Farm Bureau Insurance of Michigan Selects Guidewire Solution for Rating, Underwriting, Policy Admini
Farm Bureau Insurance of Michigan Selects Guidewire Solution for Rating, Underwriting, Policy Administration, Billing, and Claims Management
Guidewire InsuranceSuite™ to help Michigan Property/Casualty insurer enhance customer service and operational efficiency capabilities
LANSING, Mich. & FOSTER CITY, Calif.--(BUSINESS WIRE)-- Farm Bureau Insurance of Michigan (Farm Bureau Insurance), a leading provider of Property/Casualty (P/C) insurance in Michigan, and Guidewire Software, Inc. (NYS: GWRE) , a provider of software products to P/C insurers, today announced that Farm Bureau Insurance has selected Guidewire InsuranceSuite™ as its new platform for rating, underwriting and policy administration, claims management, and billing. The organization also selected Guidewire Client Data Management™ to help it manage customer contact data. Guidewire PartnerConnect™ alliance member, PwC US, has been selected to work with Farm Bureau Insurance on the implementation project.
Farm Bureau Insurance selected InsuranceSuite to help it transform its core systems as well as its business practices as part of a larger business transformation initiative. Another key business driver for the project is Farm Bureau Insurance's desire to continuously improve its service to customers, including both policyholders and agents.
"As we went through the selection process, it was really the quality of the Guidewire team and technology that reaffirmed that they were the best fit for our needs," said Bill Hodges, director, Marketing Development and Support, Farm Bureau Insurance. "Whenever we had questions, the Guidewire team demonstrated the answer visually, through the solution versus just telling us. This made us comfortable and confident in the fact that we were making the right decision."
"We are committed to our agents as our distribution method and trusted advisors," said Teresa Ruckle, director, Policyholder Services, Farm Bureau Insurance. "With InsuranceSuite, we will be able to provide them with the ability to make faster decisions leveraging straight through processing and tools that will help eliminate manual processes. This will, in turn, allow them to focus more on customer service."
InsuranceSuite will enable Farm Bureau Insurance to:
- Increase its speed to market with integrated policy, billing, and claims systems;
- Enhance its operational efficiencies and consistency across all its P/C lines of business;
- Consolidate disparate systems to more easily gather data for accurate pricing which will enable it to be competitive in the market; and
- Reduce operating costs by leveraging a common skill set and conﬁguration tools.
"We are pleased to welcome Farm Bureau Insurance to the Guidewire family as an InsuranceSuite customer," said Steve Sherry, vice president, The Americas, Guidewire Software. "We recognize their commitment to continuously improving their customers' experience, and we look forward to a long term partnership with them."
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 Farm Bureau Insurance of Michigan
Farm Bureau Insurance of Michigan was founded in 1949 by Michigan farmers—members of Michigan Farm Bureau—who wanted an insurance company that worked as hard as they did, gave honest service, and cared about Michigan's future. Those values still guide the company today and are a big reason why Farm Bureau Insurance of Michigan is known as Michigan's Insurance Company, dedicated to protecting the farms, families, and businesses of this great state.
Its 400 agents across Michigan provide a full range of insurance services—life, home, auto, farm, business, retirement, Lake Estate®, and more—protecting nearly 500,000 Michigan policyholders. Farm Bureau's Mission: "Protecting the people of Michigan from the risks of everyday life" is the driver of their work to deliver service and products to the residents of Michigan. For more information, visit www.farmbureauinsurance-mi.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, Guidewire Live Inside, Before & After, Claim Canvas, ViewPoint, 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.
Guidewire Software, Inc.
Diana Stott, +1 650-356-4941
KEYWORDS: United States North America California Michigan
The article Farm Bureau Insurance of Michigan Selects Guidewire Solution for Rating, Underwriting, Policy Administration, Billing, and Claims Management 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.