Guidewire and Swiss Re forge alliance to enhance insurance efficiency

Fuelled by a shared commitment to innovation and excellence, this collaboration will facilitate seamless risk transfer and elevate customer service standards.

The partnership will equip Guidewire and Swiss Re clients with robust analytics products, integrations, and data transfer mechanisms. This encompasses integrating Swiss Re’s proprietary data models and risk insights into Guidewire’s cloud-based platform. Guidewire’s analytics manager will further streamline the process, enabling seamless integration of these insights into the core operations of the insurance industry.

As insurers navigate the intricacies of modern risk assessment and selection, deploying advanced analytics in claims and underwriting workflows is gaining traction. This trend is further accelerated by the industry’s increasing embrace of generative AI. The Guidewire and Swiss Re partnership will address this need by facilitating seamless data exchange and predictive model deployment, effectively minimising operational friction between insurance stakeholders.

Russell Higginbotham, chief executive officer of Swiss Re Reinsurance Solutions, expressed his delight at the partnership, acknowledging Guidewire’s global expertise in developing technology and analytics that underpin the contemporary P&C insurance landscape.

“By combining our data, models, and tools with the Guidewire platform, we can collectively strengthen the insurance industry’s ability to efficiently transfer risks and serve its clients more effectively,” he stated.

Aligning with this sentiment, Mike Rosenbaum, chief executive officer of Guidewire, underscored the critical role of data and analytics in enhancing efficiency and agility for insurers.

“We are particularly excited to collaborate with Swiss Re, a leading reinsurer and respected expert in risk transfer. By connecting our platforms and expertise, we can empower insurers to establish systems of insight that streamline risk transfer processes and minimise industry protection gaps,” he affirmed.