(Covered bridge in Frankenmuth, Mich. Photo credit: Crisco 1492.)
Frankenmuth Insurance has chosen Guidewire’s InsuranceSuite as its new platform for underwriting, rating, policy administration, claims management, billing, client data management and reinsurance, according to the vendor. The Frankenmuth, Mich.-based P&C carrier has also licensed Guidewire DataHub for enterprise-wide data management.
Frankenmuth Insurance’s implementation of the Guidewire capabilities, which will be led by the vendor implementation partner PwC US, is part of an organization-wide transformation initiative. By updating its existing systems, the carrier aims to simplify its infrastructure to reduce system maintenance costs, streamline business processes, and gain the flexibility needed to remain competitive in a rapidly evolving market. Frankenmuth will first deploy InsuranceSuite for commercial lines and then tackle personal lines operations.
“We selected Guidewire because we wanted a tightly integrated suite of products to improve operational effectiveness and efficiency while improving customer service through a client-centric view of policyholder information” comments Philip McCain, VP, IT, Frankenmuth Insurance. “We were impressed with Guidewire’s product maturity, market share, and track record of successful implementations and believe our strategic partnership will assist Frankenmuth in achieving our core purpose: ‘To Provide Peace of Mind’ for years to come.”
Benefits that Frankenmuth can enjoy from implementing the Guidewire products include the following, according to the vendor:
- Grow business seamlessly;
- Enhance operational performance through improved claims processing management and more robust underwriting capabilities;
- Improve speed-to-market through enhanced efficiencies; and
- Drive future enhancement projects and process innovation.