(Image credit: Bruce Emmerling.)
The Philadelphia Contributionship (TPC, Philadelphia), the oldest property/casualty insurance company in the United States, has chosen to move its instance of Guidewire Software’s (San Mateo, Calif.) InsuranceNow platform to Guidewire Cloud. The move will enable the company to focus more on innovation and higher value business initiatives, and facilitate quicker upgrades to stay current with Guidewire technology, according to a vendor statement.
TPC has been using InsuranceNow on a self-managed basis since 2014 to modernize its core operations and enhance its service to policyholders, agents, and support staff, according to the Guidewire statement. The company is currently moving InsuranceNow to Guidewire Cloud across all of its personal lines of business in the states where it operates.
“Guidewire has been an ideal partner for us during these past six years that we’ve been in production with InsuranceNow, the pre-eminent all-in-one core system for regional and super-regional insurers in the marketplace today,” comments Kevin Tate, VP, CFO, Treasurer and Assistant Secretary, The Philadelphia Contributionship. “We are renewing our commitment to this partnership by migrating to Guidewire Cloud, while Guidewire commits to assuming the responsibilities for maintaining InsuranceNow moving forward.”
“We are confident that moving to Guidewire Cloud will help increase our IT staff efficiency by freeing them from having to constantly maintain our systems and instead empowering them to be able to focus on driving mission-critical business objectives to further accelerate our growth,” Tate adds.
TPC’s CIO Mark Montagna says the move will allow the insurer to stay up-to-date with Guidewire’s product growth and vision, and give customers the uptime and performance they have come to expect from the insurer. “Moreover, Guidewire Cloud is powered by Amazon Web Services (AWS) which provides the security, scalability, and flexibility to adapt InsuranceNow based on our business needs,” he adds.
Optimal Way to Use the Software
The vendor pitches Guidewire Cloud as the optimal way to experience the capabilities of Guidewire, combining digital, core, analytics, and AI to deliver its platform as a cloud service. Guidewire says it scales according to use, provides cost predictability, and transfers IT risk to Guidewire. “Expert Guidewire teams and our cloud-certified partners provide implementation services, security, ongoing management, and regular updates. All Guidewire products are available through Guidewire Cloud, which runs on AWS,” a Guidewire statement says.
“We are pleased with The Philadelphia Contributionship’s recognition of the advantages in running its business in Guidewire Cloud,” comments Frank O’Dowd, chief sales officer, Guidewire Software. “We applaud its mission of providing insurance protection that puts people first, through uniquely personal service, strong partnerships and an unmatched history of financial stability.”