Farm Mutual Insurance Company of Idaho Deploys Guidewire for Claims Management

Guidewire ClaimCenter® expands business potential and streamlines operations for better policyholder and agent service

POCATELLO, Idaho and SAN MATEO, Calif., July 27, 2010:

Farm Bureau Mutual Insurance Company of Idaho (FBM Idaho), the state’s largest domestic property/ casualty insurer and Guidewire Software®, a leading provider of flexible core systems to property/casualty insurers, today announced that FBM Idaho has deployed Guidewire ClaimCenter as its new claims management solution for personal lines claims. FBM Idaho writes 13 different lines of personal coverage. The company is processing all new claims for these lines in ClaimCenter and will convert outstanding older claims to the new system within 90 days. Commercial lines will be added in a later ClaimCenter phase.   

Recognizing the limitations of its legacy core systems and underlying technology foundation, and that its IT workforce was nearing retirement age, the company put plans in place to ensure a strong technology foundation for its future. “We began our core system upgrades in the claims area. After selecting Guidewire, we reviewed our claims handling practices and decided how we wanted to handle claims - as opposed to automating what we had previously been doing,” said Gordon Crystal, vice president, Claims, FBM Idaho. “This process helped us identify challenge areas which we then addressed during our implementation.”

“ClaimCenter is enabling us to increase the speed and efficiency with which we are able to process claims by automating processes and ensuring handling consistencies across our staff,” said Doug Alley, claims operations manager, FBM Idaho. “With ClaimCenter, all of our claims handling capabilities are in one system, simplifying our adjusters’ lives and enabling us to better focus on serving our policyholders and agents.”

ClaimCenter is enabling Farm Bureau Mutual to now:

• Consolidate multiple claims systems into one system for all lines of business;
• Provide easy access from within ClaimCenter to other systems adjusters rely on (e.g. roadside assistance, Metropolitan reporting; Enterprise Rent-a-Car etc.) for seamless service to their policyholders;
• Readily maintain the system with in-house personnel; and
• Reduce adjuster and CSR training timeframes as a result of ClaimCenter’s user friendly, intuitive screens.

“We applaud Farm Bureau Mutual on their successful ClaimCenter project,” said John Raguin, chief executive officer, Guidewire Software. “Customer self-sufficiency is a goal in each of our projects and Farm Bureau Mutual mastered this throughout the course of their project.”

Guidewire ClaimCenter is a leading end-to-end claims management system, built from the ground up to meet the specific needs of today’s non-life insurers. ClaimCenter’s flexible business rules enable claims organizations to define, enforce, and continually refine their preferred claim handling practices in order to optimize and monitor their claim processes. ClaimCenter is in use by non-life insurers of all sizes across all product lines to improve speed and accuracy, reduce loss adjustment expense, and enable proactive management of claims. ClaimCenter is available as a standalone system or as part of the Guidewire Insurance Suite™, and can be integrated to an insurer’s legacy systems or third party applications.

Farm Bureau Mutual Insurance Company of Idaho (FBM Idaho)

Farm Bureau Mutual Insurance Company of Idaho was founded in 1947 by Idaho farmers and ranchers. Today, FBM Idaho remains wholly based in Idaho, and is one of the state’s leading home and auto insurers as well as the largest writer of farm and ranch insurance. The company’s 145 agents in 48 offices across Idaho offer automobile, homeowners, commercial, flood, crop hail, life, and health insurance. FBM Idaho pioneered the “packaged policy” concept in the early 1960’s. Today its packaged policies – for both rural and urban clients –  remain some of the most competitively priced and convenient available.  FBM Idaho has consistently maintained an "A" or higher financial strength rating from A.M. Best Company for over 25 years. FBM Idaho’s current A.M. Best rating is A+ Superior. Loans and investments are available through FBM Idaho’s subsidiary company, Idaho Farm Bureau Financial Services. Further information about Farm Bureau Mutual Insurance Company of Idaho can be found at www.idfbins.com.

About Guidewire Software

Guidewire Software is a provider of core system software to the global Property/Casualty (general) insurance industry. Designed to be flexible and scalable, Guidewire solutions give insurers the capability to deliver excellent service, increase market share and lower operating costs. Guidewire InsuranceSuite™, consisting of Guidewire PolicyCenter®, Guidewire ClaimCenter® and Guidewire BillingCenter® spans the key functional areas in insurance – underwriting and policy administration, claims management, and billing. Guidewire is headquartered in San Mateo, California, with offices in Beijing, Dublin, Hong Kong, London, Munich, Paris, Sydney, Tokyo, and Toronto. For more information, please visit www.guidewire.com.