LARAMIE, Wyo. & FOSTER CITY, Calif.--(BUSINESS WIRE)--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 Mountain West Farm Bureau Mutual Insurance
Mountain West is a multi-line insurance company, serving the needs of individuals, families, and businesses throughout Wyoming and Montana for over 65 years. Our mission is to provide peace of mind for our customers with competitive, quality products and services. For more information, please visit http://www.mwfbic.com.
About PwC US
PwC US helps organizations and individuals create the value they're looking for. We're a member of the PwC network of firms, which has firms in 157 countries with more than 195,000 people. We're committed to delivering quality in assurance, tax and advisory services. Find out more and tell us what matters to you by visiting us at www.pwc.com/US.
About Guidewire Software
Guidewire delivers the software that Property/Casualty (P/C) insurers need to adapt and succeed in a time of rapid industry change. We combine three elements – core operations, data and analytics, and digital engagement – into a technology platform that enhances insurers’ ability to engage and empower their customers and employees. More than 200 P/C 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, Guidewire BillingCenter, are registered trademarks of Guidewire Software, Inc. in the United States and/or other countries.