Tradition Mutual Insurance Company Selects Guidewire to Automate and Simplify Business Processes
March 30 2022 - 7:55AM
Business Wire
Guidewire PartnerConnect Global Premier partner
EY to provide implementation, ongoing services, and support
Tradition Mutual Insurance Company and Guidewire (NYSE: GWRE)
announced that Tradition Mutual has selected Guidewire to automate
and simplify its business processes. Guidewire will be implemented
across all of Tradition Mutual’s lines of business at the same
time.
Tradition Mutual 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.
“We selected Guidewire because it is a platform that is deeply
entrenched in the P&C insurance industry and used by a lot of
insurance companies. It’s stable, easy to use, and updated to the
latest industry standards, leading to longevity,” said Tradition
Mutual President and Chief Executive Officer Paul Burns. “Guidewire
will help us automate our processes and make the workflow faster.
Also, we’re an agent-driven company, so adopting cloud computing
will enable our agents and employees to access Guidewire quickly
and easily, no matter where they are.”
“We welcome Tradition Mutual to the Guidewire customer family,”
said Guidewire Group Vice President of Americas Sales Ken Shapiro.
“We look forward to helping the company leverage Guidewire and a
flexible partner deployment model to continue bringing safety,
security, and certainty to its policyowners in an unpredictable
world.”
The company will be accessing Guidewire in a private cloud
through EY Nexus™ for Insurance. “Many small to medium-sized
insurance companies face unique challenges in transforming their
core systems,” said EY Canada Insurance Technology Consulting
Leader Shawn Antao. “Through EY’s cloud-based and managed service
solution, we’re helping companies reach economies of scale needed
to manage disaster recovery and business continuity. The solution,
built around the InsuranceSuite software – with pre-configured
capabilities for the Canadian insurance market – helps companies to
overcome inherent challenges and achieve a successful
implementation project. We look forward to supporting Tradition
Mutual along that transformation journey.”
About Tradition Mutual Insurance Company
At Tradition Mutual, we are here to bring safety, security and
certainty to our policyowners in an unpredictable world. We know
you, and you know us on a personal basis. We have integrity and
stability earned over a history that expands over more than 140
years in St. Mary’s, Stratford, Sebringville and Perth and Huron
counties. We live in our community and believe in investing within
the communities we serve. If you have an insurance policy with us,
you are a policyholder and an owner. At Tradition Mutual, you are
the most important part of your policy.
Although we began as a farm insurer, we now offer a wide variety
of insurance, including:
- Auto insurance
- Home insurance
- Commercial insurance
- Farm insurance
The difference between mutual insurance and other insurance is
ownership. As a mutual insurance policyholder, you are also an
owner. That means insurance premiums stay in the community where
they belong. And unlike large, multinational companies who have
shareholders to please, mutual insurance companies act only in the
best interests of their policyholders.
Here’s one example. Insurance is about planning for the worst.
But if the worst doesn’t happen, you might have some money left
over. In a shareholder-owned insurance company, they call that
money ‘profits.’ In a mutual insurance company, they call it a
policyowner equity. We have provided premium refunds to our
policyowners as declared by our board of directors.
Although Tradition is a local company, our strength and
stability is backed by Ontario Mutuals, a partnership of more than
38 mutual insurance companies across Ontario. Together, we make up
one of the strongest financial networks in the world.
For more information, please visit
https://www.traditionmutual.com/.
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage,
innovate, and grow efficiently. We combine digital, core,
analytics, and AI to deliver our platform as a cloud service. More
than 450 insurers, from new ventures to the largest and most
complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable
their success. We are proud of our unparalleled implementation
track record, with 1,000+ successful projects, supported by the
largest R&D team and partner ecosystem in the industry. Our
marketplace provides hundreds of applications that accelerate
integration, localization, and innovation.
For more information, please visit www.guidewire.com and follow
us on Twitter: @Guidewire_PandC.
NOTE: For information about Guidewire’s trademarks, visit
https://www.guidewire.com/legal-notices.
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version on businesswire.com: https://www.businesswire.com/news/home/20220330005047/en/
Diana Stott Director, Communications Guidewire Software, Inc.
+1.650.356.4941 dstott@guidewire.com
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