Software specialist Guidewire has announced the acquisition of HazardHub, a provider of API-driven property risk insights to the P&C insurance industry.
HazardHub curates, analyses and distills enough data to offer a comprehensive, national catalog of risks while its API provides risk scores and supports the underlying information for any US property.
“Underwriters, agents, and claims adjusters will power smarter decisions with risk insights embedded directly into core workflows,” said Mike Rosenbaum, CEO, Guidewire Software.
“Embedding HazardHub’s comprehensive property risk data service into Guidewire’s industry-leading platform will drive tremendous value for our customers and the P&C insurance industry.”
“We are excited about what HazardHub has built and even more by their passion, bold vision, and the host of challenges that we can tackle in combining their data and expertise with our market-leading platform,” said Roger Arnemann, general manager, Analytics, Guidewire Software.
“Their deep GIS expertise is a perfect complement to our existing team of over 170 Guidewire Analytics specialists in data science, actuarial modeling, data provisioning, and application development. P&C insurers who have relied upon Guidewire Analytics’ robust casualty data and insights will now also have access to rich property data and scores from a single trusted partner.”
“We see joining Guidewire as the best way to get our hazard data and risk scores into more insurer workflows to positively impact more insurers and policyholders,” said Bob Frady, co-founder and CEO, HazardHub.
“We are eager to expand the power of our API-driven insights and bring innovative solutions to market as part of Guidewire, the technology leader serving the P&C insurance industry.”