Jewelers Mutual Deploys Guidewire For Underwriting, Policy Administration, Billing and Claims Management
Jewelers Mutual Insurance Company (“Jewelers Mutual”), the only company
specializing exclusively in jewelry insurance in North America, and
Guidewire Software, Inc. (NYSE: GWRE), a provider of flexible, core
system software to Property/Casualty insurers, today announced that
Jewelers Mutual has successfully deployed Guidewire InsuranceSuite™ as
its new underwriting, policy administration, billing and claims platform
for its Personal Lines business. Jewelers Mutual’s implementation also
leverages the Guidewire Rating Management and Client Data Management
modules. Guidewire PartnerConnect™ alliance member,
PricewaterhouseCoopers, led the implementation project and worked in
close collaboration with Jewelers Mutual and Guidewire Software.
As part of a company-wide business transformation, Jewelers Mutual
selected InsuranceSuite to provide a strong technology platform to
increase its flexibility and operational efficiency and keep pace with
business growth and demands for continuous improvement and system
enhancements. Concurrent with its InsuranceSuite deployment, Jewelers
Mutual installed a new data warehouse, reporting solution, and document
production system, upgraded its document management solution, and also
rebranded its Personal Lines program. Additionally, the company built
and deployed a new eCommerce system that is integrated into
InsuranceSuite and allows for the sale of insurance products when
jewelry is purchased. Jewelers Mutual won a Guidewire
Innovation Award for this extension of functionality in October 2012.
Beginning its transformation project by implementing InsuranceSuite
systems simultaneously for its Personal Lines business, Jewelers Mutual
is currently in production with Guidewire InsuranceSuite in all of the
50 United States and in 9 Canadian provinces (all provinces except for
Quebec). Jewelers Mutual is in the process of implementing its
Commercial Lines operations on the same InsuranceSuite platform.
“We found a great partner in Guidewire,” said Joel Matthies, chief
information officer, Jewelers Mutual. “We faced a high level of
complexity due to our previous systems and the need to implement all
three systems within InsuranceSuite at the same time. We truly believe
we wouldn’t have been as successful if we hadn’t been working with
Guidewire on this business transformation.”
“The high quality of the Guidewire team and their expertise contributed
to a smooth implementation process,” continued Matthies.
“We are looking forward to the benefits of having our core systems on
one cohesive platform,” stated Matthies. “The fact that they are
pre-integrated and built with a high level of integration to work with
our other systems is very beneficial for us and has enabled us to more
quickly experience the benefits they provide.”
InsuranceSuite is enabling Jewelers Mutual to:
-
Achieve the agility needed to expand its product portfolio into new
geographic regions;
-
Increase the productivity of its current staff to limit the amount of
onboarding needed while maintaining growth;
-
Make product changes quickly to increase responsiveness to the market;
and
-
Enhance operational efficiency across the organization by
standardizing policy administration, billing management, and claims
handling processes on a common platform.
“We are proud of our successful implementation of Guidewire
InsuranceSuite, a major milestone in our ongoing business
transformation,” said Darwin Copeman, president and chief executive
officer, Jewelers Mutual. “We are already receiving several benefits
from InsuranceSuite, and we are confident that we now have a platform
that will help us meet our current and future IT and business goals.”
“We congratulate Jewelers Mutual on successfully implementing Guidewire
InsuranceSuite,” said Marcus Ryu, chief executive officer, Guidewire
Software. “We applaud their dedication to continuously improving an
already successful business. InsuranceSuite will help support the
company’s plans for additional growth.”
Guidewire InsuranceSuite powers the mission-critical operations of
property/casualty insurers competing in today’s market. The suite was
designed using a modular approach, enabling insurers to select
individual applications -- Guidewire PolicyCenter®, Guidewire
BillingCenter®, and Guidewire ClaimCenter® -- or a pre-integrated set,
driven by their requirements and priorities. InsuranceSuite provides the
flexibility insurers need to deliver insurance the way they want to, by
rapidly delivering better products and service to their policyholders
and agents, while improving underwriting discipline and lowering
operational costs.
About Jewelers Mutual
Jewelers Mutual Insurance Company is the only company specializing
exclusively in jewelry insurance in the United States and Canada. The
company's strong financial position is reflected in its 26 consecutive
ratings of “A+ Superior” from A.M. Best. Jewelers Mutual was founded in
1913 in Neenah, Wisconsin, by jewelers seeking to meet their unique
insurance needs. Today, Jewelers Mutual is the leading insurer of retail
jewelers in North America and also insures wholesalers, manufacturers,
custom designers, repair businesses, bench jewelers, and appraisers.
Approximately 10,000 commercial policyholders insure their jewelry
businesses with Jewelers Mutual. Additionally, more than 270,000
individuals trust Jewelers Mutual to protect their jewelry possessions
with Jewelers Mutual’s Perfect Circle® insurance product. These
individuals collectively carry in excess of $3 billion in personal
insurance coverage. Visit the Jewelers Mutual website at www.JewelersMutual.com
to learn more.
About Guidewire Software
Guidewire Software is a provider of core system software to the global
general (Property/Casualty) insurance industry. Designed to be flexible
and scalable, Guidewire solutions give insurers the capability to
deliver excellent service, increase market share and lower operating
costs. Guidewire InsuranceSuite™, consisting of Guidewire PolicyCenter®,
Guidewire ClaimCenter® and Guidewire BillingCenter® spans the key
functional areas in insurance – underwriting and policy administration,
claims management, and billing. Guidewire is headquartered in Foster
City, California, with offices in Beijing, Dublin, Hong Kong, London,
Munich, Paris, Sydney, Tokyo, Toronto and Warsaw. For more information,
please visit www.guidewire.com.
NOTE: © 2012 Guidewire Software, Inc. All rights reserved. Guidewire,
Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter,
Guidewire BillingCenter, Guidewire InsuranceSuite, Guidewire Live,
Before & After, Guidewire PartnerConnect, Deliver Insurance Your Way,
and the Guidewire logo are trademarks, service marks, or registered
trademarks of Guidewire Software, Inc. in the United States and/or other
countries.