BearingPoint Completes Implementation of Guidewire Claims System for CompWest Insurance Company.MCLEAN, Va. -- BearingPoint, Inc. (NYSE NYSE See: New York Stock Exchange :BE), one of the world's largest management and technology consulting firms Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a , and Guidewire Software([R]), a leading global provider of solutions to property and casualty and workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. insurers, today announced that they have completed the seven-month implementation of a new claims system for CompWest Insurance Company, a San Francisco-based provider of workers' compensation insurance serving the Western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . The BearingPoint team, working with Guidewire, leveraged its tested, proprietary delivery framework templates and project accelerators to deliver the ClaimCenter project on time. BearingPoint implemented Guidewire ClaimCenter([R]), a 100% Web-based claims system, to enable CompWest to better manage costs and drive efficiencies associated with claims handling and processing. The system will allow CompWest to expand adjusting capabilities, maximize operational efficiency, improve overall cost-effectiveness and focus on the care of injured in·jure tr.v. in·jured, in·jur·ing, in·jures 1. To cause physical harm to; hurt. 2. To cause damage to; impair. 3. workers. In addition, BearingPoint will host the ClaimCenter application, enabling more efficient maintenance of the solution. "We are very happy with the success of the ClaimCenter implementation," said Mike Knibbs, Director of Information Technology at CompWest. "Our users are very pleased with the new system, and the new capabilities it provides." "This implementation was a notable success for CompWest, Guidewire, and BearingPoint," said Russ Riggen, managing director at BearingPoint. "This Guidewire implementation project is the first led by a management and technology consulting firm to go into production. The project was fully completed in seven months." "BearingPoint is a valued Guidewire systems integrator. It is through their dedication and expertise, and our joint collaboration, that CompWest is today enjoying its new claims system," said Priscilla Hung, vice president, alliances and corporate development, Guidewire Software. "We congratulate BearingPoint and CompWest on their successful ClaimCenter implementation." About CompWest Insurance Company CompWest Insurance Company specializes in providing workers' compensation insurance and services to mid-size companies through its select network of insurance broker partners in the western United States. To learn more, visit www.compwestinsurance.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 Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. , policy administration, and claim management. The Guidewire Insurance Suite[TM] consists of Guidewire ClaimCenter[R], Guidewire PolicyCenter[R], and Guidewire BillingCenter[R], which provide a modern, web-based platform for all lines of business. Guidewire is headquartered in San Mateo, California San Mateo is a city in San Mateo County, California, in the San Francisco Bay Area. It is one of the larger suburbs on the San Francisco Peninsula, located between Burlingame to the north, Foster City to the East, and Belmont to the south. , with offices in London, Munich, Paris, Sydney, Tokyo, and Toronto. For more information, please visit www.guidewire.com. About BearingPoint, Inc. BearingPoint, Inc. (NYSE:BE) is one of the world's largest providers of management and technology consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" to Global 2000 companies and government organizations in 60 countries worldwide. Based in McLean, Va., the firm has approximately 16,000 employees focusing on the Public Services Public services is a term usually used to mean services provided by government to its citizens, either directly (through the public sector) or by financing private provision of services. , Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and Commercial Services industries. BearingPoint professionals have built a reputation for knowing what it takes to help clients achieve their goals, and working closely with them to get the job done. Our service offerings are designed to help our clients generate revenue, increase cost-effectiveness, manage regulatory compliance, integrate information and transition to "next-generation" technology. For more information, visit the company's Web site at www.BearingPoint.com. Some of the statements in this press release constitute "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on our current expectations, estimates and projections. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, Guidewire BillingCenter, Guidewire Insurance Suite, and the Guidewire logo, are trademarks or registered trademarks of Guidewire Software, Inc. |
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