Builders Insurance Group Selects Guidewire to Increase Business Agility and Foster Business Growth

Rhea-AI Summary

Guidewire (NYSE: GWRE) announces that Builders Insurance Group selected its InsuranceSuite on Guidewire Cloud to enhance core systems and adapt to market demands. The implementation aims to improve speed-to-market and underwriting efficiencies. Builders will leverage InsuranceSuite’s capabilities to better engage with agents and policyholders while expanding product offerings. This initiative, led by PwC, underscores Builders' commitment to delivering superior insurance solutions and supports its ongoing evolution as a financially strong mutual with over $1 billion in assets. Builders operates in 22 states with more than 18,000 policies in force.

Positive

• Builders Insurance Group selected Guidewire's InsuranceSuite on Cloud to enhance core systems and streamline IT operations.
• The implementation aims to improve speed-to-market and underwriting efficiencies, aligning with strategic goals.
• Guidewire's technology will facilitate better agent and policyholder interactions and support the expansion into new product lines.

Negative

• None.

ATLANTA & SAN MATEO, Calif.--(BUSINESS WIRE)-- Builders Insurance Group (Builders), a commercial insurance provider, and Guidewire (NYSE: GWRE) announced that Builders selected InsuranceSuite on Guidewire Cloud to power its core systems, simplify its IT operations, adapt to changing market demands, and deliver more value to its agents and policyholders. The company plans to simultaneously implement InsuranceSuite across all lines of business and states where it operates. Guidewire PartnerConnect Consulting Premier member PwC will be leading the implementation project.

“We selected InsuranceSuite on Guidewire Cloud to replace our existing core platform to improve speed-to-market, enhance underwriting efficiencies, and offer full-service capabilities to our customers,” said Builders Chief Information Officer Andrew Dunn. “We will also have greater access to data for our actuaries and data scientists to profitably expand into new product lines. And by selecting and implementing InsuranceSuite’s claims, policy and billing capabilities, we will achieve our strategic goals and better interface with agents, policyholders, managing general agents (MGAs) and managing general underwriters (MGUs), among other things.”

Builders Chief Marketing and Underwriting Officer Mark Gromek added, “Our vision to deliver best-in-class products and services through our professional experts required our technology to match the expectations of our agents and policyholders. With Guidewire Cloud, we will stay current with Guidewire’s latest technology and innovations and enable our sales, underwriting and claims teams to work closer with agents to provide the best experience for our mutual clients.”

“We’re pleased to work with Builders on this implementation project,” said PwC Principal Imran Ilyas. “Transforming core systems can help provide Builders with enterprise agility to support real-time agent connectivity and the capability that can help them adapt quickly and implement new tools and upgrades. We look forward to supporting Builders along their journey.”

“We celebrate Builders’ 30 years of service to builders and small businesses of all kinds in the Southeast,” said Guidewire Chief Sales Officer David Laker. “We are delighted that the company will leverage Guidewire to continuously improve their insurance products to give customers superior coverage at reasonable rates and help them develop and maintain a safe work environment.”

About Builders Insurance Group

Headquartered in Atlanta, Builders delivers innovative Workers’ Compensation, General Liability, Property, Umbrella, and Builders Risk Insurance through independent agents. Founded in 1992, the company has evolved into a dynamic, financially strong mutual with a philosophy of deeply supportive partnerships and exceptional expertise. Builders is an AM Best A rated company with more than $1 billion in total assets. The company has over 18,000 in policies force in 22 states. For more information, please visit our website at www.bldrs.com.

About PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 152 countries with over 327,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. ​We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 500 insurers in 38 countries, from new ventures to the largest and most complex in the world, run on Guidewire.

As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.

For more information, please visit http://www.guidewire.com/ and follow us on Twitter and LinkedIn.

NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230307005010/en/

Diana Stott

Director, Communications

Guidewire Software, Inc.

+1.650.781.9955

dstott@guidewire.com

Tim Chatlos

Director of Communications

Builders

(678) 322-1319

tchatlos@bldrs.com

Source: Guidewire Software

FAQ

What is the significance of Builders Insurance Group choosing Guidewire Cloud?

Builders Insurance Group selected Guidewire Cloud to enhance its core systems, streamline operations, and improve services for agents and policyholders.

How will the implementation of Guidewire's InsuranceSuite affect Builders Insurance Group?

The implementation will enhance Builders' speed-to-market and underwriting efficiencies, enabling better data access and expansion into new product lines.

When was the announcement made regarding Builders Insurance Group's selection of Guidewire?

The announcement was made on March 7, 2023.

Who is leading the implementation project for Builders Insurance Group?

The implementation project is being led by PwC, a Guidewire PartnerConnect Consulting Premier member.