Red River Mutual, a mutual company serving families, farms, and businesses across the Canadian prairie and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty insurers, today 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™ ConsultingPremier 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.