ALBUQUERQUE, N.M. & FOSTER CITY, Calif.--(BUSINESS WIRE)--New Mexico Mutual Group, the leading workers’ compensation carrier in New Mexico, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty (P/C) insurers, today announced that New Mexico Mutual Group has selected Guidewire PolicyCenter® as its new underwriting and policy administration solution. New Mexico Mutual Group has also selected Guidewire Rating Management™ and Guidewire Client Data Management™.
New Mexico Mutual Group is currently implementing PolicyCenter to help modernize its systems and transform its business processes. Specifically, the company sought to increase its flexibility and take advantage of the solutions’ real-time functionality and built-in best practices. New Mexico Mutual Group had successfully deployed Guidewire ClaimCenter® in 2006 and Guidewire BillingCenter® in 2008.
“PolicyCenter will give New Mexico Mutual Group the ability to get to market faster, and improve service excellence to our customers and independent broker network,” said Ryan Inzenga, CPCU, Underwriting Manager, New Mexico Mutual Group. “We have partnered with Guidewire for the better part of a decade and we’re looking forward to continuing that relationship and standardizing our core systems on Guidewire InsuranceSuite.”
PolicyCenter will enable New Mexico Mutual Group to:
- Improve service levels for customers and brokers due to increased operational efficiencies;
- Leverage automated underwriting rules and real-time functionality to optimize risk assessment; and
- Benefit from a suite of smartly integrated systems built on a modern technology platform designed to grow and change with its business.
“From a technical perspective, we’re excited at the prospect of having a fully integrated core system suite in place,” said Tim Thackaberry, Director of Information Technology, New Mexico Mutual Group. “Additionally, with PolicyCenter we have a modern system with market-leading configuration capabilities, giving us the potential for a vast number of technical and business benefits."
“We welcome New Mexico Mutual Group as a full Guidewire InsuranceSuite customer, and we are pleased to extend our relationship with them,” said Steve Sherry, Group Vice President, Americas Sales, Guidewire Software. “We admire New Mexico Mutual Group's dedication to providing their policyholders and brokers with excellent products and services, and we look forward to helping them meet their current and future business objectives.”
Guidewire PolicyCenter® is a flexible underwriting and policy administration system that enables Property/Casualty insurers to grow business profitably by improving efficiency, while responding with agility to market opportunities and enhancing relationships with agents and customers. Designed to support both commercial and personal lines, PolicyCenter helps insurers streamline front- and back-office processes, from new-business submission and quoting through policy renewals. PolicyCenter is available as a standalone system or as part of Guidewire InsuranceSuite™, and can be integrated into an insurer’s legacy systems or third-party applications.
About New Mexico Mutual Group
New Mexico Mutual Group was created to stabilize the workers’ compensation market by offering New Mexico employers affordable and competitive workers’ compensation coverage. Since its founding in 1991, New Mexico Mutual Group has become the largest provider of workers’ compensation insurance in the state, insuring close to 30% of the insured company market in New Mexico. Insuring all types of business, with special attention to small and medium sized businesses, New Mexico Mutual Group enjoys a strong and loyal partnership with over 300 agents across the state and strives to provide access to quality, cost-effective workers’ compensation insurance and services for our customers. Visit New Mexico Mutual Group online to learn more: www.newmexicomutual.com.
About Guidewire Software
Guidewire builds software products that help Property/Casualty insurers replace their legacy core systems and transform their business. Designed to be flexible and scalable, Guidewire products enable insurers to deliver excellent service, increase market share and lower operating costs. Guidewire InsuranceSuite™ provides the core systems used by insurers as operational systems of record. Additional products provide support for data management, business intelligence, anytime/anywhere access and guidance and monitoring. More than 180 Property/Casualty insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, and Guidewire BillingCenter are registered trademarks of Guidewire Software, Inc. in the United States and/or other countries.