Guidewire Software, a leading provider of flexible core systems to property/casualty insurers, today announced that its client,Missouri Employers Mutual (MEM) has been named the ‘Model Insurer of the Year’ in Celent’s Model Insurer 2010: Case Studies of Effective Technology Use in Insurance report. The recognition is a result of MEM’s successful implementation of Guidewire ClaimCenter to replace its legacy core claims system and the transformational change this project enabled. With a project team that included MEM, Guidewire, and HCL Technologies, the benefits resulting from the implementation have far exceeded MEM’s initial goals for the project and have led to tangible business benefits for the insurer.
“From the winning components, we selected the Missouri Employers Mutual project since it most exemplified the IT best practices and measurable business results required to be a Model Insurer. We are pleased to award MEM the title of Model Insurer of the Year 2010,” says Mike Fitzgerald, senior analyst with Celent’s Insurance group and author of the report. “The wide scope of the changes and the resultant success of the project have earned MEM the award. They applied the skills and behaviors learned during the claims project to multiple areas of the company. Its automation renewal continues, with the company applying what it has learned to implement a new policy and billing system.”
“The entire Guidewire team congratulates Missouri Employers Mutual on winning ‘Model Insurer of the Year’ honors in Celent’s 2010 Model Insurer research,” said John Raguin, chief executive officer of Guidewire Software. “The MEM team has embraced change as a way to move its business forward. We are extremely proud that ClaimCenter played a role in their success and we look forward to continuing our work with MEM as they work to extend their business benefits to other parts of their organization.”
The Model Insurer of the Year award was presented to MEM CIO, Michael Foerst, at Celent’s Insurance Model Carrier Summit: Exchanging Ideas on Effective Use of Technology in New York City. The award was presented by analyst firm Celent and was designed to honor companies demonstrating technology best practices at an insurance company.
The Celent Model Insurer 2010: Case Studies of Effective Technology Use in Insurance, recognizes 27 insurance technology initiatives as “Model Insurer Components” and names Missouri Employers Mutual Insurance the Model Insurer of the Year. These best practices in the use of technology span key areas of the product and policyholder life cycle, including product definition, distribution, underwriting, policy administration, service, claims, and infrastructure. The report also reviews IT best practices and measurable business results used in evaluating the Model Insurer Components. Members of Celent's Property/Casualty Insurance and Life/Health Insurance research services can download the report at http://www.celent.com/124. Non-members should contact info celent.com for more information.
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.