FMG, New Zealand's rural insurer, and Guidewire Software, has announced that FMG has successfully deployed Guidewire PolicyCenter as its new underwriting and policy administration solution and Guidewire BillingCenter® as its new billing system.
The organization also implemented Guidewire Client Data Management™ to help give it a comprehensive client view across underwriting, policy administration, and billing processes with Guidewire Rating Management™ for more precise control and responsiveness for rating and pricing.
Guidewire PartnerConnect™ Affiliate Program member, Tenzing Limited, provided specialist Guidewire project management, business analysis, configuration, and integration resources in close collaboration with FMG and Guidewire.
FMG implemented PolicyCenter and BillingCenter to provide a strong foundation to support ongoing business growth, increase its levels of client service, and more quickly bring products to market. The organization also sought systems based on an open technology architecture.
FMG is currently in production with PolicyCenter and BillingCenter across all of its lines of commercial and consumer business after deploying the systems simultaneously.
"Feedback from across the business, including front-line roles and senior managers about PolicyCenter and BillingCenter has so far been very positive," said Geoff Yeats, General Manager Business Information Services, FMG. "Employees are getting through new business work more efficiently and effectively thanks to the capabilities of the systems. For example, having automated underwriting rules for our new business clients, allows our underwriters to spend more time on client needs."
Once FMG completes its client migration, Guidewire PolicyCenter and BillingCenter will allow FMG to:
Make system changes to bring new products to market more quickly and with higher quality to better keep pace with changing business and technical demands;
Streamline its business processes to enhance the agent/client experience and allow underwriters to focus on providing high-value services to clients;
Provide a modern technology platform with automated processing and real-time functionality to allow its employees to do their job quickly and efficiently; and
Standardize policy administration and billing practices for consistency and accuracy.
"We congratulate FMG on their successful implementation of PolicyCenter and BillingCenter," said Ian Tavener, Vice President, Asia Pacific Operations, Guidewire Software. "We are honored to have played a role in helping FMG transform their underwriting, policy administration, and billing operations and build a foundation for future business growth. We look forward to the continued benefits FMG will experience over time."
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 clients. 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 to 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 delinquency 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 Property/Casualty insurer’s legacy systems or third party applications.