Artemis ILS NYC 2020


Reinsurance News

Beazley to leverage Guidewire’s Cyence analytics solution

11th September 2019 - Author: Charlie Wood

Specialist insurer Beazley has selected Guidewire Software’s Cyence product to help improve underwriting, capital and pricing efficiencies.

Beazley logoCyence offers a data listening and risk analytics solution that combines curation of external data with machine learning and risk modelling.

Beazley will implement Cyence data models to augment its existing data modelling applications for its cyber insurance line of business, with plans to expand to other lines of business in the future.

“We are pleased that Beazley has expanded its Guidewire relationship with the selection of Cyence, and applaud the company’s global mission of providing its clients with the highest standards of underwriting and claims service,” said Mike Rosenbaum, Chief Executive Officer, Guidewire Software.

“Guidewire is committed to bringing smart insurance solutions to the market. We look forward to working with Beazley to infuse data analytics to help achieve its strategic goals around enterprise risk management and overall business growth.”

Adam Rich, Head of Underwriting Technology at Beazley, added that, ”After conducting a review of data analytics services available in the market, we found that Cyence’s data science capabilities and engineering expertise offered us the best solution to address the challenges of today’s data-driven world.”

“We have been a longtime Guidewire ClaimCenter customer and Cyence’s smart data collection will enhance our ability to capture and analyze claims data to deliver insight that can help design new products and go-to-market strategies.”

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous article:
BMS adds Neil Prior as Director of Global Risks division

Independent specialist re/insurance brokerage BMS Group has announced the appointment of Neil Prior as Director in its Global Risks division....