American Modern Insurance Group, a specialty insurer based in Ohio, has selected Guidewire Software’s InsuranceSuite for underwriting and policy administration, as well as claims, billing, payment, and commissions’ management.
InsuranceSuite systems will use Guidewire's Client Data Management to deliver the customer contact data to PolicyCenter for underwriting, BillingCenter for billing management and ClaimCenter for claims management.
"The rich, out-of-the-box features of PolicyCenter and BillingCenter were very attractive to us,” states John Spritzky, assistant vice president of business enablement at American Modern in a release. “We also appreciate Guidewire’s model of measuring conformance, so that we will know if we are veering away from what we are trying to do with the out-of-the-box functionality and customization.”
[Check out: How Nationwide's Guidewire Deal Impacts the Whole Insurance Industry to learn more.]
InsuranceSuite highlighted by American Modern include full-policy lifecycle servicing, faster quoting, issuance based on prefill capabilities, standardizing underwriting, policy administration and billing management on a common platform, and configuration of features and functionality.
BillingCenter includes automated functionality as well as the ability to integrate with external payment systems. ClaimsCenter allows automation of low-level tasks.
PolicyCenter, BillingCenter, and ClaimsCenter are the components of InsuranceSuite, and can be used independently of one another. Client Data Management works with InsuranceSuite components to organize client contact information.
Zarna Patel is a staff writer for InformationWeek's Financial Services brands, which include Bank Systems & Technology, Insurance & Technology and Wall Street & Technology. She received her B.A. in English and journalism from Rutgers University College of Arts and Sciences in ... View Full Bio