Jewelers Mutual Insurance Company Selects Guidewire for Policy Administration, Billing, and Claims Management

Jewelers Mutual Insurance Company (“Jewelers Mutual”), the only company specializing exclusively in jewelry insurance in North America, and Guidewire Software®, a leading provider of flexible core systems to property/casualty (P/C) insurers, today announced that Jewelers Mutual has selected Guidewire InsuranceSuite as its new platform for underwriting, policy administration, billing, and claims management.   

Jewelers Mutual, licensed in all 50 U.S. states and in Canada, has earned an “A+ Superior” rating from A.M. Best for 24 consecutive years and has consistently generated underwriting profits.  The company recognized that its goal of continuing to grow profitably would require new and more robust software systems and capabilities. Two of its key business strategies – increasing responsiveness to the unique needs of its market and improving efficiency across the organization – would require more flexible applications.

“We plan to grow our business significantly in the years ahead.  To do this we need the technology to help us deliver even better products and service levels to our customers,” said Darwin Copeman, president and chief executive officer of Jewelers Mutual. “As our core system partner, Guidewire will be instrumental to our future success.”

Jewelers Mutual will be simultaneously implementing all core InsuranceSuite applications to first service its personal lines of business, and will subsequently extend the new functionalities to its commercial lines operations.  Guidewire InsuranceSuite will enable Jewelers Mutual to:

• Better respond to the unique needs of its policyholders and agents – with increased speed and accuracy;
• Reduce time to market for new products – allowing Jewelers Mutual to grow profitably;
• Improve data analytics and reporting capabilities; and
• Enhance operational efficiency through automation across underwriting, policy administration, billing, and claims management processes.

“Guidewire is honored to have been selected by the Jewelers Mutual team to be its core system partner,” said Marcus Ryu, chief executive officer, Guidewire Software. “We applaud the fact that Jewelers Mutual is intent on improving its already impressive operating results.  We share their passion for continual improvement in our own operations. Our team is looking forward to helping Jewelers Mutual transform its core operations.”

Guidewire InsuranceSuite 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 — 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. 

About Jewelers Mutual

Jewelers Mutual Insurance Company is the only company specializing exclusively in jewelry insurance in the United States and Canada. The company's strong financial position is reflected in its continued A+ Superior rating from A.M. Best. Jewelers Mutual was founded in 1913 in Neenah, Wis., by jewelers seeking to meet their unique insurance needs. Today, Jewelers Mutual insures manufacturers, repair businesses, bench jewelers, custom designers, retailers, artisans, appraisers, wholesalers, and individuals. More than 10,000 commercial policyholders trust Jewelers Mutual to insure their jewelry businesses, and more than 225,000 individual policyholders carry in excess of $3 billion in personal insurance coverage. Visit the Jewelers Mutual website at www.JewelersMutual.com to learn more.