Guidewire PolicyCenter® to help Canadian Property/Casualty insurer increase its operational efficiencies
Quebec City, QC (May 16, 2014) – Promutuel Insurance, one of Quebec’s largest Property/Casualty insurers, and Guidewire Software, Inc., a provider of software products to P&C insurers, have announced that Promutuel Insurance has selected Guidewire PolicyCenter® as its new underwriting and policy administration solution. Promutuel Insurance has also selected Guidewire Rating and Guidewire Reinsurance Management™. PolicyCenter will be used for Promutuel Insurance’s commercial and farm lines of business. Guidewire PartnerConnect™ Affiliate member, V-NEO, has been selected to lead the implementation project, with Guidewire working in close collaboration.
After successfully deploying Guidewire ClaimCenter® as part of a larger ongoing business transformation initiative, Promutuel Insurance shifted its focus to updating its underwriting and policy administration platform to increase its operational efficiencies. The company was looking for a system to help it automate several business processes eliminating clerical tasks and synchronize its underwriting and policy administration efforts across its network of 26 mutual insurance associations.
“The process of selecting PolicyCenter was quick and easy for us due to the success of our ClaimCenter deployment project and our relationship with Guidewire,” said Benoit Duchesne, business project director at Promutuel Insurance.
PolicyCenter will enable Promutuel Insurance to:
- Enhance operational efficiency through automation across underwriting and policy administration processes;
- Obtain more precise control, consistency, and responsiveness over rating and pricing through all phases of the product lifecycle;
- Leverage built-in best practices in business processes and services to standardize across its mutual companies; and
- Provide more efficient, accurate customer service and better identify opportunities for cross- and up-selling.
“We are looking forward to experiencing the benefits that PolicyCenter’s rich set of features and functionality will bring to us,” continued Duchesne.
“We are honored that Promutuel Insurance has extended its Guidewire selection to include PolicyCenter,” said Steve Sherry, group vice president, Americas Sales, Guidewire Software. “We recognize Promutuel Insurance’s commitment to increasing their operational efficiencies and streamlining their business processes and look forward to working with them on this project.”
Guidewire PolicyCenter® is a flexible underwriting and policy administration system that enables property/casualty insurers to grow business profitably by improving efficiency, while responding with agility to market opportunities and enhancing relationships with agents and customers. Designed to support both commercial and personal lines, PolicyCenter helps insurers streamline front and back office processes, from new business submission and quoting through policy renewals. PolicyCenter is available as a standalone system or as part of Guidewire InsuranceSuite™, and can be integrated to an insurer’s legacy systems or third party applications.
About Promutuel Insurance
Promutuel Insurance is among the largest property and casualty insurers in Quebec. Known for its financial strength, high quality products and customer service excellence, it employs more than 1,750 people and serves some 575,000 insureds. Promutuel Insurance’s mission is to promote and offer insurance products that meet the needs of its clients. It is committed to offering personalized quality service and to promoting the mutualist values that have guided its activities for more than 160 years.
About Guidewire Software
Guidewire (NYSE: GWRE) builds software products that help Property/Casualty insurers replace their legacy core systems and transform their business. Designed to be flexible and scalable, Guidewire products enable insurers to deliver excellent service, increase market share and lower operating costs. Guidewire InsuranceSuite™ provides the core systems used by insurers as operational systems of record. Additional products provide support for data management, business intelligence, anytime/anywhere access and guidance and monitoring. More than 150 Property/Casualty insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com.