American Modern Selects Guidewire Solution for Underwriting, Policy Administration, Rating, and Bill
American Modern Selects Guidewire Solution for Underwriting, Policy Administration, Rating, and Billing
Guidewire PolicyCenter® and Guidewire BillingCenter® to help specialty insurer consolidate multiple systems and provide a foundation for growth
AMELIA, Ohio & FOSTER CITY, Calif.--(BUSINESS WIRE)-- American Modern Insurance Group (American Modern), a U.S. specialty insurer, and Guidewire Software, Inc. (NYS: 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:
- Increase business agility with product offerings based on a sophisticated rating model and advanced underwriting methods that leverage standardized and consistent processes;
- 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;
- Enhance operational efficiency by standardizing underwriting, policy administration, and billing management on a common platform; and
- 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.
KEYWORDS: United States North America California Ohio
The article American Modern Selects Guidewire Solution for Underwriting, Policy Administration, Rating, and Billing originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.