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Franklin Mutual Insurance Group Selects Guidewire Cloud to Enhance Customer Experience for Business Growth
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Franklin Mutual Insurance, a New Jersey-based insurer, has selected Guidewire Cloud to enhance its core operations and adapt to market demands. This move, supported by previous self-managed installations since 2020, aims to deliver cost savings and improve technology use. The transition to the cloud will reduce system maintenance time, allowing focus on better user experiences for agents, employees, and policyholders. Franklin Mutual's shift underscores their commitment to operational efficiency and business growth.
Positive
Migration to Guidewire Cloud projected to reduce operational costs.
Improved technology access with a focus on innovation and user experience.
Enhanced business continuity and security risk management.
Negative
None.
New Jersey Property and Casualty (P&C) insurer to leverage Guidewire Cloud to increase business agility and deliver more value to agents, employees, and policyholders
BRANCHVILLE, N.J. & SAN MATEO, Calif.--(BUSINESS WIRE)--
Franklin Mutual Insurance Group, a P&C insurance provider for New Jersey residents and business owners, and Guidewire (NYSE: GWRE) announced that Franklin Mutual Insurance has selected Guidewire Cloud to power its core operations and simplify its IT operations, adapt more quickly to changing market demands, and deliver more value to its policyholders.
Franklin Mutual Insurance first deployed self-managed Guidewire product installations in 2020 for underwriting, policy administration, claims, billing, rating, and reinsurance management, enterprise-wide data management and analytics, and to offer a seamless omnichannel digital experience to its agents, customer service representatives, policyholders, and vendors. Franklin Mutual is planning to simultaneously migrate all the self-managed Guidewire products onto Guidewire Cloud for all lines of business. The company has chosen to move to Guidewire Cloud now to benefit from the cost savings and product improvements resulting from the upgrade, and then to be able to keep the platform up-to-date.
“Migrating our self-managed Guidewire installations to Guidewire Cloud will be a more cost-effective way of using the technology,” said Steve Romanow, chief technology officer, Franklin Mutual Insurance. “By leveraging Guidewire Cloud, we will be able to take advantage of and stay current with Guidewire’s latest technology and innovation, while also enhancing our business continuity strategy and mitigating our security risk. We will be devoting less time to system maintenance so we can focus on offering our agents, employees, and policyholders a much better user experience to grow our business.”
“We thank Franklin Mutual Insurance for its continued trust in Guidewire and our platform and welcome the company to the Guidewire Cloud,” said John Mullen, president and chief revenue officer, Guidewire. “We are pleased by this vote of confidence in our cloud services capabilities to continue commitments to policyholders through dedication to a strong ethical culture, excellent customer service, consistency in the marketplace, and financial strength.”
Franklin Mutual also deployed SmartCOMM™ from Smart Communications for customer communications management. Guidewire is a reseller of Smart Communications, a Guidewire PartnerConnect Solution member.
About Franklin Mutual Insurance
Franklin Mutual Insurance is one of the most established and respected insurance companies in New Jersey. In business since 1879, FMI offers superior coverages to New Jersey residents and business owners, sold exclusively through professional independent agents. Rated A+ (Superior) by A.M. Best, we have the financial strength and stability to protect our insureds and continue to grow our business. For more information, please visit https://www.fmiweb.com/site/.
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 450 insurers, 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.
Diana Stott Director, Communications
Guidewire Software, Inc. +1.650.356.4941
dstott@guidewire.com
Source: Guidewire Software, Inc.
FAQ
What is the significance of Franklin Mutual Insurance selecting Guidewire Cloud?
Franklin Mutual's decision to adopt Guidewire Cloud is aimed at enhancing operational efficiency, reducing costs, and improving service delivery to policyholders.
When did Franklin Mutual Insurance first deploy Guidewire products?
Franklin Mutual Insurance first deployed self-managed Guidewire products in 2020.
How will the migration to Guidewire Cloud impact Franklin Mutual Insurance?
The migration to Guidewire Cloud is expected to simplify IT operations, allow quicker adaptation to market changes, and enhance overall user experience.
What are the expected benefits of using Guidewire Cloud for Franklin Mutual Insurance?
The expected benefits include cost savings, better technology access, improved security, and more focus on enhancing customer interactions.
What is Guidewire's role in the insurance industry?
Guidewire provides cloud-based software solutions for property and casualty insurers, helping them innovate, engage, and grow efficiently.
