More than 30 Guidewire customers have chosen to receive their ISO
updates digitally for a fast, efficient, and cost-effective way to bring
up-to-date commercial products to market
JERSEY CITY, N.J. & FOSTER CITY, Calif.--(BUSINESS WIRE)--Sep. 21, 2018--
Verisk (Nasdaq:VRSK), a leading data analytics provider, and Guidewire
Software, Inc. (NYSE:GWRE), provider of the industry platform that
property and casualty (P&C) insurers rely upon, today announced the
increased adoption of Guidewire Product Content Management™ based on
Verisk’s ISO Electronic Rating Content™ (ERC™) in the insurance market.
Managing ISO rating content with Product Content Management makes it
easier for insurers to stay current with the latest commercial lines
rules and advisory loss costs because the rating content is received
electronically and updated automatically.
More than 30 Guidewire PolicyCenter™ customers have elected to use
Product Content Management based on ISO ERC™ to update their rating
content for commercial lines. Guidewire is currently offering access to
ISO programs via ISO ERC for businessowners, commercial auto, commercial
property, crime, general liability, and workers’ compensation.
“Guidewire’s investment in Product Content Management and its continuing
collaboration with Verisk offer opportunities for insurers to
efficiently manage and stay current with ongoing ISO changes,” said
Karen Furtado, partner, Strategy Meets Action. “ISO ERC plays a critical
role in the industry’s continuing migration to a digital platform by
providing the electronic method needed to help get products and rate
changes to market more quickly and cost-effectively.”
“ISO ERC continues helping insurers lower costs, realize efficiencies,
and reduce risk in today’s rapidly changing world of digitization and
risk management,” said Maroun Mourad, president of ISO Commercial Lines.
“We view our long-standing strategic business alliance with Guidewire as
an important differentiator, and we’re excited to be working with them
as they continue to see strong adoption of our content digitally across
their P&C insurance industry platform.”
“Insurers are digitizing their operations to bring commercial lines
products to market faster than ever before,” said Brian Vannoni,
principal business owner, Core, Guidewire Software. “We’re honored by
the trust that our customers have placed in us to support this
innovation through fast and efficient delivery of ISO content. The
combination of Guidewire and Verisk joining forces to simplify this
process has greatly eased the update challenge for our mutual customers.”
Verisk and its ISO business are members of the Guidewire
PartnerConnect™ Solution program, a network of select companies that
provide complementary software, technology, data, and insurance support
solutions to enhance and extend the capabilities of Guidewire products.
Guidewire is also a member of Verisk Strategic Alliances and licenses a
wide variety of ISO data, information, and related products.
Learn more about ISO ERC at https://www.verisk.com/insurance/products/electronic-rating-content-suite/
and about Guidewire PolicyCenter at https://www.guidewire.com/products/policycenter.
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving
customers in insurance, energy and specialized markets, and financial
services. Using advanced technologies to collect and analyze billions of
records, Verisk draws on unique data assets and deep domain expertise to
provide first-to-market innovations that are integrated into customer
workflows. Verisk offers predictive analytics and decision support
solutions to customers in rating, underwriting, claims, catastrophe and
weather risk, global risk analytics, natural resources intelligence,
economic forecasting, and many other fields. Around the world, Verisk
helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and
is a member of Standard & Poor’s S&P 500® Index. In
2017, Forbes magazine named Verisk to its America’s Best Mid-Size
Employers list and to its World’s Most Innovative Companies list. Verisk
is one of only seven companies to appear on both lists. For more
information, please visit www.verisk.com.
About Guidewire Software
Guidewire delivers the industry platform that property and casualty
(P&C) insurers rely upon to adapt and succeed in a time of accelerating
change. We provide the software, services, and partner ecosystem to
enable our customers to run, differentiate, and grow their business. We
are privileged to serve more than 350 companies in 32 countries. 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/20180921005065/en/
Source: Guidewire Software, Inc.
Guidewire Software, Inc.
Diana Stott, +1-650-356-4941
Erin Bzymek, 201-507-9500