Guidewire Software, Inc. (NYSE: GWRE), the platform P&C insurers trust to engage, innovate, and grow efficiently, today announced that Social Discovery Corp (SDC), a leading provider of social media background reports, has joined Guidewire PartnerConnect as a Solution partner. The companies also announced that SDC’s new Ready for Guidewire validated add-on is now available to insurers in the Guidewire Marketplace.
More and more, people are using social media to share their lives online. In 2019, it was estimated that 72% of the public uses some form of social media, and for many users, it is part of their daily life and routine. About three-quarters of Facebook users and roughly six out of ten Instagram users visit these sites at least once a day[1]. SDC has focused on harnessing the wealth of data that can be extracted from social media to address the estimated $6 billion that workers’ compensation insurance fraud costs insurers and employers each year[2].
Since 2013, SDC has been delivering social media background reports for the workers’ compensation industry. The reports are fully curated and customized to ensure they meet the specific parameters of the case type and the needs of adjusters and investigators. The company combines innovative software and human intel to help combat fraud and mitigate risk.
SDC’s Ready for Guidewire add-on for Guidewire ClaimCenter empowers claims professionals with streamlined access to SDC’s dynamic social media intel. SDC’s social media reports capture critical background research early in the claims process to help verify the claim, reducing the human and financial resource drain from insourced research and speeding up the claims decision-making process. Through the SDC add-on, these reports can be ordered and delivered within ClaimCenter to increase the efficiency of adjusters.
With the SDC Ready for Guidewire integration, insurers can reduce time and administrative burden as key data points from the claim file are automatically pre-filled and reports from SDC are received directly back into the claim file in ClaimCenter for easy reference.
“Fraud is a prevalent concern that insurers face, especially when handling workers’ compensation claims,” said Allan Stark, chief executive officer, Social Discovery Corp. “Our reports deliver insights that can be employed by insurers to help fight fraud from a new angle. Social Discovery Corp is excited to partner with Guidewire and provide a solution to our shared customers that will bring them high quality social media intelligence to help in this fight.”
“We welcome Social Discovery Corp as our latest Guidewire PartnerConnect Solution partner and are pleased to offer our joint customers access to their integrated solution in our marketplace,” said Neil Betteridge, vice president, strategy, Guidewire Software. “This integration provides claims teams with streamlined access to a solution that drastically reduces time for research and discovery by adjusters and investigators to increase their productivity and efficiency.”
About Social Discovery Corp.
Social Discovery Corp is a software-enabled services company specializing in social media background, investigative reporting and data analytics. Social Discovery teams are committed to ongoing training to master the ever-evolving landscape of social media reporting. Our expertise is derived from extensive experience in social media investigations combined with years of collective vertical market knowledge. Our passion is serving our customers with exceptional customer service, saving our customers time, money, and resources. For more information, visit https://socialdiscoverycorp.com/.
About Guidewire PartnerConnect ecosystem and Ready for Guidewire
Guidewire PartnerConnect Solution partners provide software, technology, and data solutions as well as insurance support services. Our Solution partners help drive business value and innovation for insurers by developing and delivering integrations, extensions, apps, and other complementary solutions for Guidewire products. All of our Ready for Guidewire partner solutions are validated for security, quality, and compatibility with Guidewire, and can be found on the Guidewire Marketplace.
For more information about Guidewire PartnerConnect please visit http://www.guidewire.com/partners.
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[1] https://www.pewresearch.org/internet/fact-sheet/social-media/
[2] http://www.insurancefraud.org/downloads/Fraud_tech_study_2019.pdf