(Image source: EMC Insurance Companies homepage.)
EMC Insurance Companies (Des Moines), a multistate commercial insurer, and Guidewire Software, Inc. (San Mateo, Calif.), a provider of software to the property/casualty industry, have announced that EMC will implement Guidewire InsurancePlatform, delivered as a Software-as-a-Service (SaaS) solution via Guidewire Cloud, powered by Amazon Web Services (AWS). InsurancePlatform’s Core, Data, and Digital applications will power EMC’s digital transformation strategy. Guidewire PartnerConnect Consulting Premier member, PwC US (New York), will lead the implementation project, according to a joint announcement.
“We selected Guidewire and Guidewire Cloud to help EMC transform into a digital company that can easily adjust to industry disruption and evolving customer expectations,” comments Scott Jean, executive VP, finance and strategy, EMC Insurance Companies. “We also look forward to integrating with best-in-class partners that are a part of the Guidewire PartnerConnect ecosystem. We firmly believe that, to be successful, we must easily and efficiently connect to the digital ecosystem and leverage InsurTechs to achieve our business imperatives. Guidewire Marketplace and Guidewire DevConnect will enable EMC to effectively evaluate and operationalize InsurTech innovation at scale.”
Guidewire describes Guidewire Cloud as the optimal way to experience the power of InsurancePlatform, combining Guidewire software, services, and ecosystem in a scalable SaaS model. The vendor asserts that the offering scales according to use, provides cost predictability, and transfers IT risk to Guidewire.
“Guidewire has an integrated end-to-end core platform and architecture which aligns with EMC’s strategic cloud-first strategy for the business,” comments Sanjeev Singh, senior VP and CIO, EMC Insurance Companies. “InsurancePlatform will enable EMC to provide our agents, policyholders, and team members with better access to data to deliver upon our business transformation objectives. Cloud technology will increase our operational agility and facilitate the adoption of industry best practices.”
Enriching Agent and Customer Experiences
By adopting Guidewire Cloud as its digital platform, EMC will be able to advance the way it does business and elevate the customer experience, according to Mick Lovell, executive VP, operations, EMC. “We will be able to make quicker product and process changes which will improve our speed-to-market,” he says. “Ultimately, this will enrich agent and customer experiences by providing more ways to meet their needs, enhancing our relationships and creating industry-leading processes for the entire insurance lifecycle.”
How EMC Insurance Companies Engages Profitably with InsurTechs