DALLAS, Texas, and SAN MATEO, Calif., April 1, 2008 – GAINSCO, INC., a nonstandard personal auto insurance holding company (�GAINSCO�), and Guidewire Software®, a leading global provider of solutions to property and casualty insurers, today announced that GAINSCO has successfully deployed Guidewire ClaimCenter® as its new end-to-end claims handling system for all auto claims. ClaimCenter is now in production use by the company�s 175 claims staff who are distributed across three regional claims centers. Full retirement of GAINSCO�s existing legacy claim system is planned by the end of 2008.
The insurer selected Guidewire ClaimCenter due in large part to the system�s scalability, breadth and depth of functionality, and its modern technology architecture (Java for the J2EE Standard). Designed and developed as a web-based system, ClaimCenter fit well with GAINSCO�s corporate technology strategy.
�We found Guidewire ClaimCenter to be significantly ahead of other systems on the market,� said Phil West, GAINSCO�s chief information officer and senior vice president. �Our Guidewire implementation project was the smoothest we have ever experienced � and it came in both on time and on budget.�
ClaimCenter has positioned the GAINSCO claims organization to:
- Enhance service to customers;
- Improve adjustor efficiency and effectiveness;
- Reduce indemnity costs;
- Remove technology limitations from being a deterrent to optimal business practices;
- Utilize on-demand versus batch reporting for real-time management of claims; and
- Self-manage a wide variety of configuration changes, resulting in quicker modifications and a reduced dependence on IT.
�Guidewire ClaimCenter provides the capability for our claims adjusters to work more effectively,� said Greg Castleman, senior vice president, Claims, GAINSCO. �ClaimCenter uses business rules to allow us to automate workflows and tasks in order to enhance our ability to leverage best practices across our organization. Additionally, real-time management information affords the opportunity to identify and address handling and process issues before impacting service or financial outcomes.�
Guidewire ClaimCenter is a leading end-to-end claims system for property and casualty and workers� compensation insurance. ClaimCenter�s flexible business rules enable claims organizations to optimize and monitor the claim process. Claims executives can define, enforce, and continually refine their preferred claim handling practices. In addition, a modern technology architecture, providing 100% web client, and web services interface enable lower total cost of ownership in any environment.
�GAINSCO is a perfect example of a company that recognized a pressing business need and took immediate action,� said John Raguin, chief executive officer, Guidewire Software. �They were committed to implement ClaimCenter quickly and are now enjoying the positive business and technology benefits that will help them drive their claims operation forward.�
GAINSCO, INC. is a Dallas, Texas-based holding company. The Company, through its insurance brand, GAINSCO Auto Insurance, distributes nonstandard personal automobile insurance products through independent retail agents in Florida and South Carolina (Southeast Region), Texas (South Central Region) and Arizona, Nevada and New Mexico (Southwest Region), and through an independent managing general agency in California (West Region). Its insurance company subsidiary is MGA Insurance Company, Inc. For more information, please visit www.gainsco.com.
Some of the statements made in this release may be forward-looking statements. Forward-looking statements relate to future events or future financial performance and may involve known or unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. These forward-looking statements reflect current views but are based on assumptions and are subject to risks, uncertainties, and other variables which should be considered when making an investment decision.
About Guidewire Software
Guidewire Software is a leading global provider of technology solutions to property and casualty and workers� compensation insurers. Guidewire delivers proven software to run core insurance operations, including billing, underwriting, policy, and claim management. The Guidewire Insurance Suite™ consists of Guidewire ClaimCenter®, Guidewire PolicyCenter®, and Guidewire BillingCenter®, which provide a modern, web-based platform for all lines of business. Guidewire is headquartered in San Mateo, California, USA, with offices in London, Munich, Paris, Sydney, Tokyo, and Toronto. For more information, please visit www.guidewire.com.