Guidewire Unveils End-to-End Usage-Based Insurance Solution
5.5.2021 15:55:00 EEST | Business Wire | Press release
Guidewire Software, Inc. (NYSE: GWRE), the platform P&C insurers trust to engage, innovate, and grow efficiently, today announced the availability of Guidewire’s Usage-Based Insurance Solution. Designed with speed in mind, the UBI Solution can be deployed within 12 weeks and supports the end-to-end insurance lifecycle including quote, billing, and automated claims intake.
Forrester Research projects usage-based insurance policies to grow 50 percent in 2021.1 “Increasing appetite for usage-based insurance (UBI) in personal auto will drive insurers to rethink how they help customers discover and use auto insurance,” wrote Jeffery Williams, senior analyst, Forrester Research in a recent blog post. “COVID-19 has ushered in a new paradigm where consumers are more conscious about price transparency. That will result in strong new business growth across the sector.”2
Available exclusively on Guidewire Cloud, Guidewire’s UBI solution accelerates deployment with a prebuilt package of capabilities, services, and integrations with Guidewire PartnerConnect Solution partners, Cambridge Mobile Telematics and TrueMotion for telematics.
"Personal lines insurers want to offer UBI as fast as possible to their customers, and with Guidewire they can in just a few months,” said Eugene Lee, senior vice president and general manager, Guidewire. “Guidewire’s UBI Solution was informed by our experience with multiple UBI-specific deployments, and unlike other offerings that focus only on product definition, the solution is designed to support the entire quote-to-claim lifecycle.”
One of those UBI deployments was at CAA Insurance Company, Canada’s largest not-for-profit automobile association. “As the pandemic continues, so do the financial hardships faced by many households," said Matthew Turack, president of CAA Insurance Company. “In response, we quickly launched a new MyPace product using Guidewire to help our customers who were working from home save on auto insurance costs. Our customers appreciated our responsiveness and sales have exceeded our expectations with a 300 percent year-over-year increase in new auto policy sales and 72 percent increase in new customers.” CAA has been an in-production InsuranceSuite customer since 2012.
Learn more about Guidewire UBI
To learn more about Guidewire’s UBI solution, read a recent blog post here, and please visit: http://www.guidewire.com/solutions/usage-based-insurance.
Read about CAA’s UBI offering in a Celent case study, “Building a First-to-Market Pay as you Drive Offering” and hear more about the initiative in an InsurTalk podcast interview with Laura Drabik, chief Evangelist, Guidewire, and Matthew Turack, president, CAA Insurance Company.
1 Forrester Research, Inc., Predictions 2021: Insurers Find Opportunity Amid Chaos, Jeffery Williams, October 30, 2020
2 Forrester blogs, Predictions 2021: Insurers Find Opportunity Amid Chaos, Jeffery Williams, October 30, 2020
About Guidewire
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 400 insurers, 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 1,000+ 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.
For more information, please visit www.guidewire.com and follow us on twitter: @Guidewire_PandC.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210505005404/en/
Contact information
Melissa Cobb, Senior Public Relations Manager
Guidewire Software
+1 650-357-5324
mcobb@guidewire.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Empire State Building Observation Deck to Debut ‘Olympus Awaits,’ An Immersive ‘Percy Jackson and the Olympians’ Takeover in the Heart of NYC, On Display from Nov. 16 – Dec. 4*13.11.2026 00:07:00 EET | Press release
The Empire State Building (ESB) is the gateway to Mount Olympus in Percy Jackson’s world, and now fans can experience the magic like never before. On Nov. 16, the Empire State Building Observation Deck (ESBOD) will unveil “Olympus Awaits,” a multi-level “Percy Jackson and the Olympians” takeover, in partnership with Disney+. The immersive takeover – included with every Observation Deck ticket – will feature an epic Throne Room, interactive photo opportunities, surprise giveaways, ESB x “Percy Jackson” merch, and more, available through Dec. 4, 2026.* This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261112442266/en/ Empire State Building Observation Deck to Debut ‘Olympus Awaits,’ An Immersive ‘Percy Jackson and the Olympians’ Takeover in the Heart of NYC, On Display from Nov. 16 – Dec. 4* “This immersive NYC experience brings Percy Jackson’s adventures off the screen and into the ‘World’s Most Famous Building,’ where guests ca
Clene Nanomedicine Partners with Veristat to Reduce Biostatistical Output Time by 80% for ALS New Drug Application12.11.2026 19:09:00 EET | Press release
VeristatTM, a global clinical research organization (CRO) and consultancy specializing in complex studies, announced that it has partnered with Clene Nanomedicine to cut the time to deliver biostatistical outputs for a pivotal ALS drug application submission by 80%. Veristat reduced the time from study data to validated tables, listings and figures (TLFs) from up to six weeks to just one week. Clene, a late-stage biotech company, leveraged Veristat’s recently launched InStat™ platform, the industry’s first zero-code, fully automated solution to accelerate clinical trial processes. Biostatistical TLFs sit on the critical path for submissions, yet most sponsors rely on antiquated processes that involve slow, manual workflows to produce them, making post-database lock one of the biggest bottlenecks to regulatory approval. To remove this barrier, Veristat uses its AI-enhanced platform to compress the timeline to submission-ready TLFs from weeks to days, with every output validated by stati
WHOOP Launches WHOOP Humans, the Most Verifiably Human Social Network12.11.2026 19:00:00 EET | Press release
WHOOP, the human performance brand, today launched WHOOP Humans, a new feature that lets members follow friends and family, share fitness, health, and performance data they choose, and support each other's progress. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261112176779/en/ WHOOP Launches WHOOP Humans, the Most Verifiably Human Social Network For more than a decade, WHOOP has helped members better understand their own health and performance. Now, WHOOP Humans extends that experience beyond the individual, making it easier to celebrate achievements, encourage progress, and look out for the people who matter most. "In a world that's becoming increasingly artificial, we're building something deeply human,” said Will Ahmed, Founder and CEO of WHOOP. “This is the most verifiably human network ever launched. Every account represents a real person with a verified heartbeat. They have real goals, challenges, and achievements. T
Integrated Hubs for Green Chemistry Research Aim to Transform How Chemicals and Materials Are Designed12.11.2026 18:00:00 EET | Press release
The Gordon and Betty Moore Foundation today announced four Integrated Research Hubs to explore new frontiers in chemical design, from materials that respond to their surroundings to molecules designed for safety from the start. Bringing together global researchers across institutions and disciplines, the hubs will investigate fundamental principles that could enable new capabilities in chemicals and materials while improving performance and protecting human health and the environment. The research priorities emerged through extensive engagement with the scientific community to identify the questions that could transform what chemistry can achieve. Each hub will connect researchers across institutions around one of four green chemistry focus areas: Safer molecular design: Led by The George Washington University, this hub will combine artificial intelligence and quantum chemistry to embed safety into chemical design from the outset. Adaptive catalytic systems: Led by the Max Planck Insti
Roquette Highlights Scalable Excipient and Capsule Solutions for Regional and Global Pharmaceutical Markets at CPHI India 202612.11.2026 17:00:00 EET | Press release
Roquette, a global leader in plant-based ingredients and a leading provider of pharmaceutical excipients, will showcase its comprehensive portfolio of excipient and capsule solutions at CPHI India 2026, Hall 1, Booth 1I12 from November 23 to 25, 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261112803410/en/ Meet Roquette at CPHI India 2026, Hall 1, Booth 1I12 At the event, Roquette will demonstrate how it helps pharmaceutical manufacturers accelerate the journey from formulation to market with confidence. By combining technical expertise, trusted quality, meaningful innovation and close collaboration, Roquette helps customers address formulation, scale-up and manufacturing challenges across a broad range of pharmaceutical applications. As India continues to play a critical role in supplying medicines to patients around the world, pharmaceutical manufacturers face increasing demands for quality, regulatory compliance,
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom