Close Ties Between Promutuel Insurance and Guidewire for Underwriting and Policy Administration
QUEBEC CITY and FOSTER CITY, CA: Promutuel Insurance, one of the largest insurance companies in Quebec City and Guidewire Software, a provider of software products for P/C insurers announced to collaborate with Guidewire PolicyCenter for its new underwriting and policy administration solution. Promutuel Insurance went ahead and also chose Guidewire Rating and Guidewire Reinsurance Management reported by Business Wire.
With revenues worth $660 million, Promutuel Insurance’s commercial and farm line business would be managed under PolicyCentre. V-Neo, affiliated member of Guidewire PartnerConnect has been chosen to lead the project and would work in closer ties with Guidewire.
In transformation period, Promutuel Insurance changed its focus updating its underwriting and policy administration platform to upgrade the policies. The company reached out for efficient automated business processes eliminating clerical tasks and synchronizing it’s underwriting and policy administration efforts among 26 mutual insurance associations.
“The process of selecting Policy Center was quick and easy for us due to the success of our Claim Center deployment project and our relationship with Guidewire,” said Benoit Duchesne, business project director at Promutuel Insurance.
Policy Center provides assistance in enhancing operational efficiency through automation across underwriting and policy administration processes, control, consistency and responsiveness over rating and pricing through all phases of product lifecycle, built-in best services and processes to standardize across its mutual companies and finally more efficiency in customer service and better opportunities for cross and up selling.
Guidewire PolicyCenter is designed to support both commercial and personal lines. It also assists the front and back office processes from new business and quote through policy renewals. It is also available as a standalone system or as a part of Guidewire Insurance Suite and can be united to insurer’s legacy system or third party applications.
“We are honored that Promutuel Insurance has extended its Guidewire selection to include PolicyCenter,” said Steve Sherry, group vice president, Americas Sales, Guidewire Software. “We recognize Promutuel Insurance’s commitment to increasing their operational efficiencies and streamlining their business processes and look forward to working with them on this project.”
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