Guidewire Partners with EvolutionIQ to Transform Workers Compensation Claims Processes

Rhea-AI Summary

EvolutionIQ joins Guidewire PartnerConnect as a new Solution partner, and Guidewire makes a strategic investment in EvolutionIQ. The partnership aims to help insurers transform their claims processes using EvolutionIQ's AI-powered Claims Guidance, reducing claim losses and expenses.

Positive

• EvolutionIQ has joined Guidewire PartnerConnect as a new Solution partner
• Guidewire has made a strategic investment in EvolutionIQ
• The partnership combines market-leading technologies to help insurers transform their claims processes
• EvolutionIQ's Claims Guidance actively monitors open insurance claims to guide frontline operators
• Claims handlers can provide more accurate decisions, deliver enhanced claimant experience, and manage claim durations cost effectively

Negative

• None.

SAN MATEO, Calif. & NEW YORK--(BUSINESS WIRE)-- Guidewire (NYSE: GWRE) and EvolutionIQ announced that EvolutionIQ has joined Guidewire PartnerConnect as a new Solution partner. The Built by Guidewire integration will allow Guidewire users to harness EvolutionIQ’s Claims Guidance within ClaimCenter, providing a unified workflow for users and streamlining data transmission between systems. Guidewire has also made a strategic investment in EvolutionIQ, renewing its mission to support companies across the insurance ecosystem that offer innovative solutions to its customer base.

The strategic partnership combines market-leading technologies to help insurers transform their claims processes, helping sick and injured claimants recover and return to work faster while reducing claim losses and expenses. EvolutionIQ’s artificial intelligence (AI)-powered Claims Guidance actively monitors open insurance claims to guide frontline operators to claims that require more attention, new actions, or complex decision-making. With this guidance, claims handlers can provide more accurate decisions, deliver enhanced claimant experience, and manage claim durations cost effectively.

“EvolutionIQ is delighted to partner with Guidewire and make it easier for our shared customers to leverage AI in the claims handling process,” said Tom Vykruta, co-Founder & CTO, EvolutionIQ. “This partnership represents an endorsement of Claims Guidance by a leading global insurance leader, with the scale and reputation to influence industry technology standards and trends now and in the future,” Vykruta further observed.

“We are excited to welcome EvolutionIQ as a new Solution partner and combine the power of Guidewire Cloud with the insight and efficiency of EvolutionIQ’s Claims Guidance,” said Roger Arnemann, General Manager & Senior Vice President, Analytics, Guidewire. “Just as we’re constantly evolving our own platform to anticipate customer needs, we seek partnerships that will help our customers transform their operations. Making EvolutionIQ part of the Guidewire ecosystem is part of that ongoing commitment.”

About EvolutionIQ

EvolutionIQ pioneered Claims Guidance in 2019. Its explainable AI guides insurance claims professionals to their highest potential impact claims, improving the claimant experience and delivering better claim outcomes to claimants, carriers and their customers. EvolutionIQ serves the group disability, individual disability and workers’ compensation markets worldwide. EvolutionIQ’s AI native products have been adopted by 70% of the top 15 U.S. disability carriers and a growing list of workers’ compensation carriers. The New York-based company employs 120 staff across the United States, Europe and Australia. For more information, visit www.evolutioniq.com and follow the company on LinkedIn.

About Guidewire PartnerConnect ecosystem and Built by Guidewire

Guidewire’s solution ecosystem is the largest in the P&C industry, with over 185 solution partners providing over 215 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. Built by Guidewire apps are standardized integration solutions, pre-built and managed by Guidewire that speed the delivery and maintenance of common integrations. These integrations are kept current with the latest product and vendor releases and leverage Guidewire’s Integration Framework and latest third-party technologies, fully aligned with Guidewire Cloud Standards. Where available, under an optional services agreement, Guidewire can provision, configure, parameterize, maintain, and perform annual upgrades of the integrations for customers.

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

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 540 insurers in 40 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 more than 1,600 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 X (formerly known as 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/20231026440323/en/

Melissa Cobb

Senior Public Relations Manager

Guidewire Software, Inc.

+1.650.464.1177

mcobb@guidewire.com

Jason Kapler

Vice President of Marketing

EvolutionIQ

917.740.5608

Press@evolutioniq.com

Source: Guidewire

FAQ

What is the partnership between Guidewire and EvolutionIQ?

The partnership aims to help insurers transform their claims processes using EvolutionIQ's AI-powered Claims Guidance.

What does EvolutionIQ's Claims Guidance do?

EvolutionIQ's Claims Guidance actively monitors open insurance claims to guide frontline operators.

What are the benefits of the partnership for insurers?

The partnership aims to reduce claim losses and expenses, provide more accurate decisions, enhance claimant experience, and manage claim durations cost effectively.