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BearingPoint and Guidewire Software Help Insurers Meet Business Changes and Regulatory Requirements

BearingPoint and Guidewire Software Help Insurers Meet Business Changes and Regulatory Requirements

FRANKFURT Germany and SAN MATEO Calif., 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 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.

For more information, please visit www.guidewire.com and follow us on Twitter: @Guidewire_PandC.

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