Reinsurance News
Guidewire Software
Guidewire acquires P&C insurtech HazardHub
20th August 2021
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, ... Read the full article
Beazley wraps up Guidewire London Market ECF Integration
1st July 2020
Specialist insurer Beazley has successfully finalised its claims transformation program, powered by Guidewire ClaimCenter. ClaimCenter is now fully integrated with the London Market Electronic Claims File Write-Back (ECF). Beazley has worked closely with Guidewire to add ECF Write-Back to Guidewire’s London Market claims functionality. This functionality affords Lloyd’s Syndicates and the London company ... Read the full article
Optio chooses Guidewire Cyence for cyber risk management
12th June 2020
Optio Group has chosen Guidewire's cyber risk management modelling solution Cyence to enhance its data warehouse capabilities and underwriting performance, and Guidewire Cyence for Small Business to support profitable small business growth. Cyence was acquired by Guidewire in 2017 and combines economic modelling, cybersecurity, machine learning and Internet scale data collection ... Read the full article
Guidewire updates cyber risk model Cyence
26th September 2019
Guidewire Software, a platform provider for property and casualty re/insurers, has updated its cyber risk management modelling solution Cyence. Cyence, acquired by Guidewire in 2017, combines economic modelling, cybersecurity, machine learning and Internet scale data collection to help risk takers assess the financial impact of cyber threats. This latest model update, the ... Read the full article
Beazley to leverage Guidewire’s Cyence analytics solution
11th September 2019
Specialist insurer Beazley has selected Guidewire Software’s Cyence product to help improve underwriting, capital and pricing efficiencies. Cyence 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 ... Read the full article
Donegal to expand adoption of Guidewire services
19th March 2019
Donegal Insurance Group has selected Guidewire Software’s Insurance Platform Core and Data products to replace legacy systems, in a move designed to modernise the way it does business. Donegal says it will implement the products for all of its lines of business, beginning with workers’ compensation, followed by its other commercial ... Read the full article
AXA XL renews and expands partnership with Guidewire Software
29th January 2019
AXA XL has partnered with Guidewire Software, Inc. in order to have global access to the Silicon Valley-based company's Guidewire Cyence Risk Analytics (Cyence) modelling solution for cyber exposures. Cyence is designed to help quantify the financial impact of cyber risk exposures, and AXA XL's Cyber Insurance unit has utilised the ... Read the full article
Seguros SURA Colombia implements Guidewire’s insurance solutions
6th November 2018
Seguros SURA Colombia, the largest insurer in Colombia, has revealed that it is in the process of rolling out Guidewire Software’s InsuranceSuite solutions across all of its lines of business. SURA said that it plans to use Guidewire’s InsuranceSuite, Client Data Management, Rating Management, and Reinsurance Management solutions for underwriting, policy ... Read the full article
Aon and Guidewire model silent cyber risks for U.S dam attack
25th October 2018
Re/insurance broker Aon and Guidewire Software, a platform provider for property and casualty (P&C) re/insurers, have collaborated on a scenario that models insured losses related to a hypothetical cyber attack on a U.S hydroelectric dam. The scenario analysed an attack in which a hacker opens the flood gates of a hydroelectric ... Read the full article
Zurich Insurance opts for Guidewire solution to help bolster cyber resilience
21st August 2018
Zurich Insurance Group has announced plans to leverage the Cyence cyber modelling solution to help prospect, underwrite, and price risks. Cyence was acquired by Guidewire, a leading software provider to the property and casualty (P&C) market, in 2017. It combines economic modelling, cybersecurity, machine learning and Internet scale data collection to ... Read the full article
Cyber insurers could lose up to 119% of policyholder surplus in single event: A.M. Best
20th August 2018
A new collaborative report by A.M. Best and Guidewire Software has estimated that three of the top 20 cyber insurers could generate significant gross losses to policyholder surplus of between 15% to 119% from a single cyber catastrophe event occurring in 2022. A.M. Best and Guidewire’s Cyence Risk Analytics team extrapolated ... Read the full article
Guidewire Software to acquire P&C insurance software provider Cyence
12th October 2017
Software provider to Property and Casualty (P&C) insurers, Guidewire Software, has entered into an agreement to acquire Cyence, a software provider that uses data science and risk analytics to expand P&C insurers' underwriting capabilities to include previously uninsured risks. Cyence offers a data listening and risk analytics solution that combines curation ... Read the full article
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