Guidewire Signs Texas Windstorm Insurance Association

The Texas Windstorm Insurance Association (TWIA), insurer of last resort for windstorm and hail coverage in the coastal counties of Texas, has signed with Guidewire Software to use its BillingCenter to deploy direct bill functionality to automate policy renewal billing and agency bill functionality to better manage agent commissions. BillingCenter will replace TWIA’s existing billing capabilities, which are currently provided by the company’s policy administration system.

TWIA was established by legislative mandate to provide wind and hail insurance for Texas gulf coast property owners in the event of catastrophic loss. The company’s purpose is to provide “basic” coverage unavailable in traditional markets for consumers who might otherwise be left uninsured. TWIA recognized that more could be done for its policyholders through business and service-level improvements. The company selected Guidewire BillingCenter for its comprehensive functionality and for the system’s ease of use and maintenance.

“We found Guidewire BillingCenter to be a comprehensive billing system that provides all the flexibility we need to meet the unique requirements of our business,” says Susan Renshaw, CFO, Texas Windstorm Insurance Association. “Separating the billing functionality from our policy administration system will provide us with the foundation to better tailor our billing operations and focus our efforts on providing the best possible service to our policyholders and agents.”

BillingCenter is designed to enable TWIA to:

•    Streamline renewal billing
•    Reduce development expenses associated with direct billing
•    Readily configure system changes with in-house IT staff
•    Better manage agent commissions

•    Enhance customer service for policyholders and agents
•    Meet its board mandated technology vision

Guidewire BillingCenter is a 100% Web-based system-of-record 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 legacy systems or third party applications.

“We are pleased that TWIA recognizes the contribution BillingCenter can help them make in improving customer service and streamlining their billing processes,” says John Raguin, CEO, Guidewire Software.