Mountain West Farm Bureau Mutual Insurance, a Wyoming-based multi-line insurer, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty (P/C) insurers, today announced that Mountain West Farm Bureau has selected Guidewire core operations, data and analytics, and digital engagement products to adapt its business for success in today’s rapidly-changing insurance marketplace.
The company is looking to modernize its core system infrastructure and operations in order to reduce system maintenance costs, streamline business processes, and gain the flexibility needed to better address the evolving needs of its agents and customers. BillingCenter will be implemented across all of Mountain West’s lines of business first, followed by ClaimCenter. PolicyCenter will be the final stage in the core system transformation, to be rolled out by line of business in each state where the company does business. Guidewire PartnerConnect™ Consulting member, PwC US, is leading the implementation, with MVP Advisory Group providing advisory services.
Mountain West Farm Bureau has selected Guidewire InsuranceSuite™ along with Guidewire Client Data Management™, Rating Management, Reinsurance Management, and Business Intelligence for InsuranceSuite as its new platform for underwriting, rating, policy administration, reinsurance, billing, claims, client data management, and business intelligence. The company will also leverage Guidewire Quote and Buy Portal for Policyholders™, Account Management Portal for Policyholders, and Claim Portal for Vendors to enhance the digital experience for its policyholders and vendors.
“Guidewire’s product maturity, market share, and track record of successful implementations were important factors in our decision-making process,” said Erick Arens, vice president, Sales and Marketing, Mountain West Farm Bureau. “We are confident that this strategic relationship will provide Mountain West with the ability to grow our business, while continuing to provide dependable insurance coverage to our policyholders.”
The Guidewire platform will enable Mountain West to:
Increase business agility by minimizing custom development and multi-phased approaches to bring new products and product enhancements to market more quickly;
Leverage tools that will eliminate manual processes making it easier for agents to do business with policyholders; and
Enhance operational efficiency and productivity throughout the organization by standardizing policy administration, billing management and claims handling processes on a common platform.
“We were looking for a comprehensive solution that required minimal customization, so the out-of-the-box functionality of InsuranceSuite was especially attractive to us,” said Dan Bleak, vice president, Operations and Underwriting, Mountain West Farm Bureau. “By selecting InsuranceSuite, we will be able to build on the synergies and best practices learned throughout each phase of the implementation process.”
“We are honored that Mountain West has chosen us as their trusted implementation partner,” said Dirk George, principal, PwC. “By selecting Guidewire, Mountain West will take action to meet the needs of its agents, vendors and policyholders in a fast-moving insurance market.”
“We are pleased that Mountain West has selected Guidewire core, data, and digital products,” said Steve Sherry, senior vice president, Worldwide Sales. “These products will provide the foundation to help Mountain West achieve its business objectives. We look forward to working with Mountain West and PwC on this project.”
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.