Guidewire Predict Named “Predictive Analytics Solution of the Year” in 2023 Data Breakthrough Awards

Rhea-AI Summary

Guidewire (NYSE: GWRE) has been awarded the title of “Predictive Analytics Solution of the Year” for its product, Predict, during the 2023 Data Breakthrough Awards. This recognition highlights Predict's capability in the analytics sector, aimed at enhancing business outcomes for insurers. Over 2,000 nominations were received in this competitive awards program, showcasing leading innovations in data technology.

According to Roger Arnemann, SVP and GM of Guidewire Analytics, Predict enables customers to optimize processes and reduce expenses while mitigating risks. The machine learning application provides real-time predictive insights, facilitating smarter decisions for underwriters and claims adjusters, significantly impacting the efficiency of insurance operations.

Positive

• Awarded 'Predictive Analytics Solution of the Year' for Predict.
• Enhances business outcomes for insurers by optimizing processes and reducing expenses.
• Facilitates real-time predictive insights for smarter decision-making.

Negative

• None.

SAN MATEO, Calif.--(BUSINESS WIRE)-- Guidewire (NYSE: GWRE) announced that Predict, its market-leading predictive analytics solution, has been named the “Predictive Analytics Solution of the Year” in the 2023 Data Breakthrough Awards program. The program is conducted by Data Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies, and products in the global data technology market today.

“We are thrilled that Data Breakthrough has recognized Predict as an innovative, standout solution,” said Roger Arnemann, Senior Vice President and General Manager, Guidewire Analytics. “Predict helps our customers optimize their business outcomes and processes, while lowering expenses and mitigating risk. It is a powerful application helping insurers, reinsurers, and MGAs make the world more insurable by turning systems of record into systems of insight.”

The annual Data Breakthrough Awards program is the premier awards program founded to recognize data technology innovators, leaders, and visionaries from around the world in a range of categories, including data analytics, big data, business intelligence, data storage and more. In its fourth year, the awards program attracted more than 2,000 nominations from across the globe.

“While it is not uncommon for insurers to have dedicated teams of data scientists and actuaries that may use a variety of modeling tools and techniques to improve risk selection, pricing, retention, and claims outcomes, the reality is that most insurers struggle with operationalizing the analytic insights and outcomes within day-to-day core processes to create business value,” said James Johnson, Managing Director, Data Breakthrough. “Guidewire Predict addresses this challenge head-on. We extend our sincere congratulations to Guidewire for taking home our ‘Predictive Analytics Solutions of the Year’ award in 2023!”

Predict is a P&C-specific machine learning application that delivers embedded predictions to underwriters and claims adjusters, enabling smarter decisions on risk selection, pricing, claims triage, and settlement. It accelerates speed-to-market, embeds real-time predictive insights with adaptive workflow, and facilitates better business outcomes with improved collaboration.

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/20230413005141/en/

Melissa Cobb

Senior Public Relations Manager

Guidewire Software, Inc.

+1.650.357.5324

mcobb@guidewire.com

Source: Guidewire

FAQ

What is Predict by Guidewire?

Predict is a predictive analytics solution designed for property and casualty insurers, helping improve decision-making in risk selection and claims management.

Why was Guidewire awarded the Predictive Analytics Solution of the Year?

Guidewire received this award for its innovative predictive analytics application, Predict, which optimizes business operations in the insurance sector.

Who conducts the Data Breakthrough Awards?

The Data Breakthrough Awards are conducted by an independent organization that recognizes innovation in the data technology market.

How does Predict help insurers?

Predict helps insurers by providing embedded predictions that enhance risk selection, pricing, and claims processes, driving better overall business outcomes.

What impact does the award have on GWRE's stock?

While the award reflects positively on GWRE's innovation, the immediate financial impact on stock performance is uncertain and would require broader market analysis.