GroupAssur Selects Guidewire to Increase Business Agility

Rhea-AI Summary

Guidewire has been chosen by GroupAssur to enhance operational efficiencies across its commercial lines, utilizing Guidewire’s software for policy administration, underwriting, and analytics. This partnership aims to improve the experience for brokers, policyholders, and vendors through a seamless digital solution. GroupAssur’s president highlighted the unique needs of the MGA market and the benefits of Guidewire's scalable solutions. The implementation will leverage EY Nexus™ for Insurance, ensuring efficient operations within a cloud environment.

Positive

• GroupAssur selected Guidewire for comprehensive software solutions across all commercial lines, enhancing operational efficiency.
• The partnership allows GroupAssur to improve broker and policyholder experiences through advanced data management and analytics.
• Implementation utilizes EY Nexus™ to ensure efficient cloud-based operations for GroupAssur.

Negative

• None.

Guidewire PartnerConnect Global Premier partner EY to provide implementation, ongoing services, and support

MONTRÉAL & SAN MATEO, Calif.--(BUSINESS WIRE)-- GroupAssur and Guidewire (NYSE: GWRE) announced that GroupAssur has selected Guidewire to boost operational efficiencies and deliver an enhanced experience to brokers. Guidewire will be implemented across all of GroupAssur’s commercial lines of business at the same time.

GroupAssur selected Guidewire for policy administration, underwriting, client data, rating, reinsurance, claims, billing, and enterprise-wide data management and analytics, as well as to offer a seamless, omnichannel digital experience to its brokers, policyholders, and vendors.

“The managing general agent (MGA) market is quite unique, and we found that solutions built for brokers did not meet all of our needs as we’ve grown and evolved, especially regarding data analysis and scalability,” said Jean-Francois Raymond, president, GroupAssur. “We selected Guidewire as its benefits for us are tremendous and allows us to mimic the relationship that brokers have with insurance companies in the MGA space.”

“We welcome GroupAssur to the Guidewire customer family,” said Ken Shapiro, group vice president, Americas Sales, Guidewire. “We look forward to helping the company leverage Guidewire and a flexible partner deployment model to continue its mission of providing comprehensive, innovative, and efficient insurance solutions to its network of Canadian brokers.”

The company will be accessing Guidewire in a private cloud through EY Nexus™ for Insurance. Neil Pengelly, insurance technology advisory leader, EY Canada, said, “MGAs face unique challenges that can make finding the best-fitting solution difficult for them. EY’s cloud-based and managed service solution — built around Guidewire, with capabilities for the Canadian MGA market — allows MGAs to achieve successful implementation and then operate efficiently within the cloud while integrating with major broker management and carrier systems. We’re thrilled to be working with GroupAssur to transform their business and IT capabilities with Guidewire.”

About GroupAssur

Founded in 1993 by a group of brokers coming together to provide services to larger enterprises, GroupAssur is an MGA servicing specialized insurance needs of brokers and customers across Canada. The company provides underwriting services for complex insurance policies on behalf of Canadian insurance carriers, international insurance carriers, and Lloyd’s of London insurance syndicates. GroupAssur is headquartered in Montreal, QC, with additional offices in Quebec, Ontario and British Columbia. Novacap, one of Canada's leading private equity firms, owns a majority interest in GroupAssur since 2020. For more information, please visit http://www.groupassur.com/

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.

For more information, please visit www.guidewire.com and follow us on Twitter: @Guidewire_PandC.

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/20220111005077/en/

Diana Stott

Director, Communications

Guidewire Software, Inc.

+1.650.356.4941

dstott@guidewire.com

Source: Guidewire Software, Inc.

FAQ

What partnership was announced between GroupAssur and Guidewire on October 2023?

GroupAssur selected Guidewire to enhance operational efficiencies and improve experiences for brokers and policyholders across all commercial lines.

What services will Guidewire provide to GroupAssur?

Guidewire will deliver policy administration, underwriting, client data management, and analytics as part of the partnership.

How will GroupAssur implement Guidewire's solutions?

GroupAssur will implement Guidewire's software across all commercial lines simultaneously, utilizing EY Nexus™ for Insurance.

What is the significance of the Guidewire and GroupAssur partnership for the MGA market?

The partnership addresses the unique needs of the MGA market, enhancing data analysis and scalability for GroupAssur.

What technology will GroupAssur use from EY in conjunction with Guidewire?

GroupAssur will use EY Nexus™, a cloud-based managed service solution, to ensure efficient operations with Guidewire.