Missouri Employers Mutual Insurance (MEM), Missouri’s largest workers’ compensation insurer, and Guidewire Software®, a leading provider of flexible core systems to property/casualty insurers, today announced that MEM has selected Guidewire PolicyCenter® as its new policy administration and underwriting solution and Guidewire BillingCenter® as its new billing system. MEM has already successfully deployed Guidewire ClaimCenter®. Together these Guidewire Insurance Suite™ applications will fully replace functionality currently performed by the carrier’s legacy policy, billing, and claims system.
To allow greater flexibility and more time to serve policyholders and agents, MEM’s 5-year strategic IT plan focuses on aligning customer and system architectures to work more efficiently and cost effectively. MEM’s old systems make meeting these needs very difficult.
“Our Guidewire ClaimCenter project went so smoothly that when it came time for us to look for new policy administration and billing systems our first thought was to look to Guidewire to see how they could help,” said Michael Foerst, chief information officer and vice president of information services at MEM. “Guidewire’s applications are individually very solid business solutions. Now we’ll benefit from their shared technology platform enabling us to leverage our IT skills across all three applications.”
Foerst added, “Guidewire applications give us the flexibility we need to run our business the way we want to – offering additional billing options to our customers for instance. We’re excited about the possibilities.”
“MEM has achieved great results from their claims transformation project, which we have no doubt they will now extend to their underwriting and billing areas,” said John Raguin, chief executive officer, Guidewire Software. “We are proud that their ClaimCenter experience was a positive one, making them confident in their decision to implement additional Guidewire systems.”
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 all lines of business, PolicyCenter streamlines insurers’ front and back office processes, from new business submission and quoting through policy renewals.
Guidewire BillingCenter® is a comprehensive billing and receivables management system built on the core design principles of automation, control and flexibility. BillingCenter allows insurers to manage billing the way they want 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.
Guidewire PolicyCenter and BillingCenter are available as individual applications or as part of the Guidewire Insurance SuiteTM. The Guidewire Insurance Suite provides the flexible, core systems essential for the mission-critical operations of property/casualty insurers competing in today’s market: underwriting, policy administration, billing, and claims. The suite was designed using a modular approach, enabling insurers to select individual applications or a pre-integrated set, driven by their requirements and priorities. The suite 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.