SEBRINGVILLE, Ontario and SAN MATEO, California–(BUSINESS WIRE)–Tradition Mutual Insurance Company and Guidewire (NYSE: GWRE) announced that Tradition Mutual has chosen Guidewire to automate and simplify its business processes. Guidewire will be implemented in all of Tradition Mutual’s business areas at the same time.
Tradition Mutual selected Guidewire for policy administration, underwriting, customer data, underwriting, reinsurance, claims, billing and enterprise-wide data management and analytics, as well as to provide a transparent and omnichannel digital experience to its brokers, policyholders and suppliers.
“We chose Guidewire because it is a platform deeply rooted in the P&C insurance industry and used by many insurance companies. It is stable, easy to use and updated to the latest industry standards, which guarantees its longevity,” said Paul Burns, President and CEO of Tradition Mutual. “Guidewire will help us automate our processes and speed up workflow. Additionally, we are an agent-centric company, so adopting cloud computing will allow our agents and employees to access Guidewire quickly and easily, wherever they are.
“We welcome Tradition Mutual to the Guidewire family of customers,” said Ken Shapiro, Guidewire Group Vice President of Sales, Americas. “We look forward to helping the company leverage Guidewire and a flexible partner deployment model to continue to bring safety, security and certainty to its policyholders in an unpredictable world.”
The company will access Guidewire in a private cloud through EY Nexus™ for Insurance. “Many small and medium-sized insurance companies face unique challenges in transforming their core systems,” said Shawn Antao, head of insurance technology consulting at EY Canada. “With EY’s Cloud and Managed Services solution, we help companies achieve the economies of scale needed to manage disaster recovery and business continuity. The solution, built around InsuranceSuite software – with pre-configured capabilities for the Canadian insurance market – helps companies overcome inherent challenges and achieve a successful implementation project. We look forward to supporting Tradition Mutual along this transformational journey.
About Tradition Mutual Insurance
At Tradition Mutual, we are here to bring safety, security and certainty to our policyholders in an unpredictable world. We know you and you know us personally. We have the integrity and stability gained over a history that spans over 140 years in the counties of St. Mary’s, Stratford, Sebringville and Perth and Huron. We live in our community and believe in investing in the communities we serve. If you have an insurance policy with us, you are insured and owner. At Tradition Mutuelle, you are the most important part of your policy.
Although we started as an agricultural insurer, we now offer a wide variety of insurance, including:
The difference between mutual insurance and other insurance is ownership. As a mutual policyholder, you are also an owner. This means that insurance premiums remain in the community to which they belong. And unlike large multinational companies which have shareholders to satisfy, mutuals only act in the best interests of their policyholders.
Here is an example. Insurance is about planning for the worst. But if the worst does not happen, you may have some money left over. In a shareholder-owned insurance company, this money is called “profit”. In a mutual insurance company, this is called an insured capital. We have provided premium refunds to our policyowners as declared by our Board of Directors.
Although Tradition is a local business, our strength and stability is backed by Ontario Mutuals, a partnership of over 38 mutual insurance companies across Ontario. Together, we form 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 effectively. We combine digital, core, analytics and AI to deliver our platform as a cloud service. More than 450 insurers, from start-ups to the world’s largest and most complex, use Guidewire.
As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with over 1,000 successful projects, backed by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of apps that accelerate onboarding, localization, and innovation.
For more information, visit www.guidewire.com and follow us on Twitter: @Guidewire_PandC.
NOTE: For more information on Guidewire trademarks, see https://www.guidewire.com/legal-notices.