Federated Insurance Selects Guidewire Systems to Better Serve Commercial Lines Customers
February 15 2018 - 8:55AM
Business Wire
Guidewire PolicyCenter™ to help enhance
operational efficiency and increase business agility across
commercial lines of business
Federated Insurance, a direct writer of Property and Casualty
(P&C) insurance products, and Guidewire Software, Inc. (NYSE:
GWRE), a provider of software products to P&C insurers, today
announced that Federated has selected Guidewire products to help
modernize and transform the way it operates across its commercial
lines of business. The company selected Guidewire PolicyCenter™ and
Guidewire Rating Management™ as its new underwriting, policy
administration, and rating management system.
Federated Insurance sought to increase its flexibility and take
advantage of the real-time functionality and built-in best
practices of the Guidewire systems. The company will begin
implementing PolicyCenter for its workers’ compensation line of
business, followed by its commercial package policy (CPP) and
business owners policy (BOP) lines of business. PolicyCenter will
eventually be implemented across all commercial lines of business
in the 48 states where Federated operates.
“Guidewire’s product maturity, market share, and track record of
successful implementations were important factors in our
decision-making process,” said Jeff Fetters, chairman of the board
and chief executive officer, Federated Insurance. “We are confident
that our strategic relationship will help Federated continue
providing dependable insurance coverage to our commercial
policyholders.”
Brian Carlson, information system manager, application
development & support, Federated Insurance, said, “From a
technical perspective, we’re excited at the prospect of having a
modern policy administration system in place, giving us the
potential for a vast number of technical and business benefits
through our use of the product and relationship with Guidewire in
general.”
PolicyCenter will enable Federated to:
- Enhance operational efficiency and
productivity throughout the organization by standardizing policy
administration on a modern technology platform designed to grow and
change with its business;
- Reduce total cost of ownership by
reducing effort required for making policy changes; and
- Increase business agility by bringing
new products and product enhancements to market more quickly.
“We welcome Federated Insurance to the Guidewire customer
community,” said Steve Sherry, chief sales officer, Guidewire
Software. “We admire the company’s dedication to protecting its
policyholders, and we look forward to helping them meet their
current and future business objectives.”
About Federated Insurance
Founded in 1904, Federated Insurance is a national insurance and
risk management organization that serves the property, casualty,
and life insurance needs of clients in select industries. The
organization has more than 500 recommendations from state,
regional, and national associations and buying groups and is rated
A+ (Superior) by industry analyst A.M. Best® Company.
At Federated Insurance, It’s Our Business to Protect Yours.® For
more information, please visit
https://www.federatedinsurance.com/.
About Guidewire Software
Guidewire delivers the software that Property and 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 300 P&C insurers around the
world have selected Guidewire. For more information, please visit
www.guidewire.com. Follow us on twitter: @Guidewire_PandC.
NOTE: For all information about Guidewire’s trademarks,
visit https://www.guidewire.com/legal-notices.
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version on businesswire.com: http://www.businesswire.com/news/home/20180215005129/en/
Guidewire Software, Inc.Diana Stott, +1-650-356-4941Director,
Communicationsdstott@guidewire.comorFederated InsurancePatric
Cooper, +1-800-533-0472Executive Vice President, Director of
Communication and Corporate SupportPKCooper@fedins.com
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