Swiss Re Reinsurance Solutions (Swiss Re) has partnered with Guidewire, a US-based software company to offer a platform for property and casualty carriers.
The mandate aims to ‘help build a more interconnected insurance industry through the use of technology.’
The collaboration will provide Guidewire and Swiss Re customers with a suite of analytics products, integrations and data transfer mechanisms. It will start with the deployment of Swiss Re’s proprietary data models and risk insights into the Guidewire cloud platform.
Guidewire's analytics manager will also facilitate the integrations to embed relevant insights into core insurance operations.
Insurers are deploying advanced analytics into claims and underwriting workflow at an increasing pace. The industry’s adoption of generative AI will further accelerate this trend.
Interoperability of systems between primary carriers and reinsurers is necessary for sharing data, propagating insight and facilitating risk transfer. The Guidewire and Swiss Re collaboration aims to reduce the friction that insurance counterparties face by streamlining data access and predictive model deployment.
Russell Higginbotham, CEO of Swiss Re, comments: “We are excited to partner with Guidewire and respect their global expertise in building the technology and analytics that underpin today's property and casualty insurance business.
“By combining our data, models and tools with the Guidewire platform, together we will help strengthen the insurance industry’s ability to efficiently transfer risks and better service its clients.”
