Co-operative Insurance Companies Implements Guidewire Cloud-Based, All-in-One Solution

Co-operative Insurance Companies (Co-op), a provider of Property and Casualty (P&C) insurance in Vermont and New Hampshire, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to P&C insurers, today announced that Co-op has successfully implemented Guidewire InsuranceNow™ to its Business Owners Policy (BOP) line of business in Vermont and New Hampshire.

Co-op implemented InsuranceNow to modernize its technology platform and transform the way it does business. The company will be extending the implementation of InsuranceNow to its other commercial lines of business, followed by its personal lines of business.

“This initial implementation of InsuranceNow to our BOP line of business has been a huge milestone for us,” said Marie Jewett, chief executive officer, Co-op. “We appreciate the true partnership that we have developed with ISCS, and now Guidewire, and I cannot say enough about how hard the team has worked on our behalf. Everyone has worked as a cohesive unit over the course of the implementation project.”

“By following a mainly out-of-the-box implementation approach, using configuration to make changes rather than customization, we experienced a relatively smooth implementation from start to finish,” said Eric Rhoades, senior vice president, Information Systems, Co-op. “Feedback from across the business has been positive so far, especially regarding the system’s intuitiveness. Our flow of new business has increased since going live with InsuranceNow.”

InsuranceNow is enabling Co-op to:

• Enhance operational efficiency and productivity throughout the organization by standardizing policy administration, billing management, and claims handling processes on a cohesive technology platform;

• Automate manual business processes to allow staff to focus on more strategic initiatives to support the business; and

• Increase speed-to-market and business agility, as well as reduce system maintenance costs, by leveraging Guidewire Cloud Production Services.

“We congratulate Co-op on their successful InsuranceNow implementation,” said David Burns, vice president, Professional Services, InsuranceNow, Guidewire Software. “We admire their dedication to serving their members, and are pleased to have positioned them to adapt and succeed in a rapidly-changing insurance market and build a foundation for future business growth.”

Guidewire InsuranceNow™ is a cloud-based, all-in-one solution that supports the P&C insurance lifecycle. Its integrated design, out-of-the-box functionality, and guided approach enable fast implementation and quick upgrades. Cloud-based delivery and ongoing operational support by Guidewire provide insurers the freedom to focus on innovation and respond rapidly to market demands, even when they have limited IT support.