific managing director and senior vice-president Shaji Sethu stated: 'Japan is a key market for Guidewire, and we are committed to helping our customers transform their operations to stay competitive in an evolving landscape. 'Our goal is to drive measurable improvements in speed-to-market, underwriting effectiveness and operational efficiency, empowering insurers to meet the rising expectations of both customers and regulators. We plan to do this by growing our team in Japan.' Last month, HDI Global Insurance Company, the US division of HDI Global, selected Guidewire PolicyCenter as its new platform for policy administration and underwriting. "Insurtech company Guidewire to invest $60m in Japanese operations " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
29-03-2025
- Business
- Yahoo
HDI Global Insurance taps Guidewire for policy administration
HDI Global Insurance Company (HGIC), the US unit of HDI Global, has chosen Guidewire PolicyCenter as its new policy administration and underwriting platform. The upgrade to PolicyCenter will be executed on Guidewire Cloud, starting with the general liability business line. Ernst & Young (EY US), a member of the Guidewire PartnerConnect Consulting Global Strategic programme, will spearhead the deployment. HGIC chief underwriting officer Marco Hensel said: 'We selected PolicyCenter on Guidewire Cloud because Guidewire has the modern, resilient, scalable and secure platform and market leadership, cloud and product maturity, and track record of successful implementation projects that we were looking for. PolicyCenter will impact our combined ratio over time through better, smarter underwriting, while reducing cost through increased efficiencies.' HGIC chief information and transformation officer Kashif Syed stated: 'Guidewire's advanced technology platform will empower HDI U.S. to streamline policy management processes, enabling us to deliver faster and more accurate services to our clients. With Guidewire handling system maintenance, we can stay current on their technology and shift our resources to tasks that will deliver value to our employees, brokers and policyholders.' In 2024, HDI Global generated insurance revenues of €10bn ($10.78bn), up 10% from a year ago. The company's operating profit for the year was €702m, an increase from €446m recorded in the previous year. Last month, Amerisure Insurance also deployed Guidewire PolicyCenter, along with BillingCenter, on Guidewire Cloud, with PwC serving as the lead partner in the implementation. "HDI Global Insurance taps Guidewire for policy administration " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
28-03-2025
- Business
- Yahoo
HDI Global Insurance taps Guidewire for policy administration
HDI Global Insurance Company (HGIC), the US unit of HDI Global, has chosen Guidewire PolicyCenter as its new policy administration and underwriting platform. The upgrade to PolicyCenter will be executed on Guidewire Cloud, starting with the general liability business line. Ernst & Young (EY US), a member of the Guidewire PartnerConnect Consulting Global Strategic programme, will spearhead the deployment. HGIC chief underwriting officer Marco Hensel said: 'We selected PolicyCenter on Guidewire Cloud because Guidewire has the modern, resilient, scalable and secure platform and market leadership, cloud and product maturity, and track record of successful implementation projects that we were looking for. PolicyCenter will impact our combined ratio over time through better, smarter underwriting, while reducing cost through increased efficiencies.' HGIC chief information and transformation officer Kashif Syed stated: 'Guidewire's advanced technology platform will empower HDI U.S. to streamline policy management processes, enabling us to deliver faster and more accurate services to our clients. With Guidewire handling system maintenance, we can stay current on their technology and shift our resources to tasks that will deliver value to our employees, brokers and policyholders.' In 2024, HDI Global generated insurance revenues of €10bn ($10.78bn), up 10% from a year ago. The company's operating profit for the year was €702m, an increase from €446m recorded in the previous year. Last month, Amerisure Insurance also deployed Guidewire PolicyCenter, along with BillingCenter, on Guidewire Cloud, with PwC serving as the lead partner in the implementation. "HDI Global Insurance taps Guidewire for policy administration " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
26-03-2025
- Business
- Yahoo
HDI Global insurance revenue up 10% in 2024
HDI Global, the Corporate & Specialty Division of Talanx Group, has reported insurance revenue of €10bn for 2024, an increase of 10% compared with the previous year. HDI Global's contribution to the Talanx Group's net income also increased, reaching €501m for the year, compared with €351m in 2023. Meanwhile, Talanx itself reported group net income of €1.9bn in 2024, a 25% surge from the previous year. The insurer's operating profit for the year totalled €702m, compared with €446m a year earlier. It also saw an uplift in return on equity to 17.6%, a rise of 3.3 percentage points. The company's financial success in 2024 has been attributed to the expansion of new business and inflation-related price adjustments on existing contracts. Additionally, the insurer reported a combined ratio of 90% for the year in 2024 as against 91.5% in 2023. The company's insurance service result reached €1bn in 2024 from €770m in 2023, supported by a better loss ratio for frequency losses. Large loss payments rose to €402m from €334m in 2023, but the figures stayed below the projected €468m, primarily due to a reduction in man-made losses. Nevertheless, the budget for natural catastrophe (NatCat) losses was exceeded, the company said. The net insurance financial and investment result before currency effects improved to €83m, driven by 'higher investment volumes' and an uptick in current interest income. HDI Global SE CEO Edgar Puls said: 'Our positive results enable us to act as our clients' and brokers' preferred and reliable Partner in Transformation. For this, we aim to be financially strong for decades to come.' 'These strong figures for 2024 are our basis to continue acting as a leading one-stop shop for all our clients. Strategically, HDI Global's risk diversification is strong, enabling us to be a stable, predictable and reliable partner. I am proud to say that we achieved these full-year results through profitability in all regions of the world.' Commenting on the middle-market expansion, HDI Global Asia-Pacific head and Australia managing director Stefan Feldmann stated: 'For 2025, we see substantial growth opportunities in the Mid-Market space, which we perceive to be under-represented for HDI, but our broker partners show a great interest in working with us as we offer a refreshingly different approach to this segment.' "HDI Global insurance revenue up 10% in 2024 " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
26-03-2025
- Business
- Yahoo
HDI Global insurance revenue up 10% in 2024
HDI Global, the Corporate & Specialty Division of Talanx Group, has reported insurance revenue of €10bn for 2024, an increase of 10% compared with the previous year. HDI Global's contribution to the Talanx Group's net income also increased, reaching €501m for the year, compared with €351m in 2023. Meanwhile, Talanx itself reported group net income of €1.9bn in 2024, a 25% surge from the previous year. The insurer's operating profit for the year totalled €702m, compared with €446m a year earlier. It also saw an uplift in return on equity to 17.6%, a rise of 3.3 percentage points. The company's financial success in 2024 has been attributed to the expansion of new business and inflation-related price adjustments on existing contracts. Additionally, the insurer reported a combined ratio of 90% for the year in 2024 as against 91.5% in 2023. The company's insurance service result reached €1bn in 2024 from €770m in 2023, supported by a better loss ratio for frequency losses. Large loss payments rose to €402m from €334m in 2023, but the figures stayed below the projected €468m, primarily due to a reduction in man-made losses. Nevertheless, the budget for natural catastrophe (NatCat) losses was exceeded, the company said. The net insurance financial and investment result before currency effects improved to €83m, driven by 'higher investment volumes' and an uptick in current interest income. HDI Global SE CEO Edgar Puls said: 'Our positive results enable us to act as our clients' and brokers' preferred and reliable Partner in Transformation. For this, we aim to be financially strong for decades to come.' 'These strong figures for 2024 are our basis to continue acting as a leading one-stop shop for all our clients. Strategically, HDI Global's risk diversification is strong, enabling us to be a stable, predictable and reliable partner. I am proud to say that we achieved these full-year results through profitability in all regions of the world.' Commenting on the middle-market expansion, HDI Global Asia-Pacific head and Australia managing director Stefan Feldmann stated: 'For 2025, we see substantial growth opportunities in the Mid-Market space, which we perceive to be under-represented for HDI, but our broker partners show a great interest in working with us as we offer a refreshingly different approach to this segment.' "HDI Global insurance revenue up 10% in 2024 " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
