Economical Insurance Selects Guidewire System for Policy Administration
Guidewire PolicyCenter® to help Economical improve productivity and enhance customer service
WATERLOO, ON, July 10, 2014 /CNW/ - Economical Insurance, one of Canada's leading property and casualty insurance companies, today announced that it has selected PolicyCenter from Guidewire Software, Inc. (NYSE: GWRE) as its new policy administration system. Guidewire PartnerConnectTM Affiliate member, Deloitte Inc., has been selected to lead the implementation project, with Economical and Guidewire working in close partnership.
Economical is making a significant investment to replace its internally built policy administration system as part of its ongoing transformation program that is improving productivity and its ability to deliver products and services to market in a competitive and efficient manner.
"We are looking forward to the enhanced efficiency and productivity that Guidewire PolicyCenter can bring," said Michael Gagnier, Economical's senior vice-president and chief information officer. "We are excited to move toward a comprehensive policy administration system as part of our plan to streamline the many existing systems Economical currently has in place across the country."
"We are pleased to welcome Economical Insurance to the Guidewire family," said Steve Sherry, group vice president, Americas Sales, Guidewire Software. "We admire their dedication to transforming their core systems and business processes in order to best serve their customers, and we look forward to working with them on this project."
About Guidewire Software
Guidewire builds software products that help Property/Casualty insurers replace their legacy core systems and transform their business. Designed to be flexible and scalable, Guidewire products enable insurers to deliver excellent service, increase market share and lower operating costs. Guidewire InsuranceSuite™ provides the core systems used by insurers as operational systems of record. Additional products provide support for data management, business intelligence, anytime/anywhere access and guidance and monitoring. More than 150 Property/Casualty insurers around the world have selected Guidewire.
About Economical Insurance
Founded in 1871, Economical Insurance is one of Canada's leading property and casualty insurers, with $1.9 billion in annual premium volume and $5.0 billion in assets as at March 31, 2014. Based in Waterloo, this Canadian-owned and operated group services the insurance needs of more than one million customers across the country. In 2010, Economical announced its decision to become the first federally-regulated mutual property and casualty insurance company to pursue demutualization. Economical Insurance conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Family Insurance Solutions, Federation Insurance and Economical Financial.
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