Grinnell Mutual Reinsurance Company, a provider of property and casualty (P/C) insurance and reinsurance to customers in 15 states, and Guidewire Software, Inc. (NYSE:GWRE), a provider of software products to P/C insurers, today announced that Grinnell Mutual has selected Guidewire InsuranceSuite™, Rating Management, Client Data Management, and Business Intelligence for InsuranceSuite as its platform for policy administration, billing, claims management, underwriting, rating, client data management, and analytics. The company has also selected Guidewire Quote and Buy Portal™ for Policyholders, Account Management Portal for Policyholders, and Gateway Portal for Agents to enhance the digital experience of its policyholders and agents. Guidewire PartnerConnect™ Consulting member Cynosure, a boutique global consulting firm specializing in the implementation of Guidewire InsurancePlatform™ products, is leading the implementation.
Grinnell Mutual selected Guidewire Core and Digital products to transform how it does business and enhance its commitment to serving its mutual members, agents and policyholders. The company is entering a new market, and will be implementing all of the products at the same time for its personal lines of business. Following that deployment, Grinnell Mutual will be looking to implement the Guidewire systems in the other states where it currently does business.
“We were looking for a vendor that could provide the comprehensive platform we needed. After an intensive evaluation process, we selected Guidewire because we wanted a fully integrated suite of products to improve operational effectiveness, efficiency, and customer service,” said Roby Shay, Grinnell Mutual vice president, Enterprise Solutions, and chief information officer. “Guidewire’s vision, P/C industry focus, and product maturity were also attractive to us.”
“This is the biggest organizational transformation we have ever sought to achieve, so it was extremely important that our business and technology stakeholders were involved in the decision-making process,” Shay continued. “We are confident that Guidewire’s systems will enable our employees, agents, and mutual members to focus on their core competency: providing our policyholders with the very best insurance and service we can offer.”
Guidewire’s products will enable Grinnell Mutual to:
“We are delighted that Grinnell Mutual has partnered with Cynosure for their Guidewire product implementations,” said Anupam Mittra, Senior Director and Co-founder, Cynosure. “There is synergy between our firms and we look forward to helping Grinnell Mutual transform its business and continue succeeding in the agile insurance landscape.”
“We welcome the addition of Grinnell Mutual to the Guidewire customer family,” said Ken Shapiro, group vice president, Americas Sales, Guidewire Software. “We applaud Grinnell Mutual’s commitment to helping ensure its ability to compete in the rapidly changing insurance marketplace, and we look forward to working with them and Cynosure on this project.”
Located in Grinnell, Iowa, Grinnell Mutual operates in Illinois, Indiana, Iowa, Minnesota, Missouri, Montana, Nebraska, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, and Wisconsin, and Virginia, partnering with and reinsuring 250 FarMutual members and offering direct lines of insurance through a network of more than 1,600 independent agencies. We are the largest, primary reinsurer of farm mutual companies in North America and continue to receive an A rating from A.M. Best, a leading industry rating service, as we have for more than 20 years.
Based in Jacksonville, Florida, Cynosure is a team of Guidewire InsurancePlatform™ experts focused on simplifying core system transformation for insurers. Cynosure was founded with the objective of helping Guidewire Software® customers lower their total cost of ownership. Leveraging its deep understanding of Guidewire products, Cynosure delivers speed and efficiency to its clients’ business operations.
Guidewire delivers the software that Property/Casualty (P/C) insurers need to adapt and succeed in a time of rapid industry change. We combine three elements – core operations, data and analytics, and digital engagement – into a technology platform that enhances insurers’ ability to engage and empower their customers and employees. More than 260 P/C insurers around the world have selected Guidewire.