Winnipeg, MB (Apr. 27, 2015) – Red River Mutual, a mutual company serving families, farms, and businesses across the Canadian prairie, and Guidewire Software, Inc., a provider of software products to Property/Casualty insurers, have announced that Red River Mutual has selected Guidewire InsuranceSuite® as its underwriting, policy administration, billing, and claims management platform. The company has also selected Guidewire Data and Analytics products, DataHub, InfoCenter, and Guidewire Live™ as well as Guidewire’s Claim Portal for Vendors. Red River Mutual will be accessing these products in a private cloud, with implementation, ongoing services, and support provided by Ernst & Young (EY), a Guidewire PartnerConnect™ Consulting Premier partner.
With the growth in digital expectations, mobile access, and big data, the insurance industry is facing constant change at a pace not seen before. Insurers, large and small, need the tools to be flexible and highly responsive to the needs of their tech-savvy customers and brokers in order to thrive going forward. Red River Mutual is transforming how they do business leveraging Guidewire InsuranceSuite to enhance their commitment to serving their policyholders and brokers. The company selected Guidewire’s Core, Digital, and Data and Analytics portfolios to provide an integrated foundation that works together to provide a holistic experience for their users.
“We are committed to providing our policyholders and brokers the very best service we can,” said Brian Esau, President and CEO, Red River Mutual. “We have found what we believe is the ideal solution with Guidewire’s industry leading product set and commitment to R&D, coupled with EY’s expertise in Guidewire project implementations, hosting and managed services capabilities. This combination will put us on an equal footing with companies much larger in size than we are and it will allow us to focus on what we do best: protect and serve our customers.”
“We are honored by the trust Red River Mutual has demonstrated in hiring EY to configure and integrate our Insurance as a Service solution, powered by Guidewire, which includes managing this solution for Red River Mutual over the upcoming 10 years,” said David Connolly, the EY Partner globally responsible for the Guidewire relationship. “This is a landmark project for EY, as we see a growing interest globally in similar relationships with other insurance carriers.”
With Guidewire’s portfolio of products and EY’s Insurance as a Service solution, Red River Mutual will:
- Leverage comprehensive core system functionality, streamlined best practice workflow capabilities, and enhanced user friendliness;
- Remove the onus of core system management, freeing staff to concentrate on serving customers;
- Gain the ability to make changes quickly with highly configurable, integrated products; and
- Deliver high levels of service to its brokers and policyholders across all touch points.
“Red River Mutual is at the forefront of an emerging industry trend towards leveraging technology and flexible deployment models in order to enhance what they do best – provide a great experience for their policyholders, brokers, and their employees,” said Steve Sherry, Group Vice President, Americas Sales, Guidewire Software. “We applaud the bold steps the company is taking to help ensure their ability to compete in the rapidly changing insurance marketplace and we look forward to working with them and with EY on this project.”
Guidewire InsuranceSuite powers the mission-critical operations of property/casualty insurers competing in today’s market. The suite was designed using a modular approach, enabling insurers to select individual applications — Guidewire PolicyCenter®, Guidewire BillingCenter®, and Guidewire ClaimCenter® — or a pre-integrated set, driven by their requirements and priorities. InsuranceSuite provides the flexibility insurers need to deliver insurance the way they want to, by rapidly delivering better products and service to their policyholders and agents, while improving underwriting discipline and lowering operational costs.
About Red River Mutual Insurance
Red River Mutual is a Prairie success story, having protected families, farms and businesses on the Prairies for 140 years. They are committed to providing competitive insurance products and superior claims service in Manitoba and Saskatchewan. Red River Mutual defines itself as the ‘Modern Mutual’, by investing a portion of company profits back into the community through loss prevention education and through the support of worthy community projects. To learn more, please visit www.redrivermutual.com.
The global EY organization is a leader in assurance, tax, transaction, legal, and advisory services. We leverage our experience, knowledge and services to help build trust and confidence in the financial markets and in economies all over the world. We are ideally equipped for this task – with well trained employees, strong teams, excellent services and outstanding client relations. Our global mission is to drive progress and make a difference by building a better working world – for our people, for our clients and for our communities.
The global EY organization refers to all member firms of Ernst & Young Global Limited (EYG). Each EYG member firm is a separate legal entity and has no liability for another such entity’s acts or omissions. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information, please visit www.ey.com.
EY’s organization is represented in Switzerland by Ernst & Young Ltd, Basel, with ten offices across Switzerland, and in Liechtenstein by Ernst & Young AG, Vaduz. In this publication, ‘EY’ and ‘we’ refer to Ernst & Young Ltd, Basel, a member firm of Ernst & Young Global Limited.
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 180 Property/Casualty insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com.
Source: GuidewireTags: Cloud, Ernst & Young, EY, Guidewire, Insurer-as-a-Service, Red River Mutual Insurance