Guidewire
Software® (NYSE:GWRE), a provider of software products to
Property/Casualty insurers, today announced the availability of a new Guidewire
LiveSM app for insurance underwriters. Guidewire Live
Spotlight™ is an instant-on hosted application that empowers
underwriters to make better decisions by automating the assessment of
location-based risk.
Accurate risk selection is key to building a profitable business. Too
often however, underwriters are forced to scavenge for relevant external
data sources in order to get the information they need to review a risk.
Underwriting challenges addressed by Spotlight include: location
inaccuracies, inconsistencies in the underwriting process within the
organization, and the need to make more transparent decisions.
Guidewire Live Spotlight brings together relevant data from internal and
external sources, applies company specified algorithms to generate
peril-based alerts, and presents the evaluation results to the
underwriter visually for detailed interaction. With Spotlight,
underwriters can see at-a-glance which policies are in a high risk area
such as a flood or crime zone, enabling them to more accurately
underwrite the risk.
“We are excited about how Guidewire Live Spotlight will support our
underwriters in visualizing the geospatial and natural peril exposures
associated with a property/location being underwritten and to see the
other risks that we underwrite in the vicinity,” said Alastair Latimer,
Insurance Systems Manager at Guild Insurance. “We view this as a useful
extension of our Guidewire investment and expect it to deliver more
consistent and better informed desk-based underwriting decisions.”
“Spotlight has been designed and expressly built to aid the task of
Property/Casualty insurance underwriting,” said Eugene Lee, Vice
President, Data and Analytics, Guidewire Software. “It works in concert
with Guidewire PolicyCenter® and lets insurers define their own risk
data sources and assessment criteria. We are excited to be extending our
analytics capabilities to improve the quality of underwriting decisions.”
Guidewire Live Spotlight is currently available to insurers in the U.S.,
Canada, U.K., Australia, and New Zealand.
About Guidewire Live
Guidewire
LiveSM is a cloud analytics platform that delivers
instant-on apps that complement InsuranceSuite core systems. These apps
combine data from many different sources, including anonymized
benchmarks and third party data, to enable analysis and visualization of
that data in interesting new ways. Guidewire Live is available to any
Guidewire customer.
About Guidewire Software
Guidewire builds software products that help Property/Casualty insurers
replace their legacy core systems and transform their business. Designed
to be flexible and scalable, Guidewire products enable insurers to
deliver excellent service, increase market share and lower operating
costs. Guidewire InsuranceSuite™ provides the core systems used by
insurers as operational systems of record. Additional products provide
support for data management, business intelligence, anytime/anywhere
access and guidance and monitoring. More than 180 Property/Casualty
insurers around the world have selected Guidewire. For more information,
please visit www.guidewire.com.
Follow us on twitter: @Guidewire_PandC.
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire
PolicyCenter, and Guidewire BillingCenter are registered trademarks of
Guidewire Software, Inc. in the United States and/or other countries.
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