Jewelers Mutual Deploys Guidewire For Underwriting, Policy Administration, Billing and Claims Management
Guidewire InsuranceSuite™ and accompanying modules support the continual improvement and business growth plans of jewelry insurance specialist
NEENAH, Wis. & FOSTER CITY, Calif.--(BUSINESS WIRE)-- Jewelers Mutual Insurance Company ("Jewelers Mutual"), the only company specializing exclusively in jewelry insurance in North America, and Guidewire Software, Inc. (NYS: 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.
Guidewire Software, Inc.
Diana Stott, +1-650-356-4941
Public Relations Manager
Jewelers Mutual Insurance Company
David Maus-Berkley, 800-558-6411
Marketing Communications Specialist
KEYWORDS: United States North America California Wisconsin
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