Reduce and Manage Risk with new Guidewire Marketplace App from Risk Control Technologies

Rhea-AI Summary

Guidewire (NYSE: GWRE) and Risk Control Technologies (RCT) have launched the Ready for Guidewire validated accelerator for PolicyCenter. This tool aims to enhance loss control practices in the insurance industry, focusing on maximizing claims reduction and improving customer retention. RCT's platform offers workflow automation and advanced analytics, synchronizing data with Guidewire to optimize risk management. The partnership allows insurers to streamline operations and mitigate risks, enhancing overall decision-making in loss control.

Positive

• Introducing the validated RCT accelerator for PolicyCenter is expected to improve operational efficiency for insurers.
• The partnership enhances data synchronization and workflow automation, potentially leading to increased customer retention and satisfaction.

Negative

• None.

TORONTO & SAN MATEO, Calif.--(BUSINESS WIRE)-- Guidewire (NYSE: GWRE) and Risk Control Technologies (RCT) announced that RCT’s new Ready for Guidewire validated accelerator for PolicyCenter is now available to users in the Guidewire Marketplace.

RCT provides an end-to-end loss control platform to help insurers maximize claims reduction, increase customer retention, and harness data insights for better decision making. RCT creates workflow automation throughout the loss control process and enables new methods of loss control touchpoints, allowing insurers to maximize the number of insureds serviced.

Built on a “Predict & Prevent” strategy, RCT enables targeted account selection and determines the optimal way to service each account based on its risk profile. Insurers can utilize RCT’s advanced risk scoring, analytics, and business intelligence suite to improve understanding of risks and enhance decision making.

With RCT’s PolicyCenter app, insurers can:

• Synchronize information from Guidewire PolicyCenter to RCT as changes happen, ensuring their loss control team always has the most up-to-date policy/claim information;
• Leverage RCT’s advanced business rules and automation engines to analyze the synchronized policies, automatically initiate surveys, and service activities based on the risk profile; and
• Reduce IT effort and cost associated with a custom API integration project.

“Loss control is everyone’s business,” said David Da Costa, chief executive officer, RCT. “This partnership between Guidewire and RCT allows critical loss prevention practices to be shared throughout the organization to enhance customer relationships, streamline operations, and mitigate risk.”

“We congratulate RCT on the publication of its loss prevention app for PolicyCenter,” said Becky Mattick, vice president, Global Solution Alliances, Guidewire Software. “This app enables automatic synchronization of customer portfolios between RCT and Guidewire, helping to create a consistent experience between underwriting, claims, and loss control for our shared customers.”

About Risk Control Technologies, Inc.

Risk Control Technologies Inc. (RCT) is the leading provider of Loss Control and Safety software platforms to the insurance industry. RCT’s platforms help over 125 insurance organizations to service more customers, maximize risk reduction, streamline operations, improve customer experience, and harness powerful data insights to enable better business decisions. RCT’s customers include a wide range of insurance organization types, operating across a broad variety of lines of business. For more information visit www.riskcontroltech.com or contact us at sales@riskcontroltech.com.

About Guidewire PartnerConnect ecosystem and Ready for Guidewire

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 AI to deliver our platform as a cloud service. More than 450 insurers, 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:
@Guidewire_PandC.

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/20220111005526/en/

Melissa Cobb

Senior Public Relations Manager

Guidewire Software, Inc.

+1.650.464.1177

mcobb@guidewire.com

Warren Woermke

Marketing Manager

Risk Control Technologies, Inc.

(212) 603-9487 Ext. 333

wwoermke@riskcontroltech.com

Source: Guidewire

FAQ

What is the new software launched by Guidewire and RCT?

Guidewire and RCT launched the 'Ready for Guidewire' validated accelerator for PolicyCenter to improve loss control practices.

How does the RCT platform benefit insurers using Guidewire?

The RCT platform helps insurers maximize claims reduction, improve customer retention, and streamline operations through advanced analytics and workflow automation.

What does the partnership between Guidewire and RCT aim to achieve?

The partnership aims to optimize loss control practices and enhance decision-making for insurers by synchronizing data and streamlining operations.

What features does RCT's PolicyCenter app offer?

RCT's PolicyCenter app synchronizes data from Guidewire, automates surveys based on risk profiles, and reduces IT effort for integration.