Guidewire Software (NYSE: GWRE), a provider of software products to the Property and Casualty (P&C) insurance industry, today announced that Markel has expanded its use of Guidewire Predictive Analytics™ within its workers Compensation business. The workers compensation program of Markel, which serves 80,000+ policyholders across 42 states, is leveraging Predictive Analytics for Claims’ modeling for its business.
“Companies like Markel have to compete in a challenging and changing environment,” said Mike Polelle, Chief Delivery Officer, Guidewire. “We are honored that such a talented team looks to Guidewire Predictive Analytics to help them find innovative ways to improve their business to adapt and succeed in such a dynamic environment.”
“I am pleased with the expansion efforts and look forward to leveraging Guidewire Predictive Analytics more broadly,” explained James Gregg, Senior Director of Analytics, Markel.
Guidewire Predictive Analytics™ turns data into actionable insights, empowering insurers to make data-driven decisions through-out the insurance lifecycle. It helps general insurers adapt and succeed as they progress along their journeys to becoming organizations driven by data and analytics. By building predictive models from multiple data sets, analyzing model output, and deploying predictive models to provide front-line guidance to decision makers, insurers can realize significant reductions in loss ratio and expenses while growing the top line. Part of Guidewire’s Data and Analytics family of products, Guidewire Predictive Analytics includes apps for addressing claims management decisions and underwriting and distribution objectives.
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 400 insurers, 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.