Workers’ compensation carrier goes into production with second Guidewire product to streamline end-to-end billing process
ALBUQUERQUE, NM and SAN MATEO, CA, April 9, 2009 � New Mexico Mutual, the largest workers� compensation insurer in the state of New Mexico, and Guidewire Software®, a global provider of solutions to property and casualty and workers� compensation insurers, today announced that New Mexico Mutual has successfully deployed Guidewire BillingCenter® as its new billing system. BillingCenter is managing the end-to-end billing process including payments, collection agency management and agent commissioning and has replaced New Mexico Mutual�s legacy billing system. BillingCenter is in use by 40 internal users, across the billing, underwriting, accounting and claims departments.
New Mexico Mutual provides access to quality, cost-effective workers� compensation insurance and services for customers in New Mexico. The company is dedicated to providing the highest quality of service to its policyholders and their employees. Recognizing the limitations its legacy billing system placed on customer service and operations, New Mexico Mutual selected Guidewire BillingCenter as a flexible, modern alternative.
“Guidewire BillingCenter has all of the features we were looking for in a billing system and more,� said Lynn Krueger, Billing and Collection manager, New Mexico Mutual. �We live in the system and are enjoying the enhancements it brings to our daily lives and the service level improvements we are able to share with our agents and policyholders.”
BillingCenter provides New Mexico Mutual with real-time billing and payment data at the individual policy level in addition to the account level, making it easy for the company�s billing representatives to get accurate and fast detail to better serve their customers.
With BillingCenter, New Mexico Mutual can:
- Automate its billing lifecycle while incorporating desired best business practices;
- Readily implement system changes in-house without vendor involvement;
- Access payment information in real-time for enhanced customer service;
- Better manage agent commissions; and
- Proactively manage its collection agency interactions.
“Guidewire�s technology platform is well designed and architected,� said Tim Thackaberry, director of Information Technology, New Mexico Mutual. �We first encountered the flexibility of Guidewire products with our ClaimCenter implementation. BillingCenter is equally as configurable enabling us to tailor the system to meet our needs.”
“We have been very pleased by the market�s adoption of BillingCenter and thank New Mexico Mutual for believing in the product early on,� said John Raguin, chief executive officer, Guidewire Software.
Guidewire BillingCenter is a 100% web-based comprehensive billing system designed to: make it easier for insurers to manage agent commissions; automate the billing lifecycle; design flexible billing, payment and delinquency plans; and enable rapid integration with external payment systems – i.e. EFT, EBPP, check writing, payroll deduction, etc. BillingCenter is available as a standalone system or as part of the Guidewire Insurance Suite™ and can be integrated to an insurer�s existing systems or third party applications.
About New Mexico Mutual
New Mexico Mutual was created to stabilize the workers� compensation market by offering New Mexico employers affordable and competitive workers� compensation coverage. Since its founding in 1991, New Mexico Mutual has become the largest provider of workers� compensation insurance in the state, insuring close to 30% of the insured company market in New Mexico. Insuring all types of business, with special attention to small and medium sized businesses, New Mexico Mutual enjoys a strong and loyal partnership with over 300 agents across the state and strives to provide access to quality, cost-effective workers� compensation insurance and services for our customers. Visit New Mexico Mutual online to learn more: www.newmexicomutual.com.
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, Toronto, and Tokyo. For more information, please visit www.guidewire.com.