TrueMotion Joins Guidewire PartnerConnect Solution Alliance Ecosystem; Introduces Claims Accelerator Powered by Smartphone Telematics Data

Rhea-AI Summary

Guidewire Software (NYSE: GWRE) has partnered with TrueMotion, a leading smartphone telematics platform, via the Guidewire PartnerConnect program. This collaboration introduces a claims accelerator that integrates telematics data into Guidewire ClaimCenter. The new system enhances efficiency by automatically providing adjusters with critical crash data, such as location and impact speed, improving the claims process. Enhanced customer satisfaction from a smoother claims experience can lead to higher retention rates, as indicated by a J.D. Power study, where satisfied clients are more likely to renew their policies.

Positive

• Partnership with TrueMotion enhances claims processing efficiency.
• Integration of telematics data improves claims handling speed and quality.
• Potential for increased customer retention and satisfaction, as shown by J.D. Power study.

Negative

• None.

Guidewire Software, Inc. (NYSE: GWRE), the platform P&C insurers trust to engage, innovate, and grow efficiently, today announced that TrueMotion, Inc., a leading platform for smartphone telematics, has joined Guidewire PartnerConnect as a Solution partner to offer a claims accelerator powered by smartphone telematics data. The companies also announced that TrueMotion’s new Ready for Guidewire validated accelerator is now available to insurers in the Guidewire Marketplace.

TrueMotion’s Ready for Guidewire telematics accelerator seamlessly connects TrueMotion’s platform to Guidewire ClaimCenter, enabling adjusters to access crash-scene telematics data directly within ClaimCenter. When a crash occurs, data like location, time, speed of impact, and weather is automatically available for adjusters to verify with the insured at First Notice of Loss (FNOL), streamlining the claims data collection process for all involved.

TrueMotion pinpoints the crash location and driving events before and after a crash for coverage investigation. Adjusters can review the crash location with a fully integrated Google Street and Map view with a collision indicator. With TrueMotion’s telematics data, adjusters can also see if the insured visited a hospital following the crash. This information helps adjusters ask policyholders the right questions and determine the correct injury team to contact if needed.

With TrueMotion’s telematics accelerator for ClaimCenter, adjusters can:

• Save time and administrative burden because telematics and crash data are automatically pre-filled with the click of a button;
• Quickly understand the details of a car crash through an automatically generated, fact-based description of what happened during the incident; and
• Verify claims information and handle claims faster and more efficiently to improve the claims experience overall for the insured.

According to a J.D. Power study, “satisfaction with the claims experience affects customer retention and referrals”, among satisfied claimants, over 80 percent said they “definitely will” renew their policy and recommend their insurer, contributing to as much as 30% higher profitability. Making the claims experience simple and positive for insureds can help considerably with customer retention and loyalty.

“We are proud to partner with Guidewire to offer a claims accelerator powered by smartphone telematics data,” said Cornelius Young, Vice President, Claims, TrueMotion. “We’re excited to offer our shared customers the ability to access telematics data directly in ClaimCenter, boosting their efficiency and simplifying their workflows. Adjusters will be able to eliminate redundant tasks, reduce manual entry, and focus on the customer’s needs to get them back on the road sooner.”

“We are delighted to welcome TrueMotion as our latest Guidewire PartnerConnect Solution partner and collaborate in helping our joint customers leverage telematics to transform the claims experience,” said Neil Betteridge, Vice President, Strategy, Guidewire Software. “TrueMotion’s integration can help improve the speed and quality of auto claims handling for both adjusters and policyholders.”

About TrueMotion, Inc.

TrueMotion provides the world’s leading smartphone driving data platform. Powered by machine learning, the platform determines when a person is driving, reveals their behaviors behind the wheel, and detects crashes. Insurers, automakers, app developers, telcos, and fleets use TrueMotion data to fuel their pricing, claims, safety, acquisition, and retention programs. Nine of the top 20 US insurers and leading insurers in Canada and Europe rely on TrueMotion technology. TrueMotion is based in Boston with offices in Budapest. For more information, please visit TrueMotion at gotruemotion.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. As of the end of our fiscal year 2019, more than 380 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/20210209005009/en/

FAQ

What is the latest partnership for GWRE announced?

Guidewire Software announced a partnership with TrueMotion to integrate telematics data into its ClaimCenter.

How does TrueMotion's telematics accelerator benefit GWRE's clients?

It automates data collection during claims, allowing adjusters to verify information quickly and efficiently.

What is the significance of the J.D. Power study mentioned by GWRE?

The study indicates that a positive claims experience significantly boosts customer retention and recommendations.

When was the partnership between Guidewire and TrueMotion announced?

The partnership was announced in a recent press release dated February 9, 2021.