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June 24, 2014 at 4:05 PM EDT

FMG Deploys Guidewire Solution for Underwriting, Rating, Policy Administration, and Billing Management

Guidewire PolicyCenter® and BillingCenter are helping leading New Zealand rural insurer bring products to market faster and continue to maintain client service excellence

PALMERSTON NORTH, New Zealand & FOSTER CITY, Calif.--(BUSINESS WIRE)--Jun. 24, 2014-- FMG, New Zealand’s leading rural insurer, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty (P/C) insurers, today announced that FMG has successfully deployed Guidewire PolicyCenter® as its new underwriting and policy administration solution and Guidewire BillingCenter® as its new billing system. The organization also implemented Guidewire Client Data Management™ to help give it a comprehensive client view across underwriting, policy administration, and billing processes with Guidewire Rating Management™ for more precise control and responsiveness for rating and pricing. Guidewire PartnerConnect™ Affiliate Program member, Tenzing Limited, provided specialist Guidewire project management, business analysis, configuration, and integration resources in close collaboration with FMG and Guidewire.

FMG implemented PolicyCenter and BillingCenter to provide a strong foundation to support ongoing business growth, increase its levels of client service, and more quickly bring products to market. The organization also sought systems based on an open technology architecture. FMG is currently in production with PolicyCenter and BillingCenter across all of its lines of commercial and consumer business after deploying the systems simultaneously.

“Feedback from across the business, including front-line roles and senior managers about PolicyCenter and BillingCenter has so far been very positive,” said Geoff Yeats, General Manager Business Information Services, FMG. “Employees are getting through new business work more efficiently and effectively thanks to the capabilities of the systems. For example, having automated underwriting rules for our new business clients, allows our underwriters to spend more time on client needs.”

Once FMG completes its client migration, Guidewire PolicyCenter and BillingCenter will allow FMG to:

  • Make system changes to bring new products to market more quickly and with higher quality to better keep pace with changing business and technical demands;
  • Streamline its business processes to enhance the agent/client experience and allow underwriters to focus on providing high-value services to clients;
  • Provide a modern technology platform with automated processing and real-time functionality to allow its employees to do their job quickly and efficiently; and
  • Standardize policy administration and billing practices for consistency and accuracy.

“We congratulate FMG on their successful implementation of PolicyCenter and BillingCenter,” said Ian Tavener, Vice President, Asia Pacific Operations, Guidewire Software. “We are honored to have played a role in helping FMG transform their underwriting, policy administration, and billing operations and build a foundation for future business growth. We look forward to the continued benefits FMG will experience over time.”

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 clients. 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.

About FMG

Formed by farmers for farmers over a century ago, today FMG is New Zealand’s leading rural insurer. Unlike most insurance companies in New Zealand, which are owned offshore and distribute products and services through brokers, FMG prides itself on being New Zealand owned and operated, and deals directly with clients. FMG is a mutual and has a proud history of innovation and helping clients achieve their goals. For more information, please visit www.fmg.co.nz.

About Tenzing

Tenzing has a history of over 20 years of consulting expertise in New Zealand. Our name and ethos is linked to Sherpa Tenzing Norgay – we work collaboratively to assist and achieve the aspirations of our clients.

Our unique blend of Management and Technology Consulting Services allows a one-stop shop for delivery of solutions to our insurance customers. Since 2007, Tenzing has provided Guidewire implementation services / resources and integration specialists to major insurers in NZ and Australia across the suite of Guidewire products. Please visit www.tenzing.co.nz.

About Guidewire Software

Guidewire builds software products that help Property/Casualty insurers replace their legacy core systems and transform their business. Designed to be flexible and scalable, Guidewire products enable insurers to deliver excellent service, increase market share and lower operating costs. Guidewire InsuranceSuite™ provides the core systems used by insurers as operational systems of record. Additional products provide support for data management, business intelligence, anytime/anywhere access and guidance and monitoring. More than 150 Property/Casualty insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.

NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite, Guidewire PartnerConnect, Guidewire SolutionConnect, Guidewire DataHub, Guidewire InfoCenter, Guidewire Live, Live Inside, Before & After, Claim Canvas, Viewpoint, 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.

Source: Guidewire Software, Inc.

Guidewire Software, Inc.
Diana Stott, +1 650-356-4941
Director, Communications
dstott@guidewire.com
or
FMG
Colin Wright, +64274129200
Communications Manager
colin.wright@fmg.co.nz