Press Release

Canal Insurance Company Drives Smart Claims Decisions with Guidewire Cloud-Based Predictive Analytics Solution

Guidewire Predictive Analytics™ to help commercial transportation insurance provider build and implement claims models seamlessly

GREENVILLE, S.C., and FOSTER CITY, Calif., October 8, 2018

Canal Insurance Company, a commercial trucking and specialty transportation insurance provider, and Guidewire Software, Inc. (NYSE: GWRE), provider of the industry platform Property and Casualty (P&C) insurers rely upon, today announced that Canal plans to utilize Guidewire Predictive Analytics™ for Claims to complement Guidewire ClaimCenter™, the claims management system it has been using since 2004. The company is one of Guidewire’s earliest customers and plans to implement Predictive Analytics for Claims in early 2019 for its largest line of business – commercial auto liability. Canal also successfully deployed Guidewire BillingCenter™ in 2013.

Canal is combining ClaimCenter and Predictive Analytics for Claims to create a Smart Core™ system that will use advanced analytics to solve specific business problems and deliver actionable insights at the time key decisions are being made.

“Canal selected Guidewire Predictive Analytics for Claims as its solution based on the capabilities of the machine-learning engine, the ability to deliver real-time predictive insights into our claims workflow, and the expertise of Guidewire Professional Services,” said Christopher Greene, Senior Vice President, Chief Claims Officer & General Counsel, Canal. “Our analytics team can now gather claims data, build, and implement models seamlessly compared to the policy-side models we had built and used in the past. We also look forward to potentially improving our loss ratios by making sure that incoming claims are promptly assigned to the right resources as well as early detection of claims that might escalate into large losses.”

“We are pleased that Canal has embarked on its Smart Core journey by expanding its relationship with Guidewire and selecting Predictive Analytics to complement its longtime use of ClaimCenter,” said Steve Sherry, Chief Sales Officer, Guidewire Software. “We are humbled by Canal’s confidence in our technology and look forward to continuing our partnership in helping the company adapt and succeed in its mission of insuring transportation risks.”

About Canal Insurance Company

Canal Insurance Company is a third generation family owned and operated insurance company, specializing in commercial trucking since its inception, almost 80 years ago. Canal is recognized in the insurance industry as a stable, responsive and financially strong leader. Underwriting in forty-six (46) states, Canal is represented by a network of independent general agents across the country. Visit canalinsurance.com for other news and information.

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.

For more information, please visit www.guidewire.com and follow us on Twitter: @Guidewire_PandC.

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