The awards honor Guidewire customers that are adapting to an accelerating pace of industry change and evolving customer needs in innovative ways. The winners were announced during Connections, Guidewire’s annual customer conference. The platform is trusted by over 570 insurers in 42 countries, with products leveraging data and analytics, digital, and artificial intelligence.
Key takeaways:
- The 2024 Innovation Award winners by Guidewire are Alberta Motor Association, Ascot Group, and Mountain West Farm Bureau.
- Alberta Motor Association was recognized for launching Alberta’s first pay-as-you-go insurance product, AMA MyPace, which helped customers save up to 55% on auto policy premiums.
- Ascot Group developed an AI-assisted underwriting system for cyber insurance, reducing the time spent gathering and pulling data per submission by 85.7%.
- Mountain West Farm Bureau implemented Guidewire Data Platform to provide actionable insights, enhancing decision-making and operational efficiency, and increasing its straight-through processing from 50% to 86% for high-volume personal lines.