Farm Bureau Mutual Insurance Company of Idaho (FBM Idaho), a property/casualty insurer, has selected Guidewire Software's Guidewire PolicyCenter as its new policy administration and underwriting solution and Guidewire BillingCenter as its new billing system.
FBM Idaho had previously selected Guidewire ClaimCenter. Together these Guidewire Insurance Suite applications will replace functionality currently performed by the carrier’s all-in-one policy, billing, and claims system.
According to the Guidewire, its modular applications, built on a shared platform, PolicyCenter and BillingCenter will provide FBM Idaho with the focused functionality of applications along with the technology and user benefits of integrated systems.
Guidewire PolicyCenter is an underwriting and policy administration system designed to empower personal and commercial lines carriers to deliver insurance the way they want. PolicyCenter helps insurers grow profitably by increasing underwriting effectiveness, improving efficiency and lowering expenses, while responding with agility to market opportunities and enhancing customer and agent relationships.
Guidewire BillingCenter is a comprehensive billing system for all lines of P&C insurance and is designed to make easier for insurers to automate the billing lifecycle; design flexible billing, payment and delinquency plans; manage agent commissions; and enable rapid integration with external payment systems.
Tim Stronks, vice president of personal Lines at FBM Idaho, said: “PolicyCenter and BillingCenter will enable us to personalize the communications and level of service we provide.”
John Raguin, CEO of Guidewire Software, said: “By selecting the Guidewire Insurance Suite to run its operations, Farm Bureau Mutual Insurance of Idaho will have a strong foundation on which to grow and operate its business efficiently and effectively.”