5 Trends Are Reshaping the Insurance Industry—Guidewire CEO

…ust Be Where the Customers Are) “These players start with the premise that they are the logical owner of the customer relationship because of their brand strength or because they are present at the point of search and sale,” Ryu said. Ryu also cited greenfield carrier entrants such as Metromile, who seek to redefine auto insurance as a metered service. “A similar principle is taken a step further by a UK start-up called Cuvva,” he said. “They…

Guidewire Aspires to Supply ‘Industry-Standard’ Full Insurance Platform-CEO

(Marcus Ryu, CEO, Guidewire, delivering his keynote address at Connections 2016 in San Francisco.) During his keynote at Guidewire’s 12th annual Connections user conference, CEO Marcus Ryu declared the company’s aspiration to create an “industry standard platform” for the property/casualty industry, during an address that explored the challenges and opportunities faced by the vendor’s customers. Ryu’s remarks were timed to the latest release of…

Q&A: Marcus Ryu on Technology Trends, Core Systems and Guidewire’s Plans

…idewire’s own roadmap. Insurance Innovation Reporter : What are some of the biggest trends you’re paying attention to in the insurance technology realm today, and what is their relevance to the core insurance systems market? Marcus Ryu, CEO, Guidewire: It’s a very exciting time. It’s absolutely a time of change, which is a big theme in our positioning. There is an unprecedented $3b going into InsurTech, a term that didn’t exist until recently….

Guidewire CEO Talks Insurance Disruption and the Evolving Role of Core Systems

…Innovation Reporter: The industry commentators I talk to agree that there’s never been a more exciting time to observe the industry. However, pain comes with disruption too. What challenges to insurance carriers face today? Marcus Ryu, CEO, Guidewire: These are momentous times. The headline message at Guidewire’s Connections conference was that more of consequence has happened in the last two years than the last two decades. Some challenges are…

Guidewire Rounds-Out Data and Analytics Capabilities with EagleEye Analytics Acquisition

…e.” Neil Betteridge, VP, Strategy, Guidewire Software. The newly renamed Guidewire Predictive Analytics, will focus on claims, underwriting, and pricing, “because that’s where the money is,” Light notes. Guidewire CEO Marcus Ryu comments that the EagleEye team’s expertise in P&C processes and data science will advance Guidewire’s mission of enabling insurers to adapt and succeed in a time of significant change. “Their products, as with the…

Guidewire Announces Acquisition of ISCS

…ld for Guidewire acquisitions. Until now the company has acquired pieces that fit into a part of its total portfolio. This is a parallel full suite to Guidewire’s InsuranceCenter.” In a Guidewire statement, the company’s CEO Marcus Ryu said that ISCS’s “technology and expertise will enable us to provide a new option to our customers and augment our progress in delivering cloud-based products.” Guidewire’s InsuranceSuite 9 has been cloud-ready…

Guidewire Announces Acquisition of FirstBest Systems

…the Guidewire statement asserts. Karlyn Carnahan, Research Director, Celent. “Like Guidewire, FirstBest has been committed from its founding to advancing the strategic goals of P/C insurers through modern software,” comments Marcus Ryu, CEO, Guidewire Software. “Their expertise in complex risk analysis, and the informational and workflow needs of commercial underwriters will deepen our ability to serve this vital constituency within the…

Nationwide Selects Full Set of Guidewire’s Portals for Digital Strategy

…hat they can accelerate our digital strategy while allowing us to retain the ability to create unique market-leading digital experiences for our members,” comments Jeff Cain, AVP, Personal Lines & Direct CTO, Nationwide Insurance. “We are proud to partner with Nationwide Insurance on their transformation journey and applaud their commitment to innovative customer engagement,” comments Marcus Ryu, CEO and co-founder, Guidewire Software. CIO…

ROC-Connect Debuts Smart-Home-as-a-Service Insurance IoT Solutions Platform

…been optimized to support the deployment of simple, low-cost, and scalable product/service bundles that pave the way to reduce the probability of damage and lowered overall risks for home owners and their insurers,” comments Marcus Scheiber, CEO, ROC-Connect. “In addition to intrusion detection, the platform gives homeowners real solutions for a wide range of potential threats, including fire, carbon monoxide and costly water damage caused by…

Ag Workers Turns to Marias Technology for Diamond PAS Support

…System. Maria resources will also be used to supplement Ag Workers’ staff for system management as needed. The insurer will also use Marias resources and testing capabilities to test new releases of the Diamond system and provide general direction and oversight with regard to the Diamond System implementation. “I have known Marias since its inception and its parent company for a generation,” said Marcus Hill, President of Ag Workers. “I know of…