Guidewire Software, a provider of software products to Property/Casualty (P/C) insurers, today announced that Farmers InsuranceS, one of the nation’s largest multiline insurers, has selected Guidewire PolicyCenter and Guidewire Rating Management for its Personal Lines business.
Farmers Insurance had $18.6bn in direct written premium in 2014.
The technology platform will integrate various underwriting and policy administration systems to accelerate the insurer’s customer-centric approach to serving consumers and will help Farmers agents and employees to efficiently deliver a positive customer experience.
"This is a big step forward for Farmers and our customers. Farmers is focused on making customers smarter about their insurance decisions, and our investment in the right technology helps us keep that promise," said Jeff Dailey, chief executive officer, Farmers Group, Inc.
"We’re looking forward to working with Guidewire, and to putting additional technological muscle behind our customer-focused philosophy and practices."
"Guidewire is honored to be entrusted to serve as the core policy system to Farmers, a pre-eminent top tier insurer," said Marcus Ryu, chief executive officer, Guidewire Software.
"The Farmers brand, scale, breadth of products, national agent network and employees are great assets in adapting and succeeding in an ever more dynamic and digital future for the property and casualty industry. We are committed to serving Farmers in this journey and for many years beyond."
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.