News and opinion

Guidewire Named ‘Risk Modeller of the Year’

News and opinion | Georgina | 13 July 2018

Software publisher Guidewire has been named ‘Risk modeller of the year’ at the recent Reactions London Market Re/insurance Awards 2018 ceremony for its Guidewire Cyence™ Risk Analytics (Cyence) product.

Guidewire, a long-time Partner of Endava, was recognised for its excellence in the London Market, and was acknowledged by the Reactions judging panel for advancing the insurance industry’s ability to quantify this evolving and complex risk.

Cyence is a cloud-native economic cyber risk modelling solution.  It enables insurers to manage portfolio exposure accumulations and develop new products with confidence and is built to help the insurance industry quantify cyber risk exposures; to prospect, underwrite, and price risks.

Yoshi Yamamoto, director, Cyence Risk Modelling, Guidewire said: “In the past, actuarial science has been used by insurers to project future risk. With 21st century risks, like cyber, reputation, and some business interruption, historical claims data may be limited or non-existent, and the challenge for insurers is to understand and quantify these risks.”

Yamamoto continues: “Cyence combs multiple data sources, curates, and refines the output into meaningful data, relevant to risk quantification and modelling. We are honoured that Reactions, and the judging panel for this prestigious award, have recognized the significant capabilities our Cyence Risk Analytics solution brings to the market.”

Guidewire is a provider of the industry platform general insurers rely upon to adapt and succeed in a time of accelerating change. Endava are Guidewire’s oldest implementation partner in Europe. In 2006, we implemented the first ever Guidewire ClaimCenter® system in Europe. Since then we have successfully engaged with clients from Los Angeles to Moscow to Japan to Europe and the UK.

Our Team is highly experienced in the Agile delivery methodology using an on-site delivery model and crucially, adhering to Guidewire’s best practices. The team works with both IT and the business to optimise claims and policy management processes to ensure successful project implementation and the realisation of expected benefits.

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