Investor Relations

Overview

News Release

  View printer-friendly version

« Back

September 2, 2015 at 8:55 AM EDT

Texas FAIR Plan Selects Guidewire Products to Enhance Its Core System Processing, Data Management, Business Intelligence and Digital Capabilities

FOSTER CITY, Calif.--(BUSINESS WIRE)--Sep. 2, 2015-- Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty (P/C) insurers, today announced that Texas FAIR Plan Association (TFPA) has selected Guidewire InsuranceSuite™ as its new platform for the management of underwriting, policy administration, claims, billing, rating and client data. TFPA also selected Guidewire DataHub™ and InfoCenter to support its enterprise-wide data management and business intelligence strategies, and Guidewire Claim Portal for Policyholders™ and Claim Portal for Agents to enhance the digital experience for its users.

“We welcome TFPA to the Guidewire family and look forward to working with them on their implementation project,” said Steve Sherry, group vice president, Americas Sales, Guidewire Software.

Guidewire InsuranceSuite™ powers the mission-critical operations of property/casualty insurers competing in today’s market. The suite was designed using a modular approach, enabling insurers to select individual applications -- Guidewire PolicyCenter®, Guidewire BillingCenter®, and Guidewire ClaimCenter® -- or a pre-integrated set, driven by their requirements and priorities. InsuranceSuite 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.

Guidewire Digital Portals™ is a portfolio of portals that allow insurers to expose Guidewire InsuranceSuite™ functionality to external stakeholders such as policyholders, agents/brokers and vendors through the web and mobile devices. Insurers can extend the value of their Guidewire core system investment to drive new business, increase operational efficiency, and improve customer service through digital channels. Each individual product has been developed to meet a targeted need for a specific user group (e.g. Quote and Buy for Policyholders). The underlying architecture of the products has been designed to directly leverage InsuranceSuite functionality without duplication, enabling quick response to market needs and lowering total cost of ownership, all on a future ready technology.

About Texas FAIR Plan Association

The Texas FAIR Plan (FAIR Plan) was created by an act of the Texas Legislature (Chapter 2211, Tex. Ins. Code) for the purpose of providing basic residential property insurance to applicants who cannot secure coverage in the voluntary market.

As a market of last resort, coverage available through the FAIR Plan is not as comprehensive as coverage available through the voluntary market. The FAIR Plan does not compete with the private market and applicants must have two declinations from other insurers in order to obtain coverage with the FAIR Plan. Applicants are not eligible for coverage with the FAIR Plan if they have a current homeowners or other residential property policy, renewal offer, or a binding quote from an authorized insurance company.

Although the FAIR Plan is considered a market of last resort, applications submitted for coverage are subject to underwriting guidelines for characteristics of ownership, condition, occupancy, maintenance, and liability exposure. Properties owned/deeded in the name of a business (corporation, partnership, association, LLP, LLC, etc.) are not eligible for coverage with the FAIR Plan. Vacant/unoccupied properties are also not eligible for coverage with the FAIR Plan.

The Texas FAIR Plan Association (TFPA) does not sell policies directly to the public and does not have agents of its own. TFPA will accept an application for insurance from a properly licensed and authorized agent you choose to represent you in this process.

For more information about TFPA, please visit www.texasfairplan.org.

About Guidewire Software

Guidewire delivers the software that Property/Casualty (P/C) insurers need to adapt and succeed in a time of rapid industry change. We combine three elements – core processing, data and analytics, and digital engagement – into a technology platform that enhances insurers’ ability to engage and empower their customers and employees. More than 200 P/C 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, and Guidewire BillingCenter are registered trademarks of Guidewire Software, Inc. in the United States and/or other countries.

Source: Guidewire Software

Guidewire Software, Inc.
Diana Stott, +1-650-356-4941
Director, Communications
dstott@guidewire.com