Technology’s Role in Insurers’ Future Business/Social Mission—Guidewire CEO

…wire, speaking at Connections 2017. Image source: Guidewire.) In his keynote remarks at Connections 2017 in Las Vegas this week, Guidewire Software’s (Foster City, Calif.) annual user group meeting and partner gathering, CEO Marcus Ryu placed his update on the company’s strategy within a context of the insurance industry’s broader business and social mission. “In 2001, at the start of Guidewire, my co-founder partners and I were attracted to the…

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…

Cyence’s ‘Data Listening’ Approach to Insurance Analytics

…nfrastructure that Cyence has built, and because cloud makes it affordable, we can do this now with scale together.” Big data and related analytics has become an industry preoccupation, even at CEO and boardroom level, noted Marcus Ryu, CEO, Guidewire, speaking at a meeting with journalists attending Connections 2017. Guidewire’s Data Science ‘Moonshot’ “Cyence is kind of a moonshot for the company and the whole industry,” Ryu commented. “What’s…

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 to Acquire Data Science Software Firm Cyence

…user journeys to improve the quality of the decisions made by insurers every day.” “Cyence is an exceptional technology company that, like Guidewire, focuses on serving the strategic needs of the P&C industry,” comments Marcus Ryu, CEO, Guidewire Software. “While Guidewire has focused on core operations, data management, and digital engagement, Cyence applies expertise in data science and machine learning to the modeling needs of insurance…

The Auto Club Transforms with Guidewire Core, Data and Digital Solutions

…ith ACG and Guidewire on this program.” “As a trusted organization with decades of invaluable service to their auto club members, ACG is ideally suited to lead as an insurer in a new era of digital customer engagement,” adds Marcus Ryu, CEO and co-founder, Guidewire Software. “We are honored by ACG’s selection of Guidewire’s Core, Data, and Digital products to provide the technology foundation for their business transformation, and we look…