SAN MATEO, Calif.--BUSINESS WIRE--
Guidewire (NYSE: GWRE) announces Kufri release, its latest cloud update, which extends Guidewire HazardHub to 19 additional countries, enhances underwriting and billing processes, facilitates cloud migrations, and streamlines developer experiences.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240801815356/en/
HazardHub is the most comprehensive set of property risk data and peril risk scoring in the P&C insurance industry. Insurers use HazardHub data to underwrite quickly and more accurately, as well as to improve pricing.
"This is a challenging time for property insurers around the world. With increasing natural disasters, evolving regulatory requirements, and the growing complexity of risk management, insurers need robust tools to quickly make informed decisions," said Leo Tenenblat, Senior Vice President and General Manager, Guidewire. "We are pleased to expand HazardHub to insurers in Europe, Australia, New Zealand, and South Africa, providing them four risk peril scores (flood, wildfire, wind, and hail) and 65 new data elements for more granular property risk assessments."
"HazardHub helps Atrium assess and manage risks associated with homeowners and commercial properties in the United States," said Simon Lewis, Head of Digital Underwriting and ARMS President, Atrium Underwriters Ltd. "We look forward to seeing the expansion of HazardHub's risk data and peril scores because we trust the data and know it will help Atrium to make even more insightful underwriting decisions across the globe."
Kufri includes several additional capabilities, providing benefits for:
- Commercial lines underwriters - More agile submission intake and pricing processes, including the ability to easily adjust premiums for complex commercial lines.
- London Market insurers - BillingCenter now offers a streamlined solution for managing non-bureau business billing and accounting more efficiently.
- Policyholders - New Jutro templates accelerate delivery of engaging policyholder and agent digital experiences.
- Cyber risk insurers - Cyence Model 7 provides even more comprehensive views of trends and losses, including details on the latest threats, incidents, and claims data. Model 7 also classifies nation-state cyber attacks and system failure events.
- IT teams - A new billing migration tool ensures the smooth transition of on-premises billing data to Guidewire Cloud.
- Data architects - Guidewire Data Platform optimizes core data access, enabling business-driven data curation to drive faster insights and unlock innovation potential. Data management teams can also share data via integrations with other platforms.
- Insurers and policyholders - New data collection fields in Guidewire BillingCenter, ClaimCenter, and PolicyCenter support gender inclusivity.
- Developers - The new Guidewire Home interface provides a unified, personalized launch and navigation experience to streamline DevOps activities across the entire Guidewire Cloud portfolio.
"Kufri is another important milestone in delivering on our promise to help our customers engage, innovate, and grow efficiently," said Michael Howe, Chief Product Officer, Guidewire. "By providing advanced analytics tools and expanded platform capabilities, we enable smart decision-making, improve operational efficiency, and deliver the agility insurers need to respond swiftly to market changes."
For more detailed information, please visit www.guidewire.com/Kufri and read the Kufri overview blog.
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 540 insurers in 40 countries, from new ventures to the largest and most complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,600+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.
