Employers Direct Insurance Company, a specialty California workers' compensation insurance carrier, and Guidewire Software®, a leading provider of solutions to property and casualty and workers' compensation insurers, today announced that Employers Direct has chosen to complete its adoption of the entire Guidewire Insurance Suite with its selection of Guidewire PolicyCenter™ and Guidewire BillingCenter™.
Built on a web-native technology platform, the Guidewire InsuranceSuite will replace legacy systems and provide Employers Direct with shared workflow, integration, and business rule management across underwriting, policy administration, claims, and billing. Continuing its drive for innovation in the workers' compensation market, Employers Direct will leverage the Guidewire InsuranceSuite's rule-based underwriting and its support of audit-based and loss-sensitive billing models.
"Guidewire PolicyCenter and BillingCenter provide us with the key business functionality and flexibility necessary for us to continue to meet our customers' evolving needs, while the technology platform enables us to continue the advancement of our state-of-the-art core system portfolio," said James E. Little, Chairman/President and CEO of Employers Direct Insurance Company. "Employers Direct will also be able to achieve further operational efficiencies by leveraging the native integration between Guidewire applications."
Since July 2005, Employers Direct has been live on Guidewire ClaimCenter®, the industry's most comprehensive and flexible web-based system for management of workers' compensation claims.
Guidewire PolicyCenter manages underwriting and policy administration processes, including new policy applications, quoting, renewals, changes, cancellations, and reinstatements. Underwriters use PolicyCenter to manage submissions and existing policies, manage producer relationships, generate correspondence, and gain visibility into the key drivers of underwriting performance.
Guidewire BillingCenter manages the end-to-end billing process, including complex and customized billing arrangements. Built on a double-entry accounting foundation, BillingCenter receives billing instructions from Guidewire PolicyCenter and determines the amounts due on a policy or account, manages payments made by insureds, links these payments to the amounts due, and manages the commissions payable to agents from these receipts.
"The Guidewire InsuranceSuite realizes our vision of delivering an integrated, web-based suite of applications for a carrier's most important processes," said Jeff Simpson, chief executive officer, Guidewire Software. "I am delighted that Guidewire will be an enabler of Employers Direct's quest to be a world-class workers' compensation carrier."
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 400 insurers, from new ventures to the largest and most complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.