Brings strong heritage of P&C insurance innovation and R&D focus to global InsurTech ecosystem
Foster City, CA (Jan. 18, 2018) – Guidewire Software, Inc., a provider of software products to Property and Casualty (P&C) insurers, today announced it has joined Plug and Play’s ecosystem to advance P&C insurance innovation and collaboration. Plug and Play is a global startup ecosystem and venture fund specializing in the development of ‘early to growth stage’ technology startups in 12 verticals. Guidewire joins as a Corporate Partner focused on the Insurance vertical.
Guidewire will engage with a select group of Plug and Play startups to provide executive mentoring, domain and technical expertise, and the potential opportunity to be showcased in Guidewire Marketplace™ as value add extensions to its InsurancePlatform.
“Insurers recognize the importance of innovation to their survival in today’s era of engagement. They strive to improve the experiences of their agents, employees, and most importantly their customers, and are embracing the importance of innovation now more than ever,” said Lerk-Ling Chang, vice president, Strategic Ventures and Innovation, Guidewire Software. “We are excited to extend our strong history of innovation – with our insurer customers, solution providers, and other start-ups – to our collaboration with Plug and Play, its startups, and its member companies, as we collectively work to provide the solutions the industry needs.”
“We have had the pleasure of hosting Guidewire customers at Plug and Play in Silicon Valley for a few years. Guidewire’s major R&D presence in Silicon Valley, and history of fostering innovation, make them an ideal addition to our ecosystem and we welcome them,” said Ali Safavi, Global Head of Plug and Play InsurTech. “We respect their global expertise and industry leading position, and are excited about collaborating with them for the benefit of the P&C insurance industry.”
“Guidewire is committed to providing an industry marketplace and we see our role as that of curator, bringing tech providers together to provide the best solution options for P&C insurers,” said Ali Kheirolomoom, chief product officer, Guidewire Software. “Our work with the Plug and Play team, its startups, and its member companies, will enable insurers to remain focused on their businesses while we take on more of the heavy lifting in bringing innovative ideas to reality. We are pleased to be building on our more than 15 years of P&C industry innovation as a supporting part of the Plug and Play ecosystem and are excited to share the results of our efforts with our customers and the industry.”
About Plug and Play
Plug and Play is a global innovation platform. We connect startups to corporations and invest in over 150 companies every year. Since inception in 2016, our programs have expanded worldwide to include a presence in 27 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 365 networking events per year. Companies in our community have raised over $6 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit http://plugandplaytechcenter.com/insurance/.
About Guidewire Software
Guidewire (NYSE: GWRE) delivers the software that Property and Casualty (P&C) insurers need to adapt and succeed in a time of rapid industry change. We combine three elements – core operations, data and analytics, and digital engagement – into a technology platform that enhances insurers’ ability to engage and empower their customers and employees. More than 300 P&C insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.
SOURCE: Guidewire SoftwareTags: Guidewire, partnership, Plug and Play, Property/Casualty (P&C) insurance