American Modern Insurance Group (American Modern), a U.S. specialty
insurer, and Guidewire Software, Inc. (NYSE: GWRE), a provider of
software products to Property/Casualty insurers, today announced that
American Modern has selected Guidewire PolicyCenter® as its new
underwriting, rating and policy administration solution and Guidewire
BillingCenter® to manage its billing operations including agency and
direct bill and commissions calculation and payment. American Modern has
also selected Guidewire Client Data Management™.
As part of a broader business transformation initiative that includes
the ongoing implementation of Guidewire ClaimCenter®, American Modern
selected PolicyCenter and BillingCenter to help it consolidate multiple
systems and improve the scalability of its infrastructure for growth at
a lower expense. In addition to the robust architecture and flexibility
of the systems, the key business drivers for American Modern’s selection
included the upgradeability of the solutions as well as Guidewire’s
reputation for implementation success. PolicyCenter and BillingCenter
will be implemented simultaneously beginning with all of American
Modern’s personal lines products.
“The rich, out-of-the-box features of PolicyCenter and BillingCenter
were very attractive to us,” said John Spritzky, assistant vice
president, Business Enablement, American Modern. “We also appreciated
Guidewire’s model of measuring conformance, so that we will know if we
are veering away from what we are trying to do with the out-of-the-box
functionality and customization.”
PolicyCenter and BillingCenter will enable American Modern to:
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Increase business agility with product offerings based on a
sophisticated rating model and advanced underwriting methods that
leverage standardized and consistent processes;
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Improve the ease of doing business for agents by enabling full policy
lifecycle servicing along with faster quoting and issuance based on
prefill capabilities and the intuitiveness of the systems;
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Enhance operational efficiency by standardizing underwriting, policy
administration, and billing management on a common platform; and
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Adopt out-of-the-box business best practices immediately while being
able to easily configure the solution’s features and functionality to
address the organization’s specific requirements.
“We are pleased that American Modern has selected Guidewire PolicyCenter
and BillingCenter and is now an InsuranceSuite customer,” said Ken
Branson, director, Product Strategy and Guidewire Software co-founder.
“We admire American Modern’s dedication to strategically growing their
business and transforming their core systems and business processes. We
look forward to working with them on this project.”
Guidewire PolicyCenter is a flexible underwriting and policy
administration system that enables Property/Casualty insurers to grow
business profitably by improving efficiency, while responding with
agility to market opportunities and enhancing relationships with agents
and customers. Designed to support both commercial and personal lines,
PolicyCenter helps insurers streamline front and back office processes,
from new business submission and quoting through policy renewals.
PolicyCenter is available as a standalone system or as part of Guidewire
InsuranceSuite™, and can be integrated to an insurer’s legacy systems or
third party applications.
Guidewire BillingCenter is a comprehensive billing and receivables
management system built on the core design principles of automation,
control and flexibility. BillingCenter allows you to deliver insurance
your way by making it easier to automate the billing lifecycle; design
flexible billing, payment and delinquency plans; manage agent
commissions; and enable rapid integration with external payment systems.
BillingCenter is available as a standalone system or as part of
Guidewire InsuranceSuite™, and can be integrated to a general (property
and casualty) insurer’s legacy systems or third-party applications.
About American Modern Insurance Group
American Modern's business is specialty insurance. Its mission is to
provide its customers with easy access to quality insurance coverage.
With more than 45 years of insurance experience, American Modern
delivers specialized products and services for residential property that
does not need an HO-3 policy, or that does not qualify in the standard
market because of value, location, past claims or other reasons. In the
recreational market, the company offers flexible coverage for customers
needing more protection than what is included with an endorsement to a
homeowner or auto policy. For more information about American Modern,
please visit www.amig.com.
About Guidewire Software
Guidewire Software is a provider of software products for
Property/Casualty insurers. Designed to be flexible and scalable,
Guidewire products enable insurers to deliver excellent service,
increase market share, and lower operating costs. Guidewire products
include Guidewire InsuranceSuite™, consisting of Guidewire
PolicyCenter®, Guidewire ClaimCenter® and Guidewire BillingCenter® which
span the core functional areas in insurance; Guidewire LiveSM,
a cloud-based network connecting peer insurers, core system data and
expert tools through instant on apps; Guidewire DataHub™ and Guidewire
InfoCenter™ which help insurers address their data management and
business intelligence challenges. 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 http://www.guidewire.com.
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire
PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite,
Guidewire DataHub, Guidewire InfoCenter, Guidewire Live, Before & After,
Guidewire PartnerConnect, Guidewire SolutionConnect, 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.
Copyright Business Wire 2013