New Jersey Manufacturers Insurance Company (NJM), one of the largest auto and workers’ compensation insurer in New Jersey, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty insurers, today announced that NJM has successfully deployed Guidewire PolicyCenter® as its new underwriting and policy administration solution, Guidewire BillingCenter® as its new billing management system and Guidewire Quote and Buy Portal™ to extend self-service capabilities to new and existing personal auto policyholders. NJM, now a fully-deployed Guidewire InsuranceSuite™ customer, has been in production with Guidewire ClaimCenter® since 2007.
NJM sought systems that would be easier to maintain and extend as needed, and help it streamline and improve its processes and system infrastructure. NJM implemented BillingCenter and PolicyCenter for its workers’ compensation line of business in September 2013, and its personal auto line of business went live on January 1, 2015. The insurer implemented Guidewire’s Quote and Buy portal in conjunction with its personal auto rollout as the online quoting and binding capability was a critical requirement for this line of business. NJM plans to extend BillingCenter and PolicyCenter to its renewal business starting in June, and its homeowner and umbrella lines of business later next year.
“The deployment of Guidewire BillingCenter, PolicyCenter and Quote and Buy Portal represents a significant milestone in the company’s long-term business transformation initiative,” said Neil Delaney, NJM’s vice president and chief technology officer. “Feedback from across the business has been very positive so far.”
Guidewire products are enabling NJM to:
Make system changes to improve productivity and bring new products to market more quickly and with higher quality to better keep pace with changing business demands;
Provide a modern technology platform with automated processing and real-time functionality to allow its employees to serve customers quickly and efficiently;
Extend policy quote request, comparison and purchasing capabilities online; and
Standardize policy administration and billing practices for consistency and accuracy.
“The Quote and Buy Portal’s integration with PolicyCenter enables our omnichannel goal of a seamless transition from online to customer service representatives and will improve speed to market of future changes,” said NJM’s Harold Fink, vice president, Program Management Office. “Having access to Guidewire throughout the implementation process has been invaluable, and we look forward to working together on further deployments.”
“We congratulate NJM on the successful implementation of PolicyCenter, BillingCenter and Quote and Buy Portal,” said Mike Polelle, chief delivery officer, Guidewire Software. “We are honored to have played a role in helping NJM transform their underwriting, policy administration, and billing operations and build a foundation for future business growth.”
Guidewire PolicyCenter® is a flexible underwriting and policy administration system that enables general insurers to grow business profitably by improving efficiency, while responding with agility to market opportunities and enhancing relationships with customers and brokers. Designed to support both commercial and personal lines, PolicyCenter helps insurers streamline front- and back-office processes, from new business submission and quoting through to policy renewals. PolicyCenter is available as a standalone system or as part of Guidewire InsuranceSuite™, and can be integrated with an insurer’s legacy systems or third party applications.
Guidewire BillingCenter® is a comprehensive billing and receivables management system built on the core design principles of automation, control and flexibility. BillingCenter allows you to deliver insurance your way by making it easier to automate the billing lifecycle; design flexible billing, payment and payment plans; manage agent commissions; and enable rapid integration with external payment systems. BillingCenter is available as a standalone system or as part of Guidewire InsuranceSuite™, and can be integrated to a general (Property/Casualty) insurer’s legacy systems or third party applications.
Guidewire Mobile and Portals™ is a portfolio of transaction portals that allow insurers to expose Guidewire InsuranceSuite™ functionality online and to mobile devices. Insurers can extend the value of their Guidewire core system investment to drive new business, increase operational efficiency, and improve customer service through digital channels. Each individual product has been developed to meet a targeted need. The Quote and Buy Portal™ allows insurers to reach new customers with easy access to obtain a quote, review and compare quote variations and buy a policy, on any device. The underlying architecture of each product has been designed to enable efficient implementation, allow quick response to market needs and adapt to future technology innovation.
A propos de Guidewire Software
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