Guidewire Predictive Analytics

A platform that turns data into actionable insights, empowering insurers to make data-driven decisions throughout the insurance lifecycle

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Across the enterprise, Guidewire Predictive Analytics helps property and casualty insurers adapt and succeed as they progress along their journeys to becoming organizations that are 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.

Predictive Analytics Benefits

Make data-driven decisions

Predictive Analytics helps insurers make data-driven decisions throughout the insurance lifecycle:

  • Provides assessments of future profitability at the quote and renewal stages, enhancing the skills and experience of the individual underwriter
  • Helps claims departments route claims to the most appropriate adjusters, and helps adjusters more accurately apply claims management resources
  • Identifies the characteristics of high-performing agents so that companies can recruit and confidently appoint new, high-potential agents

Reduce expenses

Predictive models help insurers reduce expenses by:

  • Identifying the value of third-party data in predicting outcomes and enabling more targeted use of the data, such as motor vehicle reports (MVRs), property inspections, and credit reports
  • Lowering loss adjustment expenses by reducing re-adjudication and enabling more accurate claims triage

Grow profitably

    Predictive Analytics enables insurers to improve both profitability and growth:

    • Improve rating sophistication and granularity
    • Identify and address pricing inaccuracies
    • Target new market opportunities and react more quickly to market changes

    Predictive Analytics Apps

    • Predictive Analytics for Claims

      Specialized for a specific set of claims problems such as claim severity, claim routing and assignment, and claims with the potential for litigation or subrogation

    • Predictive Analytics for Profitability

      Tuned for important insurance portfolio questions such as ratemaking, underwriting risk selection, underwriting cost reduction, customer lifetime value, portfolio optimization, and marketing distribution