Oldest U.S. P&C insurer to use InsuranceNow in the cloud to reduce IT complexity and enable more focus on innovation
The Philadelphia Contributionship (TPC), the oldest Property and Casualty (P&C) insurance company in the United States, and Guidewire Software, Inc. (NYSE: GWRE), a platform P&C insurers trust to engage, innovate, and grow efficiently, today announced that TPC will leverage InsuranceNow delivered through Guidewire Cloud. This move will enable the company to focus more on innovation and higher value business initiatives, and facilitate quicker upgrades to stay current with Guidewire technology.
TPC has been using InsuranceNow self-managed since 2014 to modernize its core operations and enhance its service to policyholders, agents, and support staff. The company is currently moving InsuranceNow to Guidewire Cloud across all of its personal lines of business in the states where it operates.
“Guidewire has been an ideal partner for us during these past six years that we’ve been in production with InsuranceNow, the pre-eminent all-in-one core system for regional and super-regional insurers in the marketplace today. We are renewing our commitment to this partnership by migrating to Guidewire Cloud, while Guidewire commits to assuming the responsibilities for maintaining InsuranceNow moving forward,” said Kevin Tate, vice president, chief financial officer, treasurer, and assistant secretary, The Philadelphia Contributionship. “We are confident that moving to Guidewire Cloud will help increase our IT staff efficiency by freeing them from having to constantly maintain our systems and instead empowering them to be able to focus on driving mission-critical business objectives to further accelerate our growth.”
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Mark Montagna, chief information officer, The Philadelphia Contributionship, said, “With Guidewire Cloud, we will be able to stay up-to-date with Guidewire’s product growth and vision, and give customers the uptime and performance they have come to expect from us. Moreover, Guidewire Cloud is powered by Amazon Web Services (AWS) which provides the security, scalability, and flexibility to adapt InsuranceNow based on our business needs.”
“We are pleased with The Philadelphia Contributionship’s recognition of the advantages in running its business in Guidewire Cloud,” said Frank O’Dowd, chief sales officer, Guidewire Software. “We applaud its mission of providing insurance protection that puts people first, through uniquely personal service, strong partnerships and an unmatched history of financial stability.”
Guidewire Cloud is the optimal way to experience the power of Guidewire, combining digital, core, analytics, and AI to deliver our platform as a cloud service. It scales according to use, provides cost predictability, and transfers IT risk to Guidewire. Expert Guidewire teams and our cloud-certified partners provide implementation services, security, ongoing management, and regular updates. All Guidewire products are available through Guidewire Cloud, which runs on AWS.
