Guidewire PolicyCenter®, BillingCenter, and Quote and Buy
Portal to help one of New Jersey’s largest auto and workers’
compensation insurers transform its billing and policy administration
operations, and enhance customer experience
New Jersey Manufacturers Insurance Company (NJM), one of the largest
auto and workers’ compensation insurer in New Jersey, and Guidewire
Software, Inc. (NYSE:GWRE), a provider of software products to
Property/Casualty insurers, today announced that NJM has successfully
deployed Guidewire PolicyCenter® as its new underwriting and policy
administration solution, Guidewire BillingCenter® as its new billing
management system and Guidewire Quote and Buy Portal™ to extend
self-service capabilities to new and existing personal auto
policyholders. NJM, now a fully-deployed Guidewire InsuranceSuite™
customer, has been in production with Guidewire ClaimCenter® since 2007.
NJM sought systems that would be easier to maintain and extend as
needed, and help it streamline and improve its processes and system
infrastructure. NJM implemented BillingCenter and PolicyCenter for its
workers’ compensation line of business in September 2013, and its
personal auto line of business went live on January 1, 2015. The insurer
implemented Guidewire’s Quote and Buy portal in conjunction with its
personal auto rollout as the online quoting and binding capability was a
critical requirement for this line of business. NJM plans to extend
BillingCenter and PolicyCenter to its renewal business starting in June,
and its homeowner and umbrella lines of business later next year.
“The deployment of Guidewire BillingCenter, PolicyCenter and Quote and
Buy Portal represents a significant milestone in the company’s long-term
business transformation initiative,” said Neil Delaney, NJM’s vice
president and chief technology officer. “Feedback from across the
business has been very positive so far.”
Guidewire products are enabling NJM to:
-
Make system changes to improve productivity and bring new products to
market more quickly and with higher quality to better keep pace with
changing business demands;
-
Provide a modern technology platform with automated processing and
real-time functionality to allow its employees to serve customers
quickly and efficiently;
-
Extend policy quote request, comparison and purchasing capabilities
online; and
-
Standardize policy administration and billing practices for
consistency and accuracy.
“The Quote and Buy Portal’s integration with PolicyCenter enables our
omnichannel goal of a seamless transition from online to customer
service representatives and will improve speed to market of future
changes,” said NJM’s Harold Fink, vice president, Program Management
Office. “Having access to Guidewire throughout the implementation
process has been invaluable, and we look forward to working together on
further deployments.”
“We congratulate NJM on the successful implementation of PolicyCenter,
BillingCenter and Quote and Buy Portal,” said Mike Polelle, chief
delivery officer, Guidewire Software. “We are honored to have played a
role in helping NJM transform their underwriting, policy administration,
and billing operations and build a foundation for future business
growth.”
Guidewire PolicyCenter® is a flexible underwriting and policy
administration system that enables general insurers to grow business
profitably by improving efficiency, while responding with agility to
market opportunities and enhancing relationships with customers and
brokers. Designed to support both commercial and personal lines,
PolicyCenter helps insurers streamline front- and back-office processes,
from new business submission and quoting through to policy renewals.
PolicyCenter is available as a standalone system or as part of Guidewire
InsuranceSuite™, and can be integrated with 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 payment 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/Casualty) insurer’s legacy systems or third party applications.
Guidewire Mobile and Portals™ is a portfolio of transaction portals that
allow insurers to expose Guidewire InsuranceSuite™ functionality online
and to mobile devices. Insurers can extend the value of their Guidewire
core system investment to drive new business, increase operational
efficiency, and improve customer service through digital channels. Each
individual product has been developed to meet a targeted need. The Quote
and Buy Portal™ allows insurers to reach new customers with easy access
to obtain a quote, review and compare quote variations and buy a policy,
on any device. The underlying architecture of each product has been
designed to enable efficient implementation, allow quick response to
market needs and adapt to future technology innovation.
About New Jersey Manufacturers Insurance Group
NJM Insurance Group is the state’s largest writer of workers’
compensation and among the leaders in personal auto, commercial auto and
homeowners coverage. Formed in 1913 by factory owners who wanted to
purchase insurance from a reliable, local, safety-oriented carrier, the
Company has earned a reputation for efficiency, integrity and customer
satisfaction. Since 1918, NJM has returned dividends to policyholders
every year for a cumulative total of more than $5.6 billion. For more
information, visit www.njm.com.
About Guidewire Software
Guidewire builds software products that help Property/Casualty insurers
replace their legacy core systems and transform their business. Designed
to be flexible and scalable, Guidewire products enable insurers to
deliver excellent service, increase market share and lower operating
costs. Guidewire InsuranceSuite™ provides the core systems used by
insurers as operational systems of record. Additional products provide
support for data management, business intelligence, anytime/anywhere
access and guidance and monitoring. More than 180 Property/Casualty
insurers around the world have selected Guidewire. For more information,
please visit www.guidewire.com.
Follow us on twitter: @Guidewire_PandC.
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire
PolicyCenter, Guidewire BillingCenter, are registered trademarks of
Guidewire Software, Inc. in the United States and/or other countries.
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