Farm Bureau Mutual Insurance Company of Idaho Selects Guidewire Cloud to Deliver More Value for Business Growth

Rhea-AI Summary

Guidewire (NYSE: GWRE) has partnered with Farm Bureau Mutual Insurance Company of Idaho, selecting InsuranceSuite on Guidewire Cloud for core operations. This move aims to enhance IT efficiency, adapt to market changes, and improve service delivery to agents and policyholders. CEO Todd Argall emphasized the importance of resource management and flexibility, enabling integration with leading insurtech solutions. The partnership underscores Guidewire's commitment to fostering innovation in the insurance sector.

Positive

• Farm Bureau Mutual Insurance Company of Idaho selected Guidewire Cloud for core operations, enhancing efficiency.
• The partnership allows for integration with best-in-class insurtech solutions, promoting innovation.

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• None.

POCATELLO, Idaho & SAN MATEO, Calif.--(BUSINESS WIRE)--

Farm Bureau Mutual Insurance Company of Idaho (FBM Idaho), the state’s largest domestic personal lines insurer, and Guidewire (NYSE: GWRE) announced that FBM Idaho selected InsuranceSuite on Guidewire Cloud to power core operations, simplify IT operations, quickly adapt to changing market demands, and deliver more value to its agents and policyholders. A Guidewire self-managed customer since 2010, the company plans to migrate InsuranceSuite to Guidewire Cloud across the entire organization at the same time.

“As a regional insurance organization, we need to make sure that we're maximizing resources, and we feel that Guidewire Cloud aligns with our long-term strategy and goals to leverage the capabilities of a broader organization to move us forward and allow us to compete effectively against competitors of all sizes,” said Todd Argall, executive vice president and chief executive officer, FBM Idaho. “Guidewire Cloud offers us resource flexibility and cost management by enabling us to stay current on Guidewire’s latest technologies and innovations, while devoting less time to system maintenance and upgrades.”

Argall added, “InsuranceSuite’s management reporting capabilities are very impressive in the Guidewire Cloud environment to enhance what our team has done. CustomerEngage and ProducerEngage will enable us to take the system to the next level of usability and maximize the experience our agents and customers have in working with us. Another big advantage of Guidewire Cloud is that it will offer us tremendous flexibility to integrate with the best-in-class insurtech solutions in the Guidewire PartnerConnect ecosystem and advance our transformation.”

“We admire FBM Idaho’s 75 years of service as one of Idaho’s leading auto insurers, the largest writer of farm and ranch insurance in the state, and the largest personal lines insurance company wholly based there,” said John Mullen, president and chief revenue officer, Guidewire. “We appreciate the company’s partnership and their confidence in leveraging InsuranceSuite on Guidewire Cloud to amplify their reputation as a company that helps its neighbors.”

About Farm Bureau Mutual Insurance Company of Idaho

Celebrating 75 years of protecting what matters most in Idaho, Farm Bureau Mutual Insurance Company of Idaho is one of Idaho’s leading auto insurers, the second largest writer of all insurance lines in Idaho, the largest writer of farm and ranch insurance in the state, and the largest personal lines insurance company based solely in Idaho. The company was recently recognized by Forbes as Idaho’s “Best-In-State” insurance company for homeowners insurance. For more information, visit: www.idahofarmbureauinsurance.com.

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. ​We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 500 insurers in 38 countries, from new ventures to the largest and most complex in the world, run on Guidewire.

As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.

For more information, please visit http://www.guidewire.com/ and follow us on Twitter and LinkedIn.

NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221013005078/en/

Diana Stott

Director, Communications

Guidewire Software, Inc.

+1.650.781.9955

dstott@guidewire.com

Mike Myers

Senior Marketing Specialist

Farm Bureau Mutual Insurance Company of Idaho

208-239-4276

mmyers@idfbins.com

Source: Guidewire Software

FAQ

What is the significance of Guidewire's partnership with Farm Bureau Mutual Insurance Company of Idaho?

The partnership enhances Farm Bureau's IT operations and service delivery through Guidewire Cloud, allowing for better resource management and flexibility.

How does Guidewire Cloud benefit Farm Bureau Mutual Insurance Company of Idaho?

Guidewire Cloud offers resource flexibility, cost management, and access to the latest technologies, improving overall operational efficiency.

What does the selection of InsuranceSuite on Guidewire Cloud indicate about Farm Bureau's future plans?

It indicates a strategic goal to leverage advanced technology for enhancing service to agents and policyholders and to remain competitive.

What is the primary goal of migrating to Guidewire Cloud?

The primary goal is to simplify IT operations, quickly adapt to market demands, and deliver greater value to agents and policyholders.

What impact does this partnership have on Guidewire's market position?

This partnership reinforces Guidewire's presence in the property and casualty insurance market, showcasing its commitment to innovation and customer success.