Guidewire (NYSE: GWRE) announced that Predict, its market-leading predictive analytics solution, has been named the “Predictive Analytics Solution of the Year” in the 2023 Data Breakthrough Awards program. The program is conducted by Data Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies, and products in the global data technology market today.
“We are thrilled that Data Breakthrough has recognized Predict as an innovative, standout solution,” said Roger Arnemann, Senior Vice President and General Manager, Guidewire Analytics. “Predict helps our customers optimize their business outcomes and processes, while lowering expenses and mitigating risk. It is a powerful application helping insurers, reinsurers, and MGAs make the world more insurable by turning systems of record into systems of insight.”
The annual Data Breakthrough Awards program is the premier awards program founded to recognize data technology innovators, leaders, and visionaries from around the world in a range of categories, including data analytics, big data, business intelligence, data storage and more. In its fourth year, the awards program attracted more than 2,000 nominations from across the globe.
“While it is not uncommon for insurers to have dedicated teams of data scientists and actuaries that may use a variety of modeling tools and techniques to improve risk selection, pricing, retention, and claims outcomes, the reality is that most insurers struggle with operationalizing the analytic insights and outcomes within day-to-day core processes to create business value,” said James Johnson, Managing Director, Data Breakthrough. “Guidewire Predict addresses this challenge head-on. We extend our sincere congratulations to Guidewire for taking home our ‘Predictive Analytics Solutions of the Year’ award in 2023!”
Predict is a P&C-specific machine learning application that delivers embedded predictions to underwriters and claims adjusters, enabling smarter decisions on risk selection, pricing, claims triage, and settlement. It accelerates speed-to-market, embeds real-time predictive insights with adaptive workflow, and facilitates better business outcomes with improved collaboration.
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