FMG Selects Guidewire for Underwriting, Policy Administration and Billing Management

FMG, New Zealand’s preferred rural insurer, and Guidewire Software, Inc. (NYSE: GWRE), a provider of core system software to general (Property/Casualty) insurers, today announced that FMG has selected Guidewire PolicyCenter® as its new underwriting and policy administration solution and Guidewire BillingCenter® as its new billing system. Guidewire Affiliate Program member, Tenzing Limited has been selected to lead the implementation project and will work in close collaboration with FMG and Guidewire.

FMG sought new policy and billing systems to provide a strong foundation to support ongoing business growth, varying methods of interaction with clients, and to bring products to market faster. The company selected PolicyCenter and BillingCenter to provide the functionality and flexibility it needed for continued success in the future.

“We are confident that our selection of Guidewire PolicyCenter and BillingCenter will help us more efficiently manage our underwriting, policy administration, and billing operations. Guidewire’s impressive track record of project success and their specialization in general insurance confirms that they are an ideal partner for us,” said Chris Black, chief executive, FMG.

“We want to make it easy for our clients to work with us whether it is in person, online or over the phone and believe that Guidewire technology will help us do so,” continued Black. “In addition to helping us effectively communicate with our clients, Guidewire’s modern technology platform will help us grow our business and our product offerings.”

With Guidewire PolicyCenter and BillingCenter, FMG will be able to:

• Provide its staff with a modern technology platform to allow them to do their job quickly and efficiently and better support their already excellent service capabilities;
• Improve client service capabilities by providing highly flexible premium billing options;
• Standardize policy administration and billing practices for consistency and accuracy;
• Ensure it has a technology platform to support the delivery of rich, multi-channel client communications; and
• Enable business agility to keep pace with changing industry and market conditions.

“We are pleased to bring our expertise and successful implementation track record to help FMG transform its underwriting, policy administration, and billing operations,” said Ian Tavener, vice president, Asia Pacific Operations, Guidewire Software. “We know that PolicyCenter and BillingCenter will help enable FMG achieve its business objectives and goals, and we are looking forward to seeing them attain success on their project.”

Guidewire PolicyCenter® is a flexible underwriting and policy administration system that enables general (Property/Casualty) insurers to grow business profitably by improving efficiency, while responding with agility to market opportunities and enhancing relationships with agents and customers. 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 general (Property/Casualty) insurer’s legacy systems or third party applications.

About FMG

Formed by farmers for farmers over a century ago, today FMG is New Zealand’s preferred rural insurer. Unlike most insurance companies in New Zealand, which are owned offshore and distribute products and services through brokers, FMG prides itself on being New Zealand owned and operated, and deals directly with its customers. FMG has a proud history of innovation and helping its customers achieve their goals and aspirations. The company is rated “A” (Excellent) by A.M. Best. For more information, please visit www.fmg.co.nz.