Bowhead Specialty Underwriters, Inc. Implements Guidewire InsuranceNow to Accelerate Product Development and Growth

Rhea-AI Summary

Guidewire (NYSE: GWRE): Bowhead Specialty Implements InsuranceNow to Drive Innovation and Accelerate Product Launches

Positive

• Bowhead successfully implemented Guidewire InsuranceNow to drive innovation and accelerate product launches, demonstrating a commitment to modernization and efficiency in their specialty lines business.

Negative

• None.

Specialty lines insurer leveraging core operations in the cloud to drive quoting and submission process innovation

NEW YORK & SAN MATEO, Calif.--(BUSINESS WIRE)-- Bowhead Specialty (Bowhead), a specialty lines underwriter, and Guidewire (NYSE: GWRE) announced that Bowhead implemented Guidewire InsuranceNow to accelerate the pace of launching new products and time-to-market. The company implemented InsuranceNow to its Casualty line of business nationwide and has begun implementing the system to its Professional Liability and Healthcare lines.

“Our priority was a cloud-first system with a modern architecture and integrated core, data, and digital components to enable the accelerated pace of our product development and sales,” said Bowhead Chief Information Officer Bob Spina. “We write a very craft-like business and wanted to drive innovation in our submission flow and quoting. InsuranceNow provided an all-in-one implementation approach, with the flexibility to introduce new products and expand our portfolio.”

Spina added, “Working with Guidewire, we stayed close to out-of-the-box with little configuration, as there is quite a bit of flexibility in the platform. We were on time and under our original statement of work – then added a new product line during implementation. We have the flexibility to incorporate flow traffic, and the role of InsuranceNow will soon increase in our quoting and billing. Analytics will also be an essential component of our business.”

“Bowhead has been a great partner throughout the process. We congratulate them on their successful InsuranceNow implementation and look forward to supporting their future growth,” said Guidewire Vice President of Insurance Delivery Richard Henderson. “We are delighted that InsuranceNow is providing the core platform enabling Bowhead to innovate and modernize its specialty lines.”

About Bowhead Specialty Underwriters

Bowhead Specialty Underwriters, Inc. is a fully licensed, specialty lines-focused underwriting organization affiliated with American Family Mutual Insurance Company, S.I., a major mutual insurer with over $8 billion in surplus who carries an AM Best Rating of A (XV). With three underwriting divisions, Professional Liability, Casualty, and Healthcare, Bowhead has established itself as a major participant in the U.S. specialty insurance market. Led by highly respected underwriting and claims teams, Bowhead Specialty has demonstrated the ability to meet complex insurance needs with customized and creative solutions delivered with first-class service. For more information, visit www.bowheadspecialty.com.

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. ​We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 500 insurers in 38 countries, 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 http://www.guidewire.com/ and follow us on Twitter and LinkedIn.

NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230801490502/en/

Diana Stott

Director, Communications

Guidewire Software, Inc.

+1.650.356.4941

dstott@guidewire.com

Anna Romano

Head of Marketing

Bowhead Specialty Underwriters, Inc.

+1.212.970.0269

aromano@bowheadspecialty.com

Source: Guidewire Software

FAQ

What is the latest announcement from Bowhead Specialty?

Bowhead Specialty has implemented Guidewire InsuranceNow to accelerate the pace of launching new products and time-to-market.

What are the key benefits of implementing InsuranceNow for Bowhead Specialty?

The implementation of InsuranceNow enables Bowhead to drive innovation in their submission flow and quoting, with the flexibility to introduce new products and expand their portfolio.

How has Guidewire responded to Bowhead's implementation of InsuranceNow?

Guidewire has congratulated Bowhead on their successful implementation and looks forward to supporting their future growth.

What are the future plans for Bowhead with regards to InsuranceNow?

Bowhead plans to increase the role of InsuranceNow in their quoting and billing processes, with analytics being an essential component of their business.

What is the overall goal of Bowhead's implementation of InsuranceNow?

The goal is to enable the accelerated pace of product development and sales, with a focus on modern architecture and integrated core, data, and digital components.