The combination of operations automation, insights from AI, human expertise augmentation, and advanced ecosystems will result in winning scenarios for insurers, claims professionals, and claimants.
Luko, which predicts which claims may be filed and engages policyholders to adopt best practices to avoid them, also relies on technology to shorten the claims process.
Speaking at Connections 2020, Diego Devalle, Guidewire’s Chief Product Development Officer, said that Autopilot seeks to flip a highly manual claims model to make manual processes the exception.
In his virtual presentation, Mike Rosenbaum spoke of the momentum of Guidewire’s cloud journey and addressed how the company has fulfilled its commitment to deliver new releases biannually, first with Aspen in June and Banff in November.
Investors in this round, which brings Flyreel’s total capital raised to $18 million, include IA Capital Group, Guidewire Software, Gradient Ventures, State Auto Labs and Donan Engineering.
Developed within the Lloyd’s Lab innovation accelerator, the Hurricane Non-Damage parametric solution provides open-banking validation, real-time impact assessment and automated payouts while cutting claim process time up to 95 percent.
Led by Travelers, the round had participation from State Farm Ventures, Nationwide, Guidewire Software and other investors.
The implementation establishes a foundation for Hansard to transform and expand its international business model.
The new release fulfills the vendor’s commitment to new releases every six months as part of its cloud- and product-focused strategy.
One of the P&C industry’s most established core technology providers brings aboard a smaller vendor with a focus on cloud-native technology and personal lines.