NJM Insurance Group Selects Guidewire Solution for Underwriting, Policy Administration, Billing, and Client Data Management
Guidewire PolicyCenter® and Guidewire BillingCenter® to help New Jerseys largest auto and workers compensation insurer increase operational efficiencies and enhance customer experience
WEST TRENTON, N.J. & FOSTER CITY, Calif.--(BUSINESS WIRE)-- New Jersey Manufacturers Insurance Company (NJM), the largest automobile and workers compensation insurer in New Jersey, and Guidewire Software, Inc. (NYSE: GWRE), a provider of flexible core system software to Property/Casualty insurers, today announced that NJM has selected Guidewire PolicyCenter® as its new underwriting and policy administration solution and Guidewire BillingCenter® to manage its billing operations. In addition, NJM has selected Guidewire Client Data Management" to support a more comprehensive customer view across its core operations. PolicyCenter and BillingCenter will be deployed for workers compensation first followed by all other lines of business. NJM, now a Guidewire InsuranceSuite" customer, has been in production with Guidewire ClaimCenter® since 2007.
After a successful ClaimCenter deployment, NJM wanted to evaluate other areas of its business including underwriting, policy administration, and billing operations to determine if additional process improvements could be made. NJM sought a next generation platform that could streamline its policy and billing management, better serve its policyholders, and provide a foundation for future initiatives and business changes.
While we had success with our Guidewire ClaimCenter implementation, we selected Guidewire PolicyCenter and BillingCenter because of the depth of functionality of each system individually, said Harold Fink, vice president, Program Management Office, NJM. The maturation of PolicyCenter and BillingCenter caught our attention, and we believe the capabilities of the systems will help us meet our long-term IT and business goals.
Having the ability to service our policyholders the way they want to be served is very important to us whether it be allowing our policyholders to log on to their account from a mobile device or website to see how much they owe or providing a platform that enables them to make electronic payments, said Neil Delaney, chief technology officer, NJM. We look forward to the customer service improvements that come from having underwriting, policy administration, claims, and billing within a single suite.
We welcome NJM as a Guidewire InsuranceSuite customer and are pleased to extend our relationship with them, said Steve Sherry, vice president, The Americas, Guidewire Software (GWRE). We applaud NJMs commitment to providing high quality service to their customers, and we look forward to working with them as they transform their underwriting, policy administration, and billing operations.
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 insurers 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/Casualty) insurers legacy systems or third party applications.
About New Jersey Manufacturers Insurance Group
New Jersey Manufacturers Insurance Group is the states largest writer of Workers Compensation and Personal Auto Insurance and numbers among the five largest providers of 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 billion. For more information, visit www.NJM.com.
About Guidewire Software
Guidewire Software is a provider of core system software to the global Property/Casualty (general) 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, and Toronto. For more information, please visit www.guidewire.com.
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite, Deliver Insurance Your Way, Guidewire PartnerConnect, and the Guidewire logo are trademarks or registered trademarks of Guidewire Software, Inc.
Guidewire Software, Inc.
Diana Stott, +1 650-356-4941
Public Relations Manager
Source: Guidewire Software, Inc.Copyright Business Wire 2012