Dallas, Texas 09/13/2013 (Financialstrend) – On 11 September, Software product provider, Guidewire Software Inc (NYSE:GWRE) and a Property/Casualty Insurer in Indiana and Ohio, Western Reserve Group, announced that the Western Reserve Group has chosen Guidewire InsuranceSuite TM as the new platform for underwriting, rating, policy-administration, claims management and billing.
In addition, Guidewire Reinsurance Management TM, Guidewire Client Data Management TM and Guidewire Standards-based Templates have also been selected. Western Reserve Group will implement the entire suite in a phased manner beginning with the commercial lines.
Western Reserve Group is committed to the independent-agency distribution model for running its business and picked InsuranceSuite to raise its automation levels. It will also be easier for agents to use the new platform. The company was looking for a pre-integrated suite of products and the ones that GWRE had were perfect for the task.
These products will help in reducing the company’s expenses, simplify its infrastructure and time to market. Western Reserve Group also wanted to stay current and become current in a more strategic manner in order to meet customer needs more effectively.
The right choice
The vice-president, IT and chief information officer of the Group, Gregory Owen said that they selected GWRE to partner with their business transformation-project for various different reasons. They were impressed with the maturity of the company’s products and impressed with their track record or customer-success. He added that they also knew that Guidewire is very committed to making new investments in technology. As a matter of fact, this was the primary reason for their decision.
The product suite
The Guidewire InsuranceSuite powers all the mission-critical operations of casualty/property insurers that compete in the current market. This suite had been designed with the use of a modular approach. It enabled insurers to choose individual applications — Guidewire BillingCenter®, Guidewire PolicyCenter® and Guidewire ClaimCenter®. Alternatively, they can opt for a pre-integrated set based on their priorities and requirements.