Canadian insurer The Co-operators has selected Guidewire Software’s InsuranceSuite Cloud to power its core operations.
Transitioning to Guidewire Cloud from on-premises deployment will enable the insurer to streamline its IT operations and more quickly adapt to changing market demands.
Guidewire Cloud is powered by Amazon Web Services (AWS).
The Co-operators vice president of finance and P&C operations Craig Bran said: “Guidewire Cloud provides an agile, stable technology landscape with better uptime, so our employees can focus on strategic initiatives instead of system maintenance and upgrades to keep our technology up-to-date.
“Our omnichannel distribution network will be able to take advantage of those updates on a more timely basis, interacting with a superior platform and providing a better experience for our policyholders.”
Initially, The Co-operators will migrate policy administration, underwriting and billing management capabilities simultaneously Guidewire Cloud solution, followed by claims management.
The Canadian insurer, which has been a Guidewire customer since 2007, originally used Guidewire products in a self-managed, on-premises mode.
The Co-operators chief information officer Carol Poulsen said: “We are proud of the strong, mutually beneficial relationship we have developed with Guidewire over the years through our various implementation programs.
“Guidewire values our partnership, seeks our perspective, and is well attuned to our current and evolving needs. Our confidence in Guidewire as a partner made the decision to move to InsuranceSuite Cloud significantly easier.”
Guidewire Software chief sales officer Steve Sherry said: “The Co-operators is one of our very first InsuranceSuite customers and I welcome them to the Guidewire Cloud.
“We are pleased by its vote of confidence in our cloud services capabilities and applaud its mission of providing its customers with the products and services that best address their needs anytime, anywhere, on any device.”
Earlier this month, US-based Safety Insurance Group selected Guidewire ClaimCenter to upgrade its claims management system.