Optimize Claims Processing with expert.ai’s New Guidewire Marketplace App

Rhea-AI Summary

Guidewire (NYSE: GWRE) has partnered with expert.ai to introduce the Ready for Guidewire validated accelerator for ClaimCenter, enhancing claims management through AI solutions. This accelerator utilizes natural language processing to automate claims data analysis, improving decision-making efficiency. Features include extracting relevant data, reducing claims leakage, and accelerating resolution times. According to Colin Matthews, Chief Revenue Officer of expert.ai, this technology enhances operational efficiency for insurers, while Zachary Gustafson from Guidewire emphasizes faster decision-making improves customer experience.

Positive

• Introduction of the Ready for Guidewire validated accelerator for ClaimCenter enhances claims management.
• Accelerator utilizes AI for better data analysis and improved decision-making efficiency.
• Reduces claims leakage by minimizing subjectivity.
• Speeds up claims resolution, contributing to enhanced customer experience.

Negative

• None.

SAN MATEO, Calif. & BOSTON--(BUSINESS WIRE)-- Guidewire (NYSE: GWRE) and expert.ai, a provider of artificial intelligence (AI) solutions in language understanding, today announced that expert.ai’s new Ready for Guidewire validated accelerator for ClaimCenter is now available in the Guidewire Marketplace.

AI already enables insurers to automate aspects of claims management, including fraud detection. According to McKinsey & Company, AI is also on course to automate routine claims processing and decision-making, enabling adjusters to focus on more complex and contested claims. Expert.ai’s app for Guidewire ClaimCenter applies human-like language understanding to analyze claims data, forms, and related documents – including reports, appraisals, medical records, invoices, and loss findings. The app reads, evaluates, and understands documents, and turns language into actionable data.

By combining machine learning (ML) and knowledge-based AI, expert.ai’s hybrid natural language technology quickly derives context and meaning from data and augments every step of the claim validation process, reducing insurance document review times and expediting decision-making.

Within ClaimCenter, expert.ai enables insurers to:

• Turn language into data and extract relevant data points;
• Identify and reduce claims leakage by removing subjectivity; and
• Accelerate decision making and claims resolution.

Expert.ai provides intelligent automation across workers’ compensation, general liability, property and other insurance lines of business.

“Operational efficiency is a strategic imperative for insurers,” said Colin Matthews, Chief Revenue Officer, expert.ai. “At every step of the claims validation process, expert.ai enhances workflows while ensuring high-quality language understanding with advanced data analytics. This streamlines the process, improves accuracy and efficiency to offer a better customer experience.”

“We welcome expert.ai as our latest Guidewire PartnerConnect Solution partner and congratulate the company on the release of its AI-based accelerator,” said Zachary Gustafson, General Manager, Claims & InsuranceNow, Guidewire. “Claims management requires processing and analysis of large amounts of information, and by leveraging the power of AI insurers can deliver decisions faster, which helps improve the customer experience.”

About expert.ai

Expert.ai (EXAI:IM) is a leading company in AI-based natural language software. Organizations in insurance, banking and finance, publishing, media and defense all rely on expert.ai to turn language into data, analyze and understand complex documents, accelerate intelligent process automation and improve decision making. Expert.ai's purpose-built natural language platform pairs simple and powerful tools with a proven hybrid AI approach that combines symbolic and machine learning to solve real-world problems and enhance business operations at speed and scale. With offices in Europe and North America, expert.ai serves global businesses such as AXA XL, Zurich Insurance Group, Generali, The Associated Press, Bloomberg INDG, BNP Paribas, Rabobank, Gannett and EBSCO. For more information, visit https://www.expert.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/20220928005119/en/

Melissa Cobb

Senior Public Relations Manager

Guidewire Software, Inc.

+1.650.464.1177

mcobb@guidewire.com

Francesca Spaggiari

Head of Communications and Public Relations

Expert.ai

+39 059 894011

press@expert.ai

Source: Guidewire

FAQ

What is the new product launched by Guidewire and expert.ai?

Guidewire and expert.ai have launched the Ready for Guidewire validated accelerator for ClaimCenter.

How does the expert.ai accelerator work with Guidewire?

The expert.ai accelerator uses natural language processing to automate claims data analysis in Guidewire's ClaimCenter.

What benefits does the new accelerator provide to insurers?

The accelerator helps insurers extract relevant data, reduce claims leakage, and accelerate decision-making.

What is the significance of AI in claims management for Guidewire?

AI improves operational efficiency, speeds up claims processing, and enhances customer experience in claims management.