Texas Mutual Insurance Company Selects Guidewire Cloud for Business Growth

Rhea-AI Summary

Texas Mutual Insurance Company has selected Guidewire Cloud to enhance its core operations, transitioning from a self-managed, on-premises solution. This shift is expected to streamline IT functions, improve adaptability, and increase value delivered to policyholders. The partnership, which commenced in 2014, aims to leverage Guidewire’s evolving offerings and best-in-class partners to achieve business objectives efficiently. Texas Mutual, serving over 72,000 businesses and 1.5 million employees in Texas, anticipates enhanced agility and delivery capabilities through this collaboration.

Positive

• Transition to Guidewire Cloud expected to simplify IT operations.
• Potential for increased efficiency and quicker adaptation to market changes.
• Opportunity to leverage Guidewire's evolving solutions and partner ecosystem.

Negative

• None.

Texas Mutual Insurance Company (Texas Mutual), the leading provider of workers’ compensation insurance in Texas, and Guidewire Software, Inc. (NYSE: GWRE), the platform P&C insurers trust to engage, innovate, and grow efficiently, today announced that Texas Mutual has chosen Guidewire Cloud to power its core operations. A Guidewire customer since 2014, the company originally implemented Guidewire in a self-managed, on-premises mode. Transitioning to Guidewire Cloud will enable Texas Mutual to simplify its IT operations, adapt more quickly to changing market demands, and deliver more value to policyholders.

“Guidewire has been a vital part of Texas Mutual’s core business operations and Guidewire Cloud extends that relationship, enabling us to leverage more of Guidewire’s offerings and derive ongoing benefits more quickly as Guidewire’s solutions continue to evolve,” said Mike Stubblefield, Senior Vice President and Chief Information Officer, Texas Mutual. “We will also be ideally positioned to leverage the best-in-class partners that are a part of the Guidewire PartnerConnect ecosystem and Marketplace to help achieve our business goals and significantly enhance our offerings and capabilities at an accelerated pace.”

Jeannette Sprague, Vice President, Core Digital Solutions, Texas Mutual, said, “For many years, Texas Mutual has offered first-class online capabilities to its agents and customers. Guidewire Cloud will provide the architecture combined with embedded digital capabilities so that our business can become more agile and accelerate delivery of value to our agents and customers. Because Guidewire assumes responsibility for system maintenance, we expect to gain efficiencies across IT, enabling our developers to focus on delivering business capabilities and innovations that are market- and/or customer-differentiating.”

“We welcome Texas Mutual to the Guidewire Cloud,” said Frank O’Dowd, Chief Sales Officer, Guidewire Software. “We are pleased by the organization’s vote of confidence in our cloud services capabilities and applaud its mission of helping build a stronger, safer Texas by protecting businesses and their best assets – their people.”

About Texas Mutual Insurance Company

Austin-based Texas Mutual Insurance Company is the state’s leading provider of workers’ compensation insurance. We are now over 40% of the Texas market, and over 72,000 Texas businesses rely on us to keep their 1.5 million plus employees safe and on the job. Since 1991, the company has provided a stable, competitively priced source of workers’ comp insurance for Texas employers. Helping employers minimize the human and monetary consequences of workplace accidents is a key part of our mission. For more information, please visit www.texasmutual.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 400 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/20201216005027/en/

FAQ

What is the significance of Texas Mutual choosing Guidewire Cloud for GWRE?

Texas Mutual's selection of Guidewire Cloud signifies a shift to a more efficient IT operation, enhancing its ability to adapt to market needs and improve service delivery.

How will Texas Mutual benefit from Guidewire Cloud?

Texas Mutual anticipates streamlined IT processes, increased agility, and faster implementation of value-added features for its policyholders.

What has been the relationship between Texas Mutual and Guidewire prior to this announcement?

Texas Mutual has been a Guidewire customer since 2014, originally using a self-managed, on-premises solution before transitioning to the cloud.

What does the Guidewire Cloud offer to Texas Mutual?

Guidewire Cloud provides enhanced digital capabilities and a partner ecosystem that allows Texas Mutual to innovate and improve its offerings.

How does this partnership impact the stock GWRE?

The transition to Guidewire Cloud can potentially increase investor confidence in GWRE due to its expanding customer base and enhanced service offerings.