Lititz Mutual Insurance Company Selects Guidewire InsuranceNow to Increase Agent and Policyholder Digital Engagement for Business Growth

Rhea-AI Summary

Lititz Mutual Insurance Company has chosen Guidewire's InsuranceNow to enhance its operations and customer service, focusing first on its homeowners line of business. CEO Henry R. Gibbel emphasized the platform's ability to streamline underwriting and improve digital interactions with agents and policyholders. The move aligns with Lititz's cloud computing strategy, allowing them to modernize their systems, reduce maintenance time, and access valuable data through InsuranceNow dashboards. Guidewire's established industry reputation supports this transition, benefiting both companies and their clients.

Positive

• Lititz Mutual selected Guidewire's InsuranceNow to enhance customer service and improve operations.
• The implementation will initially focus on the homeowners line, with plans to expand to other business lines.
• The transition to a cloud-based system aims to modernize underwriting processes, improving efficiency.
• Access to enhanced data through InsuranceNow will facilitate better pricing and quicker service.

Negative

• None.

Personal and commercial lines insurance provider to leverage core operations in the cloud

LITITZ, Pa. & SAN MATEO, Calif.--(BUSINESS WIRE)-- Lititz Mutual Insurance Company (Lititz), a provider of personal and commercial lines insurance through a network of independent agents, and Guidewire (NYSE: GWRE) announced that Lititz has selected InsuranceNow to improve customer service and grow its business. The company plans to implement InsuranceNow first to its homeowners line of business with other lines of business to follow.

“We selected InsuranceNow to modernize our systems and transform the interactions our agents and policyholders have in working with us. Out of all the systems we evaluated, InsuranceNow was the best in meeting our requirements, especially with its value-added capabilities,” said Lititz President and Chief Executive Officer Henry R. Gibbel. “We will be able to transform our underwriting processes through all of the additional data we will be able to access through InsuranceNow dashboards. This will help our agents work with us more digitally, reducing the post-issuance underwriting correspondence that takes time and money while also pricing our product accordingly in that initial transaction with the policyholder.”

Gibbel added, “Cloud computing has always been a part of our future business strategy and it was important that we weren’t cobbling together different core systems. The cloud and All-in-One aspects of InsuranceNow were critical in our decision-making process. Guidewire is a recognized industry software platform. By leveraging InsuranceNow on Guidewire Cloud, we will be able to take advantage of Guidewire’s latest technology and innovation, devoting less time to system maintenance.”

“We are pleased to welcome Lititz to the Guidewire customer community,” said Guidewire Group Vice President of Americas Sales Ken Shapiro. “We look forward to helping the company continue meeting the needs of its policyholders and providing a fast, fair response on claims and customer service.”

About Lititz Mutual Insurance Company

A property casualty mutual insurance company organized in 1888, Lititz Mutual provides their policyholders with a financially strong, well-managed company with responsive service and insurance products that are fairly priced. The company was founded on the soundest of ideals – thrift, integrity, caring, reliability, quality, fairness and responsibility. Lititz Mutual serves over 70,000 policyholders throughout an 8 state operating footprint.

Lititz Mutual is the flagship of a group of mutual insurance companies which includes Penn Charter Mutual Insurance Company, Farmers’ & Mechanics’ Mutual Insurance Company and Livingston Mutual Insurance Company. Together, the companies offer a broad offering of personal habitational products supported by small commercial, farm and umbrella coverages.

For more information, visit https://www.lititzmutual.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/20220324005284/en/

Diana Stott

Director, Communications

Guidewire Software, Inc.

+1.650.356.4941

dstott@guidewire.com

Source: Guidewire Software

FAQ

What is the significance of Lititz Mutual selecting Guidewire's InsuranceNow?

Lititz Mutual's selection of InsuranceNow is significant as it aims to improve customer service and operational efficiency by modernizing their systems and streamlining underwriting processes.

What business line is Lititz Mutual initially implementing InsuranceNow for?

Lititz Mutual is initially implementing InsuranceNow for its homeowners line of business.

How does InsuranceNow benefit Lititz Mutual in terms of technology?

InsuranceNow benefits Lititz Mutual by offering a cloud-based platform that reduces system maintenance time and allows access to valuable data for better decision-making.

What are the expected outcomes of Lititz Mutual's partnership with Guidewire?

The expected outcomes include improved customer interactions, more efficient underwriting processes, and enhanced service delivery for policyholders.

When was the announcement made regarding Lititz Mutual and Guidewire's collaboration?

The announcement regarding Lititz Mutual's collaboration with Guidewire was made on March 24, 2023.