Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty (P/C) insurers, today announced that its clients, Promutuel Insurance, and Celina Insurance Group, have each been named a “Model Insurer” in the Celent Model Insurer 2016: Case Studies of Effective Technology Use In Insurance report.
Promutuel Insurance was recognized in the Innovation and Emerging Technologies category for creating a new way to provide remote training and communicate new standards to all of its users, not only for underwriters and affiliated agents, but also to every actual and future user of Promutuel Insurance’s systems and processes. As part of its business transformation and Guidewire PolicyCenter implementation project, the company, along with its implementation partner V-NEO, created a new change management strategy and built a global e-learning foundation, CAMPUS, to address the challenge of training 450 employees on PolicyCenter after updating its operations and business processes across 23 independent mutual associations with more than 100 points of sales distributed across the province of Quebec, Canada, in an effort to reduce costs, improve the learning curve, and at the same time standardize underwriting in commercial and farm lines of business.
“Training employees on PolicyCenter while conducting a fast-paced implementation project was a complex but very successful undertaking,” said Colleen Risk, senior analyst with Celent and author of the report. “The Promutuel Insurance project is an example of how insurers can leverage agile project management methodology, business process-oriented development, and continuous communication among diverse teams to ensure a training initiative of this level is completed on time and within budget.”
Celina Insurance Group was recognized as a 2016 Celent Model Insurer winner in the Data Mastery and Analytics category for its use of machine learning via Guidewire Predictive Analytics™ (formerly Talon from EagleEye Analytics*) to create an analytics-based agency prospecting tool to appoint agents in high potential underserved areas.
“The team at Celina is honored to be named a Model Insurer by Celent, a well-respected analyst firm covering the Property/Casualty insurance industry, and we are thrilled that Celent has recognized our innovative use of technology for agency prospecting via analytics. With our recent upgrade by A.M. Best to "Excellent", we are poised for accelerated profitable growth, and our analytics-based agency prospecting tool supports these efforts,” said Bill Montgomery, President and CEO, Celina Insurance Group.
“On behalf of Guidewire, congratulations to Promutuel Insurance and Celina Insurance Group on being recognized as 2016 Model Insurers by Celent,” said Brian Desmond, chief marketing officer, Guidewire Software. “We are very impressed with the work they have done, and are pleased they have been recognized with this prestigious honor.”
Celent’s annual award program selects ‘model insurers’ and recognizes them for their achievements in the strategic development, degree of innovation, and business and customer impact of insurance technology.
The Celent Model Insurer 2016: Case Studies of Effective Technology Use in Insurance recognizes 15 insurance technology initiatives as “Model Insurer Components” and names the Celent Model Insurer of the Year. These case studies represent best practices in the use of technology and span key areas of the product and policyholder life cycle, including product definition, distribution, underwriting, policy administration, service, claims, and infrastructure. The report also reviews IT best practices and measurable business results used in evaluating the Model Insurer Components. Members of Celent's research services can download the report at: http://www.celent.com/reports/model-insurer-2016-case-studies-effective-technology-use-insurance. Non-members should contact info celent.com for more information.
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