Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty (P/C) insurers, today announced that Texas Mutual Insurance Company (Texas Mutual) has selected Guidewire PolicyCenter® as its new underwriting, rating, and policy administration system and Guidewire BillingCenter® to manage its billing operations, including agency and direct bill and commissions calculation. Texas Mutual has also selected Guidewire Client Data Management™.
After successfully deploying Guidewire ClaimCenter® in early 2014, Texas Mutual will now be implementing PolicyCenter and BillingCenter in an effort to streamline its policy and billing system infrastructure and business processes. PolicyCenter and BillingCenter will provide Texas Mutual with a more intuitive and configurable platform, and allow the company to gain the flexibility required to remain competitive in an evolving market.
“PolicyCenter and BillingCenter provide strong support for our agent-driven workers’ compensation business,” said Stacie Feller, vice president, Underwriting Systems, Texas Mutual. “Our experience with ClaimCenter and the Guidewire team over the past several years and the ability to implement a single insurance suite across multiple divisions were key drivers behind our decision to standardize on Guidewire InsuranceSuite.”
PolicyCenter and BillingCenter will enable Texas Mutual to:
Improve service levels for customers and brokers due to increased operational efficiencies;
More easily and quickly implement system changes; and
Leverage a modern platform to consolidate and standardize account management and billing systems and handling processes.
“PolicyCenter and BillingCenter provide the foundational technology that is critical to our growth and flexibility,” said Terry Buchheit, vice president, Application Services, Information Technology Division, Texas Mutual. “With Guidewire, we are well-positioned to meet our current and future business and IT goals.”
“We are excited to welcome Texas Mutual as a PolicyCenter and BillingCenter customer and to extend our relationship with them,” said Dan Gordon, vice president, Product Strategy, Guidewire Software. “We admire Texas Mutual’s dedication to strategically growing their business and transforming their core systems and 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 Property/Casualty insurer’s legacy systems or third party applications.