The Insurance Company of Prince Edward Island Selects Guidewire Cloud for Business Growth

Rhea-AI Summary

NYSE: GWRE - ICPEI Selects Guidewire InsuranceSuite on Guidewire Cloud to Streamline Operations and Drive Growth in the Canadian Insurance Market

Positive

• ICPEI's selection of Guidewire InsuranceSuite on Guidewire Cloud demonstrates its commitment to modernizing its technology platform and adapting to industry trends
• The implementation of InsuranceSuite across all lines of business in the provinces where ICPEI operates shows a comprehensive approach to leveraging the new technology
• The partnership with EY Canada as the lead implementation consultant and the selection of SmartCOMM from Smart Communications for customer communications management indicate a strategic and holistic approach to the transformation program

Negative

• None.

CHARLOTTETOWN, Prince Edward Island & SAN MATEO, Calif.--(BUSINESS WIRE)-- The Insurance Company of Prince Edward Island (ICPEI), a provider of personal and commercial insurance in Canada, and Guidewire (NYSE: GWRE) announced that ICPEI selected Guidewire InsuranceSuite on Guidewire Cloud to power its core business, simplify its IT operations, adapt to changing market demands, deliver more value to its broker partners and policyholders, and to continue to grow its business. ICPEI will implement InsuranceSuite simultaneously across all its lines of business in the provinces where the company operates. Guidewire PartnerConnect Consulting Global Premier member EY Canada will be leading the implementation project.

“We have a significant growth strategy so we needed a modern technology platform in the cloud that can help us quickly adapt to the industry trends impacting our market,” said ICPEI Vice President and Chief Information Officer Bryan Harper. “We selected Guidewire because they have the Canadian market leadership, product maturity, and track record of successful implementation projects, with the cloud focus for its product roadmaps and future commitments that we were looking for.”

Harper added, “Many of the brokers that we work with are already familiar with Guidewire. Guidewire Cloud will enhance our interactions with them digitally and enable us to make fast and simple rate changes, while running our operations more effectively and profitably.”

“We’re excited to work with ICPEI on their core platform transformation program by designing, developing and implementing custom solutions using EY Nexus™ for insurance accelerators,” said EY Canada Partner Shawn Antao. “From enhancing customer service and real-time broker connectivity to deploying new insurance options at speed, together we'll drive enterprise agility and help clients achieve their insurance goals.”

“We celebrate ICPEI’s more than 36 years of underwriting profitability and tailoring affordable insurance solutions for Canadian families and businesses,” said Guidewire Chief Sales Officer David Laker. “We’re delighted that Guidewire technology will contribute to the next chapter of ICPEI’s success as they continue to design and deliver insurance solutions to meet the needs of their fellow Canadians and grow nationally.”

ICPEI also selected SmartCOMM™ from Smart Communications for customer communications management. Guidewire is a reseller of Smart Communications, a Guidewire PartnerConnect Solution member.

About The Insurance Company of Prince Edward Island

Founded in 1987 and based in Charlottetown, the Insurance Company of Prince Edward Island (ICPEI) offers market-leading home, auto and commercial insurance solutions. The products are sold exclusively through a network of brokers across all three Maritime Provinces, Quebec, Ontario and Alberta.

ICPEI is a member of the Property & Casualty Insurance Compensation Corporation which protects policyholders from insolvent insurers, the Facility Association of Canada and the Insurance Bureau of Canada. For more information, please visit https://icpei.ca/en/.

About EY

EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

EY refers to the global organisation, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com. For more information about our organization, please visit ey.com. Follow us on Twitter @EYCanada.

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/20230802155620/en/

Diana Stott

Director, Communications

Guidewire Software, Inc.

+1.650.781.9955

dstott@guidewire.com

Dina Elshurafa

Public Relations Specialist

EY Canada

519-697-2694

dina.elshurafa@ca.ey.com

Melissa Nadon

Marketing Supervisor / Superviseure Marketing

The Insurance Company of Prince Edward Island

Phone number

905-602-2153 / 514-518-8741

mnadon@icpei.ca

Source: Guidewire Software

FAQ

What technology platform did ICPEI select for its core business operations?

ICPEI selected Guidewire InsuranceSuite on Guidewire Cloud to power its core business and simplify its IT operations.

Who will be leading the implementation project for ICPEI?

Guidewire PartnerConnect Consulting Global Premier member EY Canada will be leading the implementation project for ICPEI.

What are the key reasons for selecting Guidewire as the technology provider?

ICPEI selected Guidewire due to its Canadian market leadership, product maturity, and track record of successful implementation projects, as well as its cloud focus for product roadmaps and future commitments.

What additional solution did ICPEI select for customer communications management?

ICPEI also selected SmartCOMM from Smart Communications for customer communications management, with Guidewire being a reseller of Smart Communications as a PartnerConnect Solution member.