Clearspeed Joins Guidewire Insurtech Vanguards Program

Rhea-AI Summary

Clearspeed has joined the Guidewire Insurtech Vanguards program, enhancing its collaboration with insurers to introduce AI-driven voice analytics for fraud detection. The company boasts a fraud detection accuracy exceeding 97%, enabling quick decisions on claims processing. This partnership positions Clearspeed's technology to optimize claims service for Guidewire's 450+ insurance customers, helping maintain low overhead while improving combined ratios. The program connects emerging tech solutions with property and casualty (P&C) industry players, fostering innovation.

Positive

• Joined Guidewire Insurtech Vanguards program, increasing visibility and collaboration with the P&C industry.
• Achieved fraud detection accuracy of over 97%, significantly improving claims processing efficiency.
• Facilitates enhanced claims service for over 450 Guidewire insurance customers.

Negative

• None.

SAN DIEGO--(BUSINESS WIRE)-- Clearspeed, a leader in AI voice analytics, announced that the company has joined the Guidewire Insurtech Vanguards program, a new initiative led by property and casualty (P&C) cloud platform provider Guidewire (NYSE: GWRE), to help insurers learn about the newest insurtechs and how to best work with them.

Through its exceptionally high level of fraud detection accuracy (>97%), Clearspeed helps carriers decide quickly and confidently whether claims should go straight through or be flagged for further follow up.

"We are honored to be showcased as an Insurtech Vanguard by Guidewire,” says Clearspeed CEO, Alex Martin. “Clearspeed’s easy integration with a carrier's existing tools and processes could enable Guidewire’s 450+ insurance customers to optimize their claims service while significantly improving their combined ratios."

Insurtech Vanguards is a community of select startups and technology providers that are bringing novel solutions to the P&C industry. As part of the program, Guidewire provides strategic guidance to and advocates for the participating insurtechs, while connecting them with Guidewire’s P&C customers.

"Clearspeed’s powerful AI-enabled technology is helping insurers identify the risk of fraud using voice analytics assessment,” said Guidewire Chief Evangelist Laura Drabik. “We are thrilled to welcome Clearspeed and its innovative early detection technology to our program.”

Clearspeed’s unbiased voice technology works in any language and raises the industry bar for claims processing speed and accuracy and boosts a carrier’s ability to optimize their claims service for policyholders while keeping fraud in check and overhead low.

About

Clearspeed is the market leader for accelerating claims processing by identifying potential fraud risk in speech. Global organizations trust our highly accurate and unbiased AI voice analytics to fast-track transactions and people by quickly screening for either financial fraud or security risk. Our customers and partners rely on the unique data we provide to reduce their costs, improve their risk confidence and operational efficiencies, while keeping fraud in check. Learn more at www.clearspeed.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220601005876/en/

Matthieu McHenry

info@clearspeed.com

Phone: 650-268-9907

Source: Clearspeed

FAQ

What is the significance of Clearspeed joining the Guidewire Insurtech Vanguards program?

Joining the program allows Clearspeed to collaborate closely with insurers and improve its market presence, benefiting from Guidewire's extensive network.

What technology does Clearspeed provide to insurers?

Clearspeed offers AI-driven voice analytics that help detect fraud with over 97% accuracy, streamlining claims processing.

How does Clearspeed's technology benefit Guidewire's customers?

Clearspeed's solutions help Guidewire's customers optimize claims services, reduce overhead, and maintain low fraud risk.

What is the focus of the Guidewire Insurtech Vanguards program?

The program focuses on connecting innovative startups with property and casualty insurers to foster collaboration and technological advancement.

What are the key advantages of Clearspeed's fraud detection solutions?

Clearspeed's solutions enhance claims processing speed and accuracy, ensuring low overhead and efficient fraud management.