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Guidewire Software (Foster City, Calif.) has announced that it has joined Plug and Play’s a Corporate Partner to participate in the startup ecosystem with a view to advancing insurance innovation and collaboration. Plug and Play is a Sunnyvale, Calif.-based accelerator, investor and hub of an innovation ecosystem supporting 12 industry verticals, including insurance.
Guidewire reports that it will engage with a select group of Plug and Play startups to provide executive mentoring, domain and technical expertise, and the potential opportunity to be showcased in Guidewire Marketplace as value add extensions to its InsurancePlatform.
“Insurers recognize the importance of innovation to their survival in today’s era of engagement. They strive to improve the experiences of their agents, employees, and most importantly their customers, and are embracing the importance of innovation now more than ever,” comments Lerk-Ling Chang, VP, Strategic Ventures and Innovation, Guidewire. “We are excited to extend our strong history of innovation—with our insurer customers, solution providers, and other start-ups—to our collaboration with Plug and Play, its startups, and its member companies, as we collectively work to provide the solutions the industry needs.”
“We have had the pleasure of hosting Guidewire customers at Plug and Play in Silicon Valley for a few years. Guidewire’s major R&D presence in Silicon Valley, and history of fostering innovation, make them an ideal addition to our ecosystem and we welcome them,” comments Ali Safavi, Global Head of Plug and Play InsurTech. “We respect their global expertise and industry leading position, and are excited about collaborating with them for the benefit of the P&C insurance industry.”
“Guidewire is committed to providing an industry marketplace and we see our role as that of curator, bringing tech providers together to provide the best solution options for P&C insurers,” comments Ali Kheirolomoom, chief product officer, Guidewire. “Our work with the Plug and Play team, its startups, and its member companies, will enable insurers to remain focused on their businesses while we take on more of the heavy lifting in bringing innovative ideas to reality. We are pleased to be building on our more than 15 years of P&C industry innovation as a supporting part of the Plug and Play ecosystem and are excited to share the results of our efforts with our customers and the industry.”