Multi-line carrier Mercury Insurance Group (Los Angeles) has selected San Mateo, Calif.-based Guidewire Software's Guidewire Insurance Suite as its new policy administration, billing and claims platform for its homeowners business. Guidewire Insurance Suite applications (PolicyCenter, BillingCenter and ClaimCenter) will be deployed simultaneously to enable the carrier to expand its business and enhance customer experience.
"Mercury's goal is to provide great service and market-leading solutions for our agents and customers. We believe it is essential that we make strategic investments in well-architected platforms that are robust, nimble and flexible," said Allan Lubitz, SVP and CIO, Mercury Insurance Group, in a statement. "We selected Guidewire for their reliable track record and integrated core P&C platform that will give us the ability to innovate and allow us to quickly adapt to our customers' changing needs."
Among the benefits Mercury aims to achieve with the Guidewire Insurance Suite are the following:
- Improving the speed at which the company is able to expand its product portfolio and regional focus;
- Increasing efficiency and effectiveness across all aspects of the insurance lifecycle, including account and policy management, underwriting, billing and claims handling operations; and
- Leveraging IT skills across a common technology platform, enabling a quicker response to the needs of the business while also reducing maintenance costs.
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio