The Co-operators Group, a multi-product insurer, has selected Guidewire Software’s Rating Management and Reinsurance Management solutions.
Guidewire Reinsurance Management will manage Co-operators Group's ceded property/casualty reinsurance processes, while Rating Management will help The Co-operators Group to streamline rating process to quickly develop rates.
The new Guidewire solutions will enable Co-operators to reduce risk by detecting and managing treaty and facultative reinsurance arrangements as well as calculate ceded premiums, commissions, ceded reserves and recoverable amounts accurately for proportional reinsurance agreements.
Guidewire Software Strategy vice president Neil Betteridge said, "These companion modules coupled with InsuranceSuite will help The Co-operators to enjoy the increased breadth of core system capabilities available to help them meet their business objectives."