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Guidewire Software Introduces Guidewire Live – The Property/Casualty Industry’s First Network Of Insurers, External Content, And Apps

Stocks in this article: GWRE

At Connections 2012, Guidewire Software, Inc. (NYSE: GWRE), a leading provider of flexible core systems to Property/Casualty (P/C) insurers, today announced the general availability of Guidewire Live SM, a network connecting Guidewire customers to one another, curated external content, and expert tools. Customers will access Guidewire Live through instant-on, easy-to-use apps. Guidewire Live delivers relevant context to P/C insurance professionals based on who they are and the problems they are trying to solve.

Guidewire Live is deployed as a cloud-based, instant-on solution that can be used by Guidewire customers within days, without the need for an implementation project. Guidewire Live enables insurers to compare their operational performance against their peers at a level of accuracy and granularity never before seen in the industry. Live apps leverage the technology platform and core data model shared by all insurers using Guidewire applications, as well as curated external content such as weather, geographic and demographic data.

“We have been a Guidewire customer for many years and can say from experience that Guidewire continues to innovate. Live is really ground-breaking for the industry and has the potential to take insurance to the next level,” said Sean Welch, senior assistant vice president, Amica Mutual Insurance Company. “We are excited to be among the first group of Guidewire customers to use Live and we can’t wait to see what comes next.”

The initial launch of Guidewire Live includes the following apps:

  • Compare – Enables insurers to compare themselves against themselves or a peer benchmark, across dozens of key operational metrics, for any time period in history.
  • Contrast – Quickly identify hotspots and potential areas of interest by presenting metrics and industry benchmarks in explorable, zoomable maps.
  • Before & After SM – Allows insurers to set a milestone date and see how they and others performed before and after that milestone.
  • Hail Forensics – Users can travel to a particular time and location and see where the hail fell, how big it was, which policies were affected, and what claims were filed.
  • Connect – A secure discussion forum of like-minded, forward-thinking insurers designed to foster learning and networking among members of the Guidewire customer community.

“Celent sees many insurers looking for data-based sources of operational and strategic advantages. With the introduction of Guidewire Live, Guidewire is leveraging its large base of installed customers, who use various combinations of Guidewire solutions running on a shared data model. Guidewire Live puts benchmark data and analyses in the hands of managers and executives looking for those kinds of advantages,” said Donald Light, research director, Insurance, Celent.

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