Press Releases
BearingPoint and Guidewire Software Help Insurers Meet Business Changes and Regulatory Requirements
FRANKFURT, GERMANY and San Mateo, California, USA, June 21 2007 - BearingPoint, one of the world's largest management and technology consulting firms, and Guidewire Software, Inc., a leading provider of solutions for the general insurance industry, today announced their cooperation to jointly approach the insurance market in Europe, the Middle East and Africa (EMEA) to provide customers with an integrated delivery approach for their Guidewire core-system augmentation and replacement projects.
The cooperation includes the insurance markets in Germany, Austria, Switzerland, UK, France, Spain and Russia. Guidewire is a rapidly expanding company in the United States and has already successfully expanded into Canada, Australia and New Zealand. BearingPoint has extensive project experience in the EMEA insurance market and is building a successful global Guidewire practice. Numerous joint implementations are already under way in the United States. Building on this joint success in the United States, BearingPoint and Guidewire will now collaborate closely in Europe.
"Insurance companies are finding that transforming their core systems and processes is critically important for success in the 21st century, and that selecting the right underwriting, billing or claims system is a necessary first step in such a transformation" said Marcel Nickler, BearingPoint Financial Services EMEA leader. "BearingPoint and Guidewire are helping companies build more flexibility into core processes and systems to meet constantly changing business and regulatory requirements and compete more effectively."
Guidewire provides an integrated suite of core applications designed to address the specific operational needs of insurance companies.
Guidewire PolicyCenter is a complete underwriting and policy administration system, which helps organizations improve overall underwriting accuracy and efficiency, increase premium revenues at lower loss cost and lower expense, and quickly respond to business opportunities.
Guidewire ClaimCenter is a comprehensive claims system that manages the end-to-end claim process, from new loss entry through investigation, settlement and recovery.
Guidewire BillingCenter is a complete billing system enabling insurers to coordinate, execute, record and track receivables transactions, while streamlining the overall billing process.
John Raguin, president of Guidewire Software, Inc. said, "Guidewire is very focused on customer success and BearingPoint has worked with us to meet our needs and those of our customers. Our combined strengths are the perfect mix for the very important European market."
About BearingPoint
BearingPoint, Inc. (NYSE: BE) is one of the world's largest providers of management and technology consulting services
to Global 2000 companies and government organizations in 60 countries worldwide. Based in McLean, Va., the firm has over
17,000 employees and major practice areas focusing on the Public Services, Financial Services and Commercial Services
markets. For nearly 100 years, BearingPoint professionals have built a reputation for knowing what it takes to help clients
achieve their goals, and working closely with them to get the job done. For more information, visit the Company's
website at www.bearingpoint.com.
About Guidewire
Guidewire Software is a leading provider of technology solutions to general insurance and workers' compensation
insurers. Guidewire delivers proven software to run core insurance operations, including billing, underwriting, policy
administration, and claim management. The Guidewire Insurance Suite™; consists of Guidewire ClaimCenter®,
Guidewire PolicyCenter®, and Guidewire BillingCenter™, which provide a modern, web-based platform for all lines
of business. Guidewire is headquartered in San Mateo, California, USA with offices in Toronto, London, Paris,
Munich, and Sydney. For more information, please visit www.guidewire.com.
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