Guidewire Software Announces Next Version of Its Hosted Analytics App for Underwriters
Spotlight 2.0 helps insurers grow business profitably by improving underwriting precision
Guidewire Live Spotlight brings together relevant data from internal and external sources, applies company specified algorithms to generate peril-based alerts, and presents the evaluation results to the underwriter visually for detailed interaction. With Spotlight, underwriters can rapidly and accurately evaluate new submissions by loading data sources such as flood or crime risk and by enforcing consistent application of those data sources through insurer configured underwriting guidelines.
Spotlight 2.0 addresses location inaccuracies, inconsistencies in the underwriting process within the organization, and the need to make more transparent decisions by providing the following new capabilities:
- Virtually measure and validate a building footprint simply by outlining the perimeter of the building on a map;
- Capture an Underwriting Snapshot to create a historical record of the rationale behind an underwriting decision;
- Leverage Spotlight’s Risk Assessment Service API to allow any policy administration system to receive risk assessment results and updated located geocodes from Spotlight; and
- Purchase access to additional instant-on underwriting data sources, starting with crime risk*, to improve underwriting decision quality.
“Spotlight has been expressly built to aid Property/Casualty
underwriters to evaluate and select more profitable risks,” said
Guidewire Live Spotlight is currently available to insurers in the U.S.,
About Guidewire Live
Guidewire LiveSM is a cloud analytics platform that delivers instant-on apps that complement Guidewire InsuranceSuite™ core systems. These apps combine data from many different sources, including anonymized benchmarks and third party data, to enable analysis and visualization of that data in interesting new ways. Guidewire Live is available to any Guidewire customer.
Guidewire delivers the software that Property/Casualty (P/C) insurers need to adapt and succeed in a time of rapid industry change. We combine three elements – core processing, data and analytics, and digital engagement – into a technology platform that enhances insurers’ ability to engage and empower their customers and employees. More than 200 P/C insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.
*Crime risk data is an add-on purchase and is only available in
Guidewire Software, Inc.
Diana Stott, +1 650-356-4941