news Consulting company Capgemini this week announced that it has successfully implemented a new cloud-based system to deliver a complete outsourced core insurance platform for the New South Wales Self Insurance Corporation (SICorp).
The first of its kind, this contract has created a platform-as-a-service deployment by Capgemini in Australia, which enables SICorp to configure, build, host and run its Home Warranty Billing, Policy and Claims Solution using Guidewire InsuranceSuite built on Amazon Web Services (AWS). SICorp is the government agency that provides home warranty protection to home owners in NSW.
According to a statement issued by Capgemini, this platform gives SICorp the ability to leverage the cloud platform to streamline its processes, increase service levels and improve overall efficiencies. This platform will also be able to interface with SICorp’s data warehouse, for portfolio reporting and to enable its stakeholder partners to have secure access to essential transaction processing.
The platform as a service brings claims, policy administration, and billing capabilities to small to mid-sized carriers and removes the need to have IT infrastructure on-premises. Guidewire InsuranceSuite is a complete set of core operational systems that help Property/Casualty insurers adapt and succeed in a time of rapid industry change. This platform is the first inaugural production deployment of Guidewire InsuranceSuite on AWS.
Manoj Khera, Senior Vice President and Managing Director – Sectors and Marketing for Capgemini Australia said: “This implementation reinforces Capgemini’s leadership in providing innovative, results-driven outcomes in the Public and Financial Services sectors. By combining our expertise and industry know-how with the leading edge solutions from our partner ecosystem, we are able to achieve sustainable results for our clients.”
Khera added: “We are excited to be seeing our first full suite implementation here in Australia that will deliver the best in class billing, policy and claims solution and to deliver on improved business performance.”
The platform, being hosted on AWS, provides SICorp with high availability and scalability aligning with the state government’s Cloud First Policy, by providing significant operational flexibility and access to a new cloud-based platform where SICorp can provide critical data accurately and in a timely way to its stakeholders in the government and private sectors.
Stefan Jansen, Head of Channels and Alliances, AWS Australia and New Zealand, said: “Our customers are continually looking to take advantage of the benefits of the AWS cloud to not only reduce costs but to become more agile and innovative. That applies to the public sector in Australia as much as it does to private industry and we are delighted to be working closely with Capgemini to deliver the scalability and flexibility SICorp requires.”
Fascinating to see a significant financial services deployment on Amazon’s commodity cloud computing infrastructure. It definitely appears as though Australia’s financial services sector is strongly embracing the cloud at this point.