CompSource Oklahoma Selects Guidewire Solution for Underwriting, Policy Administration, Rating, Billing and Claims Management

CompSource Oklahoma, the leading provider of workers' compensation insurance in Oklahoma, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty insurers, today announced that CompSource has selected Guidewire InsuranceSuite™ including Guidewire Client Data Management™ as its new platform for underwriting and policy administration, rating, billing, claims, and customer contact management. PwC US, a Guidewire PartnerConnect alliance member, will also work with CompSource on the implementation.

CompSource is investing in its technology infrastructure and has selected Guidewire InsuranceSuite to help increase its operational efficiencies and maintain a high level of service, to both policyholders and agents.

“CompSource is committed to being a valuable resource to the Oklahoma business community and providing policyholders, agents and injured workers with exceptional customer service,” said Jason Clark, president and chief executive officer, CompSource. “In order to successfully execute our vision going forward, we needed to increase our operating efficiency and technological capabilities through a system conversion. We ultimately selected Guidewire as our business partner because we were impressed with the depth and breadth of InsuranceSuite’s features and functionality as well as with the knowledge and dedication of the Guidewire team.”

InsuranceSuite will enable CompSource to:

• Increase customer service levels by offering options that best suit customer communications preferences;

• Enhance operational efficiency across the organization by standardizing policy administration, billing management and claims handling processes on a common platform; and

• More easily address the organization’s specific requirements leveraging the solution’s configurable features and functionality.

“We are pleased to welcome CompSource Oklahoma to the Guidewire family as an InsuranceSuite customer,” said Jeremy Henrickson, vice president, Product Development, Guidewire Software. “We recognize CompSource Oklahoma’s commitment to its customers, and we look forward to working with them to help them meet their business and IT objectives through this project.”

Guidewire InsuranceSuite powers the mission-critical operations of property/casualty insurers competing in today’s market. The suite was designed using a modular approach, enabling insurers to select individual applications -- Guidewire PolicyCenter®, Guidewire BillingCenter®, and Guidewire ClaimCenter® -- or a pre-integrated set, driven by their requirements and priorities. InsuranceSuite provides the flexibility insurers need to deliver insurance the way they want to, by rapidly delivering better products and service to their policyholders and agents, while improving underwriting discipline and lowering operational costs.