The Commonwell Mutual Insurance Group, an Ontario-based mutual insurer that provides residential, automobile, farm, and commercial insurance products, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property and Casualty (P&C) insurers, today announced that The Commonwell has selected Guidewire Core and Data products to modernize its systems and transform the way it does business.
The Commonwell has selected Guidewire InsuranceSuite™, Client Data Management, Rating Management, and Reinsurance Management as its policy administration, underwriting, client data, rating, reinsurance, claims, and billing management platform. The company also selected Guidewire DataHub™ and InfoCenter as its enterprise data management and analytics solution. The Commonwell plans to implement all of the products at the same time, across all of its commercial and personal lines of business in the province of Ontario.
Tim Shauf, President and Chief Executive Officer, The Commonwell, said, “Guidewire’s product maturity, market share, and track record of successful implementations were important factors in our decision-making process. We are confident that this strategic relationship will provide The Commonwell with the ability to pivot our operations and systems and create the opportunity for transformational change, thereby growing our business and introducing efficiencies and integrations that will enhance our customer and member experience.”
“We were looking for a comprehensive solution that required minimal customization, so the out-of-the-box functionality of InsuranceSuite was especially attractive to us,” said Jennifer Baziuk, Vice President, Information Technology, The Commonwell. “By selecting Guidewire, we will be able to build on the synergies and best practices learned throughout each phase of the implementation process.”
InsuranceSuite, DataHub, and InfoCenter will enable The Commonwell to:
Increase business agility by minimizing custom development and multi-phased approaches to bring new products and product enhancements to market more quickly;
Leverage tools that will eliminate manual processes making it easier for brokers to do business; and
Enhance operational efficiency and productivity throughout the organization by standardizing policy administration, billing management and claims handling processes on a common platform.
“We are pleased to welcome The Commonwell Mutual Insurance Group to the Guidewire customer community,” said Steve Sherry, Chief Sales Officer, Guidewire Software. “We applaud The Commonwell’s dedication to protecting people and earning their trust and are looking forward to helping the company achieve and exceed its business objectives.”