Harness Satellite-Powered Natural Catastrophe Data with ICEYE’s New Guidewire Cloud Integration

Rhea-AI Summary

Guidewire (NYSE: GWRE) has announced a new partnership with ICEYE, a leader in satellite-powered disaster management. ICEYE's NatCat Insights solution, integrated with Guidewire's ClaimCenter on Guidewire Cloud, is now available via the Guidewire Marketplace. This integration leverages ICEYE's synthetic aperture radar (SAR) satellite data and third-party sources to provide comprehensive monitoring of natural disasters. This allows insurers to optimize response plans, size losses, and deploy resources efficiently. The new ICEYE accelerator enhances the FNOL workflow, ensuring faster, more accurate claims processing, and improved customer satisfaction.

Positive

• Partnership with ICEYE provides cutting-edge disaster management data.
• Integration with ClaimCenter on Guidewire Cloud offers advanced monitoring capabilities.
• Rapid situational awareness enables optimized response plans and resource deployment.
• Enhanced FNOL workflow leads to faster, more accurate claims processing.
• Improved customer satisfaction due to reduced claim cycle times and proactive communication.

Negative

• None.

SAN MATEO, Calif. & HELSINKI--(BUSINESS WIRE)-- Guidewire (NYSE: GWRE) and ICEYE, a global leader in satellite-powered disaster management solutions, announced that ICEYE’s new Ready for Guidewire validated accelerator is now available to ClaimCenter on Guidewire Cloud users in the Guidewire Marketplace. ICEYE, a recent Insurtech Vanguards program graduate and the winner of Guidewire’s inaugural Insurtech Vanguards Pitch Day, is now a Guidewire PartnerConnect Solution partner.

ICEYE’s NatCat Insights solution, powered by its own synthetic aperture radar (SAR) satellite constellation and a mix of comprehensive third-party data, delivers persistent monitoring capabilities to detect and respond to climate-related changes quickly and accurately in any location on Earth. This rapid situational awareness of natural disasters enables insurers to optimize response plans, communicate proactively with policyholders, size losses effectively, identify priority regions, and allocate and deploy resources efficiently. ICEYE’s accelerator integrates ICEYE NatCat Insights with ClaimCenter on Guidewire Cloud.

With the ICEYE Accelerator for NatCat Insights, insurers can:

• Integrate ICEYE’s powerful data into the First Notice of Loss (FNOL) workflow and subsequent claims adjudication processes, empowering more informed decisions;
• Expedite FNOL intake by easily validating losses, improving the accuracy and efficiency of claims triage and routing; and
• Boost customer satisfaction with reduced claim cycle times, faster claims payments, and proactive communication with policyholders.

ICEYE owns and operates the world’s largest SAR satellite constellation, which collects images day and night in any weather conditions. This allows ICEYE to provide global coverage with up to sub-daily monitoring, enabling a fast, accurate response to changes taking place anywhere on the planet.

“ICEYE’s unique NatCat insight data, delivered in near-real time into Guidewire’s market-leading claim software, will transform the way insurers can respond and support their customers at a time of significant stress and challenge,” said Rupert Bidwell, Vice President, Insurance Solutions, ICEYE.

“Congratulations to ICEYE on the release of its new ClaimCenter integration,” said Will Murphy, Vice President, Global Technology Alliances, Guidewire. “ICEYE’s technology supports insurers across a broad spectrum of catastrophe event response and claim processes including rapid situational awareness, customer resilience and communication, third-party supplier management, FNOL, triage, fraud, and claims payments.”

About ICEYE

ICEYE delivers unparalleled persistent monitoring capabilities to detect and respond to changes in any location on Earth, faster and more accurately than ever before.

Owning the world's largest synthetic aperture radar (SAR) satellite constellation, ICEYE provides objective, near real-time insights, ensuring that customers have unmatched access to actionable data, day or night, even in challenging environmental conditions. As a trusted partner to governments and commercial industries, ICEYE delivers intelligence in sectors such as insurance, natural catastrophe response and recovery, security, maritime monitoring, and finance, enabling decision-making that contributes to community resilience and sustainable development.

ICEYE operates internationally with offices in Finland, Poland, Spain, the UK, and the US. It has more than 700 employees, inspired by the shared vision of improving life on Earth by becoming the global source of truth in Earth Observation.

For more information, please visit: www.iceye.com

About Guidewire PartnerConnect ecosystem and Ready for Guidewire

Guidewire’s solution ecosystem is the largest in the P&C industry, with over 210 solution partners providing over 260 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 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/20240620978367/en/

Melissa Cobb

Senior Public Relations Manager

Guidewire Software, Inc.

+1.650.464.1177

mcobb@guidewire.com

press@iceye.com

Source: Guidewire Software, Inc.

FAQ

What is the new integration announced by Guidewire (GWRE) and ICEYE?

Guidewire (NYSE: GWRE) and ICEYE have announced the integration of ICEYE's NatCat Insights solution with Guidewire's ClaimCenter on Guidewire Cloud, available in the Guidewire Marketplace.

How does ICEYE's NatCat Insights solution benefit insurers?

ICEYE's NatCat Insights provides rapid situational awareness, allowing insurers to optimize response plans, size losses, and efficiently deploy resources during natural disasters.

What is the main advantage of the ICEYE accelerator for Guidewire Cloud users?

The ICEYE accelerator integrates powerful satellite data, improving the accuracy and efficiency of the FNOL workflow and claims adjudication processes.

How does the new integration impact customer satisfaction for insurers using Guidewire's ClaimCenter?

The integration reduces claim cycle times and enables proactive communication with policyholders, leading to higher customer satisfaction.

What unique capabilities does ICEYE's SAR satellite constellation provide?

ICEYE's SAR satellite constellation offers global coverage with up to sub-daily monitoring, allowing for fast and accurate response to natural disasters in any weather conditions.