Guidewire Congratulates Jewelers Mutual on Being Named a ‘Model Insurer’ in Celent’s 2013 Report

FOSTER CITY, Calif.--(BUSINESS WIRE)--Guidewire Software, Inc. (NYSE: GWRE), a provider of flexible, core system software to Property/Casualty insurers, today announced that its client, Jewelers Mutual Insurance Company (“Jewelers Mutual”), the only company in North America specializing exclusively in insuring jewelers and jewelry, has been named a “Model Insurer” in Celent’s Model Insurer 2013: Case Studies of Effective Technology Use in Insurance report.

“We are extremely proud of the work Jewelers Mutual has done to transform their Personal Lines business, and we are honored to have played a part in the project’s success. We thank Celent for recognizing their achievement with this prestigious honor.”

Jewelers Mutual was recognized in the Infrastructure and Architecture category for redefining how the company services its customers through a complete business and system transformation which included simultaneous implementations of Guidewire InsuranceSuite and a new eCommerce platform. As part of its business transformation project, the company installed a new data warehouse, reporting solution, and document production system, upgraded its document management solution, and also rebranded its Personal Lines product. Jewelers Mutual was also recognized for its best practices of improved channel management; optimization of infrastructure; automation, STP and system integration; and project risk management through proper development, testing and use of project management methodologies.

“The simultaneous implementations of the new eCommerce platform and Guidewire InsuranceSuite were complex but very successful undertakings,” said Karen Monks, an analyst with Celent and author of the report. “The Jewelers Mutual project is an example of how insurers can leverage agile project management methodology, business area support, and specialized teams dedicated to change management, business process redesign, organizational redesign, and human resource management to ensure initiatives of this level are completed on time and within budget.”

“We congratulate Jewelers Mutual on being recognized as a 2013 Model Insurer by Celent,” said Marcus Ryu, chief executive officer, Guidewire Software. “We are extremely proud of the work Jewelers Mutual has done to transform their Personal Lines business, and we are honored to have played a part in the project’s success. We thank Celent for recognizing their achievement with this prestigious honor.”

The Celent Model Insurer 2013: Case Studies of Effective Technology Use in Insurance recognizes 17 insurance technology initiatives as “Model Insurer Components” and names the Celent Model Insurer of the Year. These case studies represent best practices in the use of technology and span key areas of the product and policyholder life cycle, including product definition, distribution, underwriting, policy administration, service, claims, and infrastructure. The report also reviews IT best practices and measurable business results used in evaluating the Model Insurer Components. Members of Celent's research services can download the report at: http://www.celent.com/reports/model-insurer-2013-case-studies-effective-technology-use-insurance. Non-members should contact info@celent.com for more information.

About Jewelers Mutual

Jewelers Mutual Insurance Company is the only company specializing exclusively in jewelry insurance in the United States and Canada. The company's strong financial position is reflected in its 26 consecutive ratings of “A+ Superior” from A.M. Best. Jewelers Mutual was founded in 1913 in Neenah, Wisconsin, by jewelers seeking to meet their unique insurance needs. Today, Jewelers Mutual is the leading insurer of retail jewelers in North America and also insures wholesalers, manufacturers, custom designers, repair businesses, bench jewelers, and appraisers. Approximately 10,000 commercial policyholders insure their jewelry businesses with Jewelers Mutual. Additionally, more than 270,000 individuals trust Jewelers Mutual to protect their jewelry possessions with Jewelers Mutual’s Perfect Circle® insurance product. These individuals collectively carry in excess of $3 billion in personal insurance coverage. Visit the Jewelers Mutual website at www.JewelersMutual.com to learn more.

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 Foster City, California, with offices in Beijing, Dublin, Hong Kong, London, Munich, Paris, Sydney, Tokyo, Toronto and Warsaw. For more information, please visit www.guidewire.com.

NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite, Guidewire Live, Before & After, Guidewire PartnerConnect, Deliver Insurance Your Way, and the Guidewire logo are trademarks, service marks, or registered trademarks of Guidewire Software, Inc. in the United States and/or other countries.