Guidewire PolicyCenter™ to help enhance operational
efficiency and increase business agility across commercial lines of
business
OWATONNA, Minn. & FOSTER CITY, Calif.--(BUSINESS WIRE)--Feb. 15, 2018--
Federated Insurance, a direct writer of Property and Casualty (P&C)
insurance products, and Guidewire Software, Inc. (NYSE: GWRE), a
provider of software products to P&C insurers, today announced that
Federated has selected Guidewire products to help modernize and
transform the way it operates across its commercial lines of business.
The company selected Guidewire PolicyCenter™ and Guidewire
Rating Management™ as its new underwriting, policy
administration, and rating management system.
Federated Insurance sought to increase its flexibility and take
advantage of the real-time functionality and built-in best practices of
the Guidewire systems. The company will begin implementing PolicyCenter
for its workers’ compensation line of business, followed by its
commercial package policy (CPP) and business owners policy (BOP) lines
of business. PolicyCenter will eventually be implemented across all
commercial lines of business in the 48 states where Federated operates.
“Guidewire’s product maturity, market share, and track record of
successful implementations were important factors in our decision-making
process,” said Jeff Fetters, chairman of the board and chief executive
officer, Federated Insurance. “We are confident that our strategic
relationship will help Federated continue providing dependable insurance
coverage to our commercial policyholders.”
Brian Carlson, information system manager, application development &
support, Federated Insurance, said, “From a technical perspective, we’re
excited at the prospect of having a modern policy administration system
in place, giving us the potential for a vast number of technical and
business benefits through our use of the product and relationship with
Guidewire in general.”
PolicyCenter will enable Federated to:
-
Enhance operational efficiency and productivity throughout the
organization by standardizing policy administration on a modern
technology platform designed to grow and change with its business;
-
Reduce total cost of ownership by reducing effort required for making
policy changes; and
-
Increase business agility by bringing new products and product
enhancements to market more quickly.
“We welcome Federated Insurance to the Guidewire customer community,”
said Steve Sherry, chief sales officer, Guidewire Software. “We admire
the company’s dedication to protecting its policyholders, and we look
forward to helping them meet their current and future business
objectives.”
About Federated Insurance
Founded in 1904, Federated Insurance is a national insurance and risk
management organization that serves the property, casualty, and life
insurance needs of clients in select industries. The organization has
more than 500 recommendations from state, regional, and national
associations and buying groups and is rated A+ (Superior) by industry
analyst A.M. Best® Company.
At Federated Insurance, It’s Our Business to Protect Yours.® For more
information, please visit https://www.federatedinsurance.com/.
About Guidewire Software
Guidewire delivers the software that Property and Casualty (P&C)
insurers need to adapt and succeed in a time of rapid industry change.
We combine three elements – core operations, data and analytics, and
digital engagement – into a technology platform that enhances insurers’
ability to engage and empower their customers and employees. More than
300 P&C insurers around the world have selected Guidewire. For more
information, please visit www.guidewire.com.
Follow us on twitter: @Guidewire_PandC.
NOTE: For all information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180215005129/en/
Source: Guidewire Software
Guidewire Software, Inc.
Diana Stott, +1-650-356-4941
Director,
Communications
dstott@guidewire.com
or
Federated
Insurance
Patric Cooper, +1-800-533-0472
Executive Vice
President, Director of Communication and Corporate Support
PKCooper@fedins.com
