Core Insurance, Insurance Technology
Business Wire | August 01, 2023
Franklin Mutual Insurance Group (FMI), a P&C insurance provider for residents and business owners in New Jersey and Pennsylvania, and Guidewire (NYSE: GWRE) announced that FMI successfully implemented Guidewire InsuranceSuite on Guidewire Cloud to power its core business, simplify its IT operations, adapt more quickly to changing market demands, and deliver more value to its agents and policyholders. The company migrated InsuranceSuite from a self-managed environment to Guidewire Cloud simultaneously for all lines of business except Business Owner Policy (BOP), which is currently in implementation. Guidewire PartnerConnect Consulting Global Premier member PwC led the implementation project.
“Leveraging Guidewire in the cloud is a more economical way of using the technology,” said FMI Chief Technology Officer Steve Romanow. “While our business strategies and objectives haven’t changed, Guidewire Cloud is enabling us to execute them more quickly. We’re utilizing InsuranceSuite's full capabilities compared to a self-managed environment and staying current with Guidewire’s latest technology and innovation through regular Guidewire Cloud updates.”
Romanow added, “Thanks to Guidewire, PwC and CastleBay Consulting, we were able to conclude the implementation project on time and on budget. The overall efficiencies provided by Guidewire Cloud have allowed our staff to focus on delivering value to our agents and policyholders to grow our business.”
“We're proud to have helped Franklin Mutual Insurance facilitate this implementation to Guidewire Cloud,” said PwC Managing Director Jay Davidson. “The successful deployment wouldn't have been possible without the collaborative efforts of an exceptional team. This implementation reaffirms FMI’s commitment to both their customers and their business by providing enterprise agility and scalability for the future.”
“We congratulate Franklin Mutual Insurance on its successful cloud transformation through its InsuranceSuite migration to Guidewire Cloud,” said Guidewire Head of Services Michael Mahoney. “We’re excited to work with the company to help them continue their commitment to policyholders through dedication to a strong ethical culture, excellent customer service, consistency in the marketplace, and financial strength.”
FMI also migrated its self-managed installations of DataHub and InfoCenter onto Guidewire Cloud. The company is also leveraging SmartCOMM™ from Smart Communications for customer communications management. Guidewire is a reseller of Smart Communications, a Guidewire PartnerConnect Solution member.
About Franklin Mutual Insurance
Franklin Mutual Insurance is one of the most established and respected insurance companies in New Jersey. In business since 1879, FMI offers superior coverages to New Jersey residents and business owners, sold exclusively through professional independent agents. Rated A (Excellent) by A.M. Best, we have the financial strength and stability to protect our insureds and continue to grow our business. For more information, please visit https://www.fmiweb.com/site/.
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 152 countries with over 327,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI 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.
Core Insurance, Insurance Technology
GlobeNewswire | August 10, 2023
Celina Insurance Group, a community-focused provider of P&C insurance for over 100 years, recently announced their selection of insurtech company Betterview. Celina will utilize Betterview’s Property Intelligence and Risk Management solution to drive more accurate assessments of property conditions during policy renewal.
Celina sought out an insurtech partner to obtain reliable and consistent data on roof condition, an especially relevant factor for Midwestern insurers dealing with inclement weather. Previously, Celina’s underwriters relied on time-consuming physical inspections to assess roof condition and often had to make adjustments later in the policy lifecycle. Betterview provided Celina with more accurate property data upfront and an extensive selection of roof-related property insights for improved risk selection and efficient underwriting.
“Betterview gave us even more than we asked for,” says Trish Harlamert, vice president of underwriting at Celina. “There are so many great datasets and tools on their platform, including a full, transparent assessment of overall roof condition and the ability to flag changes in property condition over time. This is extremely useful for renewals because we can see if a policyholder has added a swimming pool, trampoline, or even an additional structure since the last time we had eyes on the property.”
Betterview is confident their platform will drive more efficient renewal workflows for Celina. “Our platform empowers insurers like Celina with an instant, AI-powered view of current and historical roof condition. Our mature machine models can detect over two dozen relevant risk drivers, including staining, ponding, and missing shingles,” says Dave Tobias, chief operating officer and co-founder at Betterview. “Equipped with the best property data, they can make more informed decisions and collect adequate premiums without relying on costly, time-consuming physical inspections.”
Betterview is the Property Intelligence & Risk Management Solution the insurance industry depends on to identify and mitigate property risk, improve underwriting and inspection efficiency, and build a more transparent customer experience. Applying Artificial Intelligence (AI) and computer vision to aerial imagery and geospatial data, Betterview generates the most accurate property information insurers trust to automate pricing, underwriting, and renewals while focusing strategic action on critical properties. Combined with flagging, continuous monitoring, and pre-filed peril risk scores, Betterview is helping transform property insurance from Repair and Replace to Predict and Prevent. For more information, please visit www.betterview.com
About Celina Insurance Group
Celina Insurance Group is comprised of four mutual property and casualty insurance companies. The companies provide protection for autos, homes, businesses and farms through more than 500 independent agencies in five states. Founded in 1914 with headquarters in Celina, Ohio, the organization is committed to supporting its policyholders and communities. https://www2.celinainsurance.com
Core Insurance, Risk Management
Newswire | July 25, 2023
ALKEME, a Top 50 Insurance Brokerage, announced the acquisition of the Paul Kinan Insurance Group and Wiggins Farha Insurance Group, both full-service insurance agencies operating out of Placentia, California, and Wichita, Kansas, respectively.
Tracing its roots back to 1986, Paul Kinan Insurance Group has a long track record of success in Southern California built on its strong customer service philosophies. The company provides a wide variety of property and casualty insurance solutions to individuals, families and businesses.
Wiggans Farha Insurance Group is an independent insurance agency serving the state of Kansas and the Midwest region as a subsidiary of Paul Kinan Insurance Group.
"Paul Kinan Insurance Group and Wiggans Farha add more industry-leading insurance brands to our growing platform" said Curtis Barton, CEO of ALKEME. "They have an amazing, highly experienced team and an approach to customer service that fit in perfect with the ALKEME culture."
"We are excited to join forces with a national-scale partner to expand the resources and capabilities of our group," said Paul Kinan and Greg Locy of Paul Kinan Insurance Group and Wiggans Farha, respectively. "As the insurance industry is changing every day, it made perfect sense to take advantages of the many benefits we can pass along to our clients by working with ALKEME."
ALKEME helps insurance brokerages realize sustainable growth and success through the creative use of innovation, shared services, consultation, and marketing. Our proven methodology, unmatched expertise, and externally validated results have quickly propelled us into the top-50 privately held insurance agencies in the U.S. Partners across the country rely on ALKEME's proven platform coupled with experience, resources, and long-term perspective to help them realize sustainable growth and success in a rapidly modernizing insurance world. Based in Ladera Ranch, California, and backed by GCP Capital Partners, ALKEME serves thousands of clients with a wide range of offerings including P&C, Benefits, Surety, Risk and Wealth Management.