GroupAssur and Guidewire (NYSE: GWRE) announced that GroupAssur has selected Guidewire to boost operational efficiencies and deliver an enhanced experience to brokers. Guidewire will be implemented across all of GroupAssur’s commercial lines of business at the same time.
GroupAssur selected Guidewire for policy administration, underwriting, client data, rating, reinsurance, claims, billing, and enterprise-wide data management and analytics, as well as to offer a seamless, omnichannel digital experience to its brokers, policyholders, and vendors.
“The managing general agent (MGA) market is quite unique, and we found that solutions built for brokers did not meet all of our needs as we’ve grown and evolved, especially regarding data analysis and scalability,” said Jean-Francois Raymond, president, GroupAssur. “We selected Guidewire as its benefits for us are tremendous and allows us to mimic the relationship that brokers have with insurance companies in the MGA space.”
“We welcome GroupAssur to the Guidewire customer family,” said Ken Shapiro, group vice president, Americas Sales, Guidewire. “We look forward to helping the company leverage Guidewire and a flexible partner deployment model to continue its mission of providing comprehensive, innovative, and efficient insurance solutions to its network of Canadian brokers.”
The company will be accessing Guidewire in a private cloud through EY Nexus™ for Insurance. Neil Pengelly, insurance technology advisory leader, EY Canada, said, “MGAs face unique challenges that can make finding the best-fitting solution difficult for them. EY’s cloud-based and managed service solution — built around Guidewire, with capabilities for the Canadian MGA market — allows MGAs to achieve successful implementation and then operate efficiently within the cloud while integrating with major broker management and carrier systems. We’re thrilled to be working with GroupAssur to transform their business and IT capabilities with Guidewire.”
Founded in 1993 by a group of brokers coming together to provide services to larger enterprises, GroupAssur is an MGA servicing specialized insurance needs of brokers and customers across Canada. The company provides underwriting services for complex insurance policies on behalf of Canadian insurance carriers, international insurance carriers, and Lloyd's of London insurance syndicates. GroupAssur is headquartered in Montreal, QC, with additional offices in Quebec, Ontario and British Columbia. Novacap, one of Canada's leading private equity firms, owns a majority interest in GroupAssur since 2020. For more information, please visit http://www.groupassur.com/.