Verisk's Motor Vehicle Report Accelerator Receives Ready for Guidewire Designation
Guidewire customers can now easily order motor vehicle reports (MVRs) and quickly access driving history of policyholders during underwriting.
JERSEY CITY, N.J., January 23, 2019 - Verisk (Nasdaq:VRSK), a leading data analytics provider, and Guidewire Software, Inc. (NYSE:GWRE), provider of the industry platform property and casualty insurers rely upon, announced today that Verisk's motor vehicle report (MVR) accelerator has received the Ready for Guidewiredesignation. The integration enables mutual Verisk and Guidewire customers to easily order motor vehicle reports on current and potential policyholders and receive customized updates on adverse changes to their driving history.
With the accelerator, insurers can order MVRs from Verisk through Guidewire PolicyCenter(TM), with minimal investment of time and resources for implementation. Insurers will also have access to Verisk's wide array of cost containment tools with a flexible setup to facilitate the integration.
"An updated driving history is critical information in assessing and pricing auto insurance. It's one of the most valued pieces of data used in the underwriting process and can be a large part of an insurer's underwriting expenses," said Doug Caccese, president of personal lines at Verisk's ISO business. "With the new integration, insurers that use Guidewire can manage MVR costs while keeping track of changes in driving activity that could lead to premium adjustments at midterm or renewal."
The new accelerator is one of several solutions in the Guidewire Marketplace that provide streamlined accessibility to Verisk underwriting and claim products, including A-PLUS(TM) Auto and Property, ISO ClaimSearch®, and Coverage VerifierSM. These tools are part of Verisk's ongoing strategy to provide content through Guidewire InsurancePlatform(TM). Verisk and Guidewire customers can also stay current with the latest ISO commercial lines rules and advisory loss costs with automatic updates from ISO Electronic Rating Content(TM) (ERC(TM)).
For more information on Verisk's driving history solutions, visit verisk.com/insurance/products/motor-vehicle-reports.
About Verisk
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 2018, Forbes magazine named Verisk to its World's Best Employers list. For more information, please visit www.verisk.com.
About Guidewire PartnerConnect and Ready for Guidewire
Guidewire PartnerConnect(TM) is a global network of select partner companies that provide consulting services and solutions to enhance, extend, and complement the capabilities of Guidewire products. Ready for Guidewire integrations developed by PartnerConnect Solution members have been rigorously reviewed by Guidewire, adhere to Guidewire software design principles, and meet established criteria. The integrations are published in the Guidewire Marketplace and are available for download by Guidewire customers at no charge.
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.
Contact:
Eboni Thomas
Edelman (for Verisk)
212-642-7784
eboni.thomas@edelman.com
Diana Stott
Director, Communications
Guidewire Software, Inc.
650-356-4941
dstott@guidewire.com
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Source: Verisk Analytics Inc. via Globenewswire