Guidewire Announces Ravin AI as New Solution Alliance Partner to Accelerate Auto Claims Processing

Rhea-AI Summary

Guidewire (NYSE: GWRE) announces a partnership with Ravin AI, which joins the Guidewire PartnerConnect as a Solution partner. Ravin's automated vehicle inspection technology leverages computer vision and deep learning to enhance the vehicle inspection process, allowing insurance customers to accurately capture vehicle conditions. The integration with Guidewire's ClaimCenter is set to expedite claims processing. Ravin AI has raised $30M and offers solutions without requiring dedicated hardware, making them accessible for diverse customers.

Positive

• Partnership with Ravin AI enhances Guidewire's service offerings.
• Ravin's technology improves accuracy and speed in vehicle inspections.
• The integration with ClaimCenter could streamline claims processing.

Negative

• None.

SAN MATEO, Calif. & AUSTIN, Texas--(BUSINESS WIRE)-- Guidewire (NYSE: GWRE) and Ravin AI announced that Ravin has joined Guidewire PartnerConnect as a Solution partner.

Ravin’s automated vehicle inspection tool enables non-professionals, like insurance customers, to capture the condition of a vehicle accurately. It leverages advanced computer vision and deep learning to analyze car damage and generate a 360-degree condition report or repair estimate. When completed, Ravin’s Ready for Guidewire integration will enable Guidewire users to access its vehicle inspection tool from within ClaimCenter, expediting and enhancing the vehicle inspection process.

“Our technology was built from 360-degree vehicle scans from over half a billion organic images and includes our unique capture AI,” said Eliron Ekstein, co-founder and chief executive officer, Ravin AI. “We built these tools to not only analyze images uploaded manually, but also to automatically capture the correct images for the user, which make it easier for customers and more accurate for their insurers. We are thrilled to be connecting our technology with Guidewire’s, making it simple for our shared customers to settle their auto claims faster.”

“We are delighted to welcome Ravin to the PartnerConnect ecosystem as our newest Solution partner,” said Becky Mattick, vice president, Global Solution Alliances, Guidewire. “We look forward to seeing Ravin’s technology, derived from deep automotive knowledge, help our shared customers reduce fraud, save on costs, and accelerate cycle times.”

About Ravin AI

Ravin AI is an international provider of automated artificial intelligence solutions for vehicle inspections serving diverse fleet, insurance, and remarketing customers around the world. Unlike other marketplace solutions, Ravin does not require its customers to purchase or install dedicated hardware but rather uses mobile and CCTV cameras. Ravin AI was founded in 2018 by Eliron Ekstein and Roman Sandler and has raised $30M to date from investors including KAR Global (owner of ADESA auctions, AutoVIN inspection and more), PICO Venture Partners, FM Capital, and Shell Ventures. Strategic partners include Toyota Financial. For more information, visit ravin.ai.

About Guidewire PartnerConnect ecosystem and Ready for Guidewire

Guidewire’s solution ecosystem is the largest in the P&C industry, with over 150 solution partners providing over 170 integrations in the Guidewire Marketplace. Guidewire PartnerConnect Solution partners provide software, technology, and data solutions as well as insurance support services. Our Solution partners help drive business value and innovation for insurers by developing and delivering integrations, extensions, apps, and other complementary solutions for Guidewire products. All of our Ready for Guidewire partner solutions are validated for security, quality, and compatibility with Guidewire, and can be found on the Guidewire Marketplace.

For more information about Guidewire PartnerConnect, please visit http://www.guidewire.com/partners.

About Guidewire

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. ​We combine digital, core, analytics, and AI to deliver our platform as a cloud service. Approximately 520 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/20220915005186/en/

Melissa Cobb

Senior Public Relations Manager

Guidewire Software, Inc.

+1.650.464.1177

mcobb@guidewire.com

Avital Pessar

Director of Marketing

Ravin AI

052-743-5813

avital@ravin.ai

Source: Guidewire

FAQ

What is the significance of the partnership between Guidewire and Ravin AI?

The partnership enhances Guidewire's offerings in automated vehicle inspections, improving service for insurers.

How does Ravin AI's technology work with Guidewire?

Ravin AI's vehicle inspection tool uses computer vision and deep learning, integrated with Guidewire's ClaimCenter.

What financial backing does Ravin AI have?

Ravin AI has raised $30 million from various investors, including KAR Global and Shell Ventures.

What benefits does the integration with Guidewire provide for insurers?

The integration aims to reduce fraud, lower costs, and accelerate claims processing times.

When did Ravin AI join Guidewire PartnerConnect?

Ravin AI joined Guidewire PartnerConnect as a Solution partner as announced in the recent press release.