Guidewire Software ( GWRE Quick Quote GWRE - Free Report) has announced that its Guidewire InsuranceSuite on Guidewire Cloud has been selected by a property and casualty insurance company — Peace Hills General Insurance Company.
Peace Hills selected Guidewire Cloud to power its core systems and enhance its ability to engage with policyholders and brokers, adapt to changing market demands and simplify its IT operations. EY Canada, a member of Guidewire's PartnerConnect Consulting Premier program, will be leading the implementation project.
InsuranceSuite will serve as the company's system of record, providing a central repository for all policy and customer data. In addition, DataHub and InfoCenter will also enable Peace Hills to manage and analyze data across the organization, helping the company make informed decisions.
Finally, the deployment of Predict will allow Peace Hills to embed predictive insights into its InsuranceSuite workflows, turning the system of record into a system of insight that can help the company better anticipate and address the needs of its customers.
Apart from that, Peace Hills will be able to use the Guidewire Data Platform and analytics applications, as well as take advantage of the training and support offered by Guidewire.
Overall, the use of Guidewire Cloud is expected to help Peace Hills operate more efficiently, improve customer satisfaction and adapt to changing market conditions.
Guidewire continues to develop its cloud platform with new features such as digital frameworks, automation, tooling and other cloud services.
In October, the company
announced that its Guidewire InsuranceSuite on Guidewire Cloud had been selected by a France-based car insurance company, Ornikar. Ornikar will also gain from Guidewire's cloud platform's most recent updates and top-tier features.
Prior to that, Guidewire announced that the Canadian property and casualty insurer — Definity Financial Corporation — had moved its core insurance platform to Guidewire Cloud. Definity will leverage Guidewire Cloud, which runs on Amazon Web Services cloud technology, to improve security, mitigate planned and unplanned outages and manage rising cyber security risks.
Presently, Guidewire carries a Zacks Rank #3 (Hold). Shares of the company have lost 45.7% compared with the
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