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Member, Beacon International Group, Ltd.
Insurance technology providers Guidewire Software Inc. and Mitchell International Inc. have announced a strategic alliance to integrate their technologies to optimize claims management services.
The companies on Tuesday said they have been working for a year to tightly integrate their respective technologies. Foster City, Calif.-based Guidewire produces core claims management systems, while San Diego-based Mitchell makes software used to assess automotive physical damage, bodily injury and workers’ compensation claims, the companies said in a joint statement.
“Guidewire and Mitchell see an opportunity to advance the state of the art in claims management, to the clear benefit of both our insurer customers and their policyholders,” Guidewire CEO Marcus Ryu said in a statement. “Our development teams are collaborating to optimize the user experience and leverage the data exchange between our respective products.”
A unified system will streamline the claims workflow for more accurate, consistent, and cost-effective claims management, the companies said.
“Our mutual customers have expressed their wish for deeper integrations between our products and this relationship is the beginning of our commitment to them,” Mitchell President and CEO Alex Sun said in the statement.
Donald Light, director of the Americas property/casualty practice for Boston-based insurance advisory firm Celent, said the alliance is noteworthy considering the companies’ emphasis on data management, business intelligence and analytics.
“A deeper integration of Guidewire’s ClaimCenter with Mitchell’s suite of estimation and cost control solutions has the potential to deliver significant value to insurers,” Mr. Light said in the statement.