Subsidiary Sovereign Insurance also leveraging Guidewire Cloud for Underwriting and Policy Administration
Guelph, ON (Oct. 10, 2023) – Co-operators, a leading Canadian multi-line insurance and financial services organization, and Guidewire are pleased to announce that Co-operators has successfully implemented Guidewire PolicyCenter and Guidewire BillingCenter on Guidewire Cloud to power its policy administration, underwriting and billing functions, simplify its IT operations, adapt to changing market demands, and deliver more value to its distribution channels and policyholders.
A Guidewire customer since 2007, Co-operators migrated PolicyCenter and BillingCenter to Guidewire Cloud simultaneously for all of its property and casualty (P&C) lines of business in the provinces where it operates. The company also extended its PolicyCenter instance on Guidewire Cloud to its subsidiary Sovereign Insurance. Further, Co-operators is currently working towards a migration of its self-managed Guidewire ClaimCenter environment onto Guidewire Cloud. At the conclusion of that project, the companies’ P&C Operations will be a full Guidewire InsuranceSuite customer on Guidewire Cloud.
“Guidewire Cloud offers a world of possibilities that we wanted to capitalize on to improve our functionality and efficiencies and support the capacity and capabilities of our workforce,” said Co-operators Property and Casualty Manufacturing Executive Vice President and Chief Operating Officer Lisa Guglietti. “Guidewire Cloud innovations provide us with access to technology that will allow us to build better and faster, as well as adapt our systems to the impacts of an ever-changing, agile and modernizing industry.”
Co-operators Executive Vice President and Chief Information Officer Harry Pickett added, “Our users have provided positive feedback about the new layouts, and they are excited about the availability of the additional Guidewire Cloud possibilities that we are beginning to explore. Opportunities to maximize new features will help meet evolving business needs, as well as improve strategic areas like policy system performance, overall productivity, efficiencies, and better user experiences.”
“Co-operators has been providing financial security for Canadians and their communities for the past 78 years,” said Guidewire Chief Customer Officer Christina Colby. “We congratulate Co-operators on its successful migration to Guidewire Cloud and look forward to working with the company as it progresses along its cloud journey and grows its business.”
About Co-operators
Co-operators is a leading Canadian financial services co-operative, offering multi-line insurance and investment products, services, and personalized advice to help Canadians build their financial strength and security. Co-operators has more than $59 billion in assets under administration and has been providing trusted guidance to Canadians for the past 78 years. The organization is well known for its community involvement and its commitment to sustainability. Achieving carbon neutral equivalency in 2020, the organization is committed to net-zero emissions in its operations and investments by 2040, and 2050, respectively. Co-operators is also ranked as a Corporate Knights’ Best 50 Corporate Citizen in Canada. For more information, visit www.cooperators.ca.
About Sovereign Insurance
The Sovereign General Insurance Company (Sovereign Insurance) is your partner in resilience. We work with our dedicated partners to provide advice, education, ongoing support, and breakthrough risk solutions to address the ever-evolving, unique needs of Canadian businesses. We’re passionate about building a stronger Canada through resilient businesses, and the communities they serve. Canadian owned and operated since 1953, Sovereign is a wholly owned subsidiary of The Co-operators General Insurance Company, a leading Canadian provider of multi-line insurance products with assets of $9 billion. Sovereign operates in six offices across Canada and is proud to carry an AM Best A (Excellent) rating. To learn more, visit www.sovereigninsurance.ca.
About Guidewire Software
Guidewire (NYSE: GWRE) is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and machine learning 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 www.guidewire.com.
For information about Guidewire’s trademarks, visit www.guidewire.com/legal-notices/. All products mentioned in this announcement are Guidewire products. Not all products are available in every geography or to self-managed customers. Any unreleased services or features referenced in this, or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase Guidewire applications should make their purchase decisions based upon features that are currently available.
Source: Guidewire Software
Tags: Cloud, Co-operators, Guidewire, Sovereign Insurance
