Mercury Insurance Group ([Mercury] Mercury General Corp) (NYSE: MCY), a
multi-line insurer, and Guidewire Software, Inc. (NYSE: GWRE), a
provider of flexible, core system software to property/casualty
insurers, today announced that Mercury has deployed Guidewire
InsuranceSuite™ as its new underwriting, policy administration, billing
and claims platform beginning with two key lines of business in several
selected states.
Mercury selected InsuranceSuite to increase business agility and help
the company expand its market footprint, beginning with its homeowner’s
line of business in new and existing states. InsuranceSuite will also
allow Mercury to further simplify the way in which it does business with
agents and customers, including support for flexible payment plan
options. Mercury is now in production with InsuranceSuite for its
homeowner’s line of business in six states and for commercial auto in
five states. Currently there are approximately 4,000 agents and 1,000
in-house users live on InsuranceSuite.
“We believe we will make the most of our investment by implementing a
packaged set of solutions from one vendor,” said Allan Lubitz, senior
vice president and chief information officer, Mercury. “We felt
Guidewire’s PolicyCenter, BillingCenter, and ClaimCenter, were very
strong as individual offerings, but together they would provide even
more benefits, such as greater flexibility for business expansion and a
simplified maintenance process.”
“From additional operational efficiencies to quicker, paperless
transactions, we are excited about the opportunities Guidewire
InsuranceSuite provides Mercury,” continued Lubitz. “Due to the
capabilities InsuranceSuite offers, we now can do business anytime,
anywhere.”
InsuranceSuite is enabling Mercury to:
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Expand business to new states and lines of business consistently and
efficiently;
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Make product and rate changes quickly to increase responsiveness to
the market;
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Increase underwriting and claims accuracy and efficiency through
straight-through processing, automated work assignment and task
management;
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More easily manage regulatory compliance; and
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Provide high levels of service to customers and agents.
“We congratulate Mercury on its successful implementation of Guidewire
InsuranceSuite,” said Marcus Ryu, chief executive officer, Guidewire
Software. “We recognize that Mercury has a strong tradition of
innovation and customer service excellence, and InsuranceSuite will help
the company to further extend its reputation in these areas.”
Guidewire InsuranceSuite powers the mission-critical operations of
property/casualty insurers competing in today’s market. The suite was
designed using a modular approach, enabling insurers to select
individual applications -- Guidewire PolicyCenter®, Guidewire
BillingCenter®, and Guidewire ClaimCenter® -- or a
pre-integrated set, driven by their requirements and priorities.
InsuranceSuite provides the flexibility insurers need to deliver
insurance the way they want to, by rapidly delivering better products
and service to their policyholders and agents, while improving
underwriting discipline and lowering operational costs.
About Mercury Insurance Group
Mercury Insurance Group (NYSE-MCY) is a multiple line insurance
organization offering predominantly personal automobile and homeowners
insurance through a network of independent producers in the country’s
top insurance markets. Mercury is focused on providing its policyholders
with high quality insurance products at an affordable rate, while also
providing its customers with industry-leading service and protection.
For more information, visit the Company’s website at www.mercuryinsurance.com.
About Guidewire Software
Guidewire Software is a provider of core system software to the global
general (Property/Casualty) insurance industry. Designed to be flexible
and scalable, Guidewire solutions give insurers the capability to
deliver excellent service, increase market share and lower operating
costs. Guidewire InsuranceSuite™, consisting of Guidewire PolicyCenter®,
Guidewire ClaimCenter® and Guidewire BillingCenter® spans the key
functional areas in insurance – underwriting and policy administration,
claims management, and billing. Guidewire is headquartered in San Mateo,
California, with offices in Beijing, Dublin, Hong Kong, London, Munich,
Paris, Sydney, Tokyo, and Toronto. For more information, please visit www.guidewire.com.
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire
PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite, Deliver
Insurance Your Way, Guidewire PartnerConnect and the Guidewire logo are
trademarks or registered trademarks of Guidewire Software, Inc.
