Delos Insurance Selects Guidewire InsuranceNow to Increase Agent Digital Engagement for Business Growth

Rhea-AI Summary

Delos Insurance Solutions has selected Guidewire’s InsuranceNow platform to enhance digital engagement for its homeowners insurance in California. As a managing general agent focusing on wildfire-affected areas, Delos aims to leverage technology to analyze risks and offer coverage to homes misclassified as high-risk. The transition to a digital system via InsuranceNow is expected to improve efficiency and speed-to-market. This move reflects Delos's commitment to addressing climate change challenges in the insurance industry.

Positive

• Delos selected InsuranceNow to enhance agent engagement and business growth.
• Implementation of InsuranceNow aims to increase efficiency and speed-to-market.
• Delos fills a market gap by providing insurance in wildfire-affected areas.

Negative

• None.

Wildfire-focused insurance provider to leverage core operations in the cloud

SAN FRANCISCO & SAN MATEO, Calif.--(BUSINESS WIRE)-- Delos Insurance Solutions (Delos), a technology-powered insurance provider, and Guidewire (NYSE: GWRE) announced that Delos selected InsuranceNow to increase agent digital engagement for business growth. The company plans to implement InsuranceNow to its homeowners line of business in the state of California. Guidewire PartnerConnect Consulting member Exavalu will be leading the implementation project.

Delos is a managing general agent (MGA) focused on providing property insurance in catastrophe-affected areas. The insurance industry has been adept at being on the early edge of understanding how climate change is making catastrophes more disruptive. While many insurance companies have pulled out of communities at risk of wildfire, Delos’ founders recognized a market opportunity in leveraging their backgrounds in technology and data science to develop wildfire models and write insurance for the millions of low-risk homes that the insurance industry miscategorizes as high risk. The company is transforming their previously manual process to a digitalized technology platform through InsuranceNow.

“We selected InsuranceNow for its reliability and consistency to transform the interactions our agents have in working with us. As an early-stage startup, we have an opportunity to succeed quickly and don’t want to introduce any unnecessary risk into the company. Out of all the systems we evaluated, InsuranceNow was the best in meeting our requirements,” said Delos Founder and Chief Executive Officer Kevin Stein. “Guidewire is a recognized industry software platform. InsuranceNow will help increase efficiency and speed-to-market for our agents. By leveraging InsuranceNow on Guidewire Cloud, we will be able to take advantage of Guidewire’s latest technology and innovation, devoting less time to system maintenance.”

Exavalu President Saurav Basu said, “We’re honored to have been selected by Delos to implement InsuranceNow to innovate and rapidly scale the business. We look forward to the partnership with Delos and Guidewire to deliver success on this initiative.”

“We admire Delos for their eagerness in solving for one of the most rapidly changing risk areas in the industry,” said Guidewire General Manager of Claims & InsuranceNow Zachary Gustafson. “We are honored that Delos has selected InsuranceNow as their core technology platform as they seek to make catastrophic wildfire risk better understood and more insurable.”

About Delos Insurance Solutions

Delos Insurance Solutions uses cutting-edge technology to offer insurance protection to homeowners in communities abandoned by other insurers because of wildfire risk. Founded in San Francisco in 2017 by aerospace engineers, Delos uses satellite imagery and artificial intelligence to identify insurable homes within territories deemed too risky by the rest of the insurance market. Delos is a Managing General Agent (MGA) offering policies on behalf of insurers rated “A-” (Excellent) or higher by AM Best. For more information, visit https://www.getdelos.com/.

About Exavalu

Exavalu is a Specialized Digital Transformation Advisor & Digital Solutions Partner for the Insurance Industry. Founded by former Industry CIOs and Consulting Executives with background in complex transformation and change Initiatives within the Insurance Industry, Exavalu brings the best in Strategic Advisory and Digital Solutions delivery on Industry leading technology platforms. For more information, please visit https://www.exavalu.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 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/20221017005139/en/

Diana Stott

Director, Communications

Guidewire Software, Inc.

+1.650.356.4941

dstott@guidewire.com

Delos Insurance Solutions

contact@getdelos.com

Source: Guidewire Software

FAQ

What is the significance of Guidewire's InsuranceNow platform for Delos?

Delos selected InsuranceNow to enhance digital engagement and improve efficiency in their homeowners insurance operations.

How is Delos Insurance Solutions addressing wildfire insurance challenges?

Delos leverages technology to create wildfire models, aiming to insure homes misclassified as high-risk due to wildfire threats.

What market opportunity is Delos targeting with its new technology?

Delos focuses on providing insurance in wildfire-affected areas that many insurers have abandoned.

When did Delos Insurance Solutions announce its partnership with Guidewire?

The partnership was announced in a press release dated October 17, 2022.

What is the stock symbol for Guidewire Software?

The stock symbol for Guidewire Software is GWRE.