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Guidewire Unveils End-to-End Usage-Based Insurance Solution

Guidewire Unveils End-to-End Usage-Based Insurance Solution

P&C insurers can meet customers' changing needs by bringing UBI to market in 12 weeks
SAN MATEO, Calif., 5 maio, 2021

Guidewire Software, Inc. (NYSE: GWRE), the platform P&C insurers trust to engage, innovate, and grow efficiently, today announced the availability of Guidewire’s Usage-Based Insurance Solution. Designed with speed in mind, the UBI Solution can be deployed within 12 weeks and supports the end-to-end insurance lifecycle including quote, billing, and automated claims intake.

Forrester Research projects usage-based insurance policies to grow 50 percent in 2021. [1] “Increasing appetite for usage-based insurance (UBI) in personal auto will drive insurers to rethink how they help customers discover and use auto insurance,” wrote Jeffery Williams, senior analyst, Forrester Research in a recent blog post. “COVID-19 has ushered in a new paradigm where consumers are more conscious about price transparency. That will result in strong new business growth across the sector.” [2]

Available exclusively on Guidewire Cloud, Guidewire’s UBI solution accelerates deployment with a prebuilt package of capabilities, services, and integrations with Guidewire PartnerConnect Solution partners, Cambridge Mobile Telematics and TrueMotion for telematics.

"Personal lines insurers want to offer UBI as fast as possible to their customers, and with Guidewire they can in just a few months,” said Eugene Lee, senior vice president and general manager, Guidewire. “Guidewire’s UBI Solution was informed by our experience with multiple UBI-specific deployments, and unlike other offerings that focus only on product definition, the solution is designed to support the entire quote-to-claim lifecycle.”

One of those UBI deployments was at CAA Insurance Company, Canada’s largest not-for-profit automobile association. “As the pandemic continues, so do the financial hardships faced by many households," said Matthew Turack, president of CAA Insurance Company. “In response, we quickly launched a new MyPace product using Guidewire to help our customers who were working from home save on auto insurance costs. Our customers appreciated our responsiveness and sales have exceeded our expectations with a 300 percent year-over-year increase in new auto policy sales and 72 percent increase in new customers.” CAA has been an in-production InsuranceSuite customer since 2012.

Learn more about Guidewire UBI

To learn more about Guidewire’s UBI solution, read a recent blog post here, and please visit: http://www.guidewire.com/solutions/usage-based-insurance.

Read about CAA’s UBI offering in a Celent case study, “Building a First-to-Market Pay as you Drive Offering” and hear more about the initiative in an InsurTalk podcast interview with Laura Drabik, chief Evangelist, Guidewire, and Matthew Turack, president, CAA Insurance Company.

[1] Forrester Research, Inc., Predictions 2021: Insurers Find Opportunity Amid Chaos, Jeffery Williams, October 30, 2020

[2] Forrester blogs, Predictions 2021: Insurers Find Opportunity Amid Chaos, Jeffery Williams, October 30, 2020

Sobre os softwares da Guidewire

A Guidewire é a plataforma de confiança das seguradoras gerais para engajamento, inovação e crescimento com eficiência. Combinamos aplicativos digitais, principais, de análise e inteligência artificial para fornecer nossa plataforma como um serviço em nuvem. Mais de 400 seguradoras, desde novatas até as maiores e mais complexas do mundo, operam com produtos Guidewire.

Como parceiro de nossos clientes, evoluímos constantemente para viabilizar o seu sucesso. Temos orgulho de nosso histórico inigualável de implementações, com mais de 1.000 projetos bem-sucedidos, desenvolvidos com o apoio do maior ecossistema de parceiros e equipe de P&D do setor. Nosso marketplace disponibiliza centenas de aplicativos que aceleram a integração, a localização e a inovação.

Para obter mais informações, acesse www.guidewire.com e siga-nos no Twitter: @Guidewire_PandC.

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