Validus delivers Ready for Guidewire accelerator to help UK general insurers simplify the motor insurance claims process for all involved parties
NORWICH and LONDON, UK, 17 January, 2017 – Validus-IVC Ltd (“Validus”), a claims management and analysis services provider to motor insurers, and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to general insurers, today announced that Validus has joined Guidewire PartnerConnect™ as a Solution Partner. The companies also announced Validus’ participation in the Ready for Guidewire accelerator programme and that it is eligible to use the Ready for Guidewire validation mark. This mark indicates that the accelerator has been through an exacting review process to support its readiness for integration with Guidewire InsuranceSuite™ products.
Validus operates entirely within a niche area of third party motor claims. It is the only cloud-based portal currently that automates the analysis and settlement process relating to repair and mobility claims. The Validus verify™ Guidewire Accelerator enables claims that have been captured in Guidewire ClaimCenter® to be shared between involved parties, tracked and managed through the verify™ portal.
“We see Guidewire as a key partner for our business,” said Mike Srokowski, Chief Executive Officer, Validus. “For our mutual customers, there are clear synergies in the way our respective technology sets are able to engage with the motor insurance claims process and enhance the way it functions, efficiently and cost-effectively.”
The verify™ Guidewire Accelerator helps insurers by:
- Securely sharing claims data between involved parties;
- Automating the rules-based analysis and agreement process between parties; allowing the liable insurer to arrange payment seamlessly and efficiently; and
- Reducing significantly the need for phone calls, letters and emails.
“We are pleased to welcome Validus to the Guidewire PartnerConnect Solution program,” said Becky Mattick, director, Global Solution Alliances, Guidewire Software. “We look forward to deepening our relationship with them in helping our customers achieve end-to-end process efficiency and improve the levels of service they are able to offer their policyholders.”
Validus-IVC Ltd was established in May 2007 to provide claims management and analysis services to the UK motor insurance industry. Since then the business has evolved significantly, with verify™ software technology now providing the platform through which a sizeable volume of third-party motor repair and hire claims are settled annually in the UK and overseas. This cloud-based portal solution helps to streamline the subrogated claims process through the application of rules-based workflow management and data analytics, which provide users on both sides with the visibility they need to support their respective claims management strategies.
Seamless integration of our product functionality with Guidewire ClaimCenter has enabled us to significantly strengthen our ability to deliver end-to-end process efficiency for our customers, which not only provides the benefit of quicker and simpler implementation programmes, but also removes a significant amount of operational expense throughout the claims management process. For more information, visit us at www.validus-ivc.co.uk.
About Guidewire PartnerConnect and Ready for Guidewire
Guidewire PartnerConnectTM is a global network of select partner companies that provide consulting services and solutions to enhance, extend, and complement the capabilities of Guidewire products. Our worldwide partner community helps contribute to the success of our mutual customers in the general insurance industry by delivering Guidewire software implementations, value-add solution and technology offerings, and guidance on insurance industry best practices.
Ready for Guidewire accelerators developed by PartnerConnect Solution members have been rigorously reviewed by Guidewire, adhere to Guidewire software design principles, and meet established criteria. The accelerators are published on Guidewire Marketplace and are available for download by Guidewire customers at no charge.
Guidewire PartnerConnect is an invitation-only program. For more information about Guidewire PartnerConnect please visit www.guidewire.com/partners/.
About Guidewire Software
Guidewire delivers the software that general insurers need to adapt and succeed in a time of rapid industry change. We combine three elements – core processing, data and analytics, and digital engagement – into a technology platform that enhances insurers’ ability to engage and empower their customers and employees. More than 260 general insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.
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