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 EMPLOYERS DIRECT SELECTS GUIDEWIRE POLICYCENTER AND GUIDEWIRE BILLING CENTER TO SUPPORTEFFICIENCY AND GROWTH Live on Guidewire ClaimCenter, Employers Direct Insurance Company will use the other applications in the Guidewire Insurance Suite to conduct its core operations LAS VEGAS, CA – May 23, 2006 – Employers Direct Insurance Company, a specialty California workers’ compensation insurance carrier, and Guidewire Software®, a leading provider of solutions to property and casualty and workers’ compensation insurers, today announced that Employers Direct has chosen to complete its adoption of the entire Guidewire Insurance Suite with its selection of Guidewire PolicyCenter® and Guidewire BillingCenter®. Built on a web-native technology platform, the Guidewire Insurance Suite will replace legacy systems and provide Employers Direct with shared workflow, integration, and business rule management across underwriting, policy administration, claims, and billing. Continuing its drive for innovation in the workers compensation market, Employers Direct will leverage the Guidewire Insurance Suite's rule-based underwriting and its support of audit-based and loss-sensitive billing models. "Guidewire PolicyCenter and BillingCenter provide us with the key business functionality and flexibility necessary for us to continue to meet our customers’ evolving needs, while the technology platform enables us to continue the advancement of our state-of-the-art core system portfolio," said James E. Little, Chairman/President and CEO of Employers Direct Insurance Company. "Employers Direct will also be able to achieve further operational efficiencies by leveraging the native integration between Guidewire applications." Since July 2005, Employers Direct has been live on Guidewire ClaimCenter, the industry's most comprehensive and flexible web-based system for management of workers' compensation claims. Guidewire PolicyCenter manages underwriting and policy administration processes, including new policy applications, quoting, renewals, changes, cancellations, and reinstatements. Underwriters use PolicyCenter to manage submissions and existing policies, manage producer relationships, generate correspondence, and gain visibility into the key drivers of underwriting performance. Guidewire BillingCenter manages the end-to-end billing process, including complex and customized billing arrangements. Built on a double-entry accounting foundation, BillingCenter receives billing instructions from Guidewire PolicyCenter and determines the amounts due on a policy or account, manages payments made by insureds, links these payments to the amounts due, and manages the commissions payable to agents from these receipts. "The Guidewire Insurance Suite realizes our vision of delivering an integrated, web- based suite of applications for a carrier's most important processes," said Jeff Simpson, chief executive officer, Guidewire Software. “I am delighted that Guidewire will be an enabler of Employers Direct’s quest to be a world-class workers' compensation carrier." About EMPLOYERS DIRECT INSURANCE COMPANY Employers Direct Insurance Company is California's only investor-owned direct writer of workers' compensation insurance - with no agent or broker affiliation. Founded in 2003, Employers Direct has been widely accepted by business owners throughout California as a result of providing highly competitive rates, claims services designed to fight fraud and abuse, and loss prevention services that assist employers to create safe work environments. Employers Direct is proud that a growing number of California’s best-run privately-held companies count themselves as policyholders. Niche industries include hotels, restaurants, country clubs, new car dealers, manufacturing companies, specialty supermarket chains, and retailers. At the end of 2005, Employers Direct Insurance Company had more than $150 million in written workers' compensation premiums. Visit Employers Direct online at http://www.EmployersDirect.com About GUIDEWIRE SOFTWARE Guidewire Software is a leading provider of technology solutions to property and casualty and workers’ compensation insurers. Guidewire delivers proven software to run mission-critical insurance operations, including underwriting, policy administration, and claim management. Guidewire ClaimCenter and Guidewire PolicyCenter provide a modern, web-based platform for all lines of business. For more information, please visit: http://www.guidewire.com. Contacts: Employers Direct Insurance Company Debbie Laskey (818) 575-2709 dlaskey@employersdirect.com Guidewire Software James Kwak (413) 687-2216 |
