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Canal Insurance Company Drives Smart Claims Decisions with Guidewire Cloud-Based Predictive Analytics Solution

October 8, 2018

GREENVILLE, S.C. & FOSTER CITY, Calif.--(BUSINESS WIRE)--Oct 8, 2018--Canal Insurance Company, a commercial trucking and specialty transportation insurance provider, and Guidewire Software, Inc. (NYSE: GWRE), provider of the industry platform Property and Casualty (P&C) insurers rely upon, today announced that Canal plans to utilize Guidewire Predictive Analytics™ for Claims to complement Guidewire ClaimCenter™, the claims management system it has been using since 2004. The company is one of Guidewire’s earliest customers and plans to implement Predictive Analytics for Claims in early 2019 for its largest line of business – commercial auto liability. Canal also successfully deployed Guidewire BillingCenter™ in 2013.

Canal is combining ClaimCenter and Predictive Analytics for Claims to create a Smart Core™ system that will use advanced analytics to solve specific business problems and deliver actionable insights at the time key decisions are being made.

“Canal selected Guidewire Predictive Analytics for Claims as its solution based on the capabilities of the machine-learning engine, the ability to deliver real-time predictive insights into our claims workflow, and the expertise of Guidewire Professional Services,” said Christopher Greene, Senior Vice President, Chief Claims Officer & General Counsel, Canal. “Our analytics team can now gather claims data, build, and implement models seamlessly compared to the policy-side models we had built and used in the past. We also look forward to potentially improving our loss ratios by making sure that incoming claims are promptly assigned to the right resources as well as early detection of claims that might escalate into large losses.”

“We are pleased that Canal has embarked on its Smart Core journey by expanding its relationship with Guidewire and selecting Predictive Analytics to complement its longtime use of ClaimCenter,” said Steve Sherry, Chief Sales Officer, Guidewire Software. “We are humbled by Canal’s confidence in our technology and look forward to continuing our partnership in helping the company adapt and succeed in its mission of insuring transportation risks.”

About Canal Insurance Company

Canal Insurance Company is a third generation family owned and operated insurance company, specializing in commercial trucking since its inception, almost 80 years ago. Canal is recognized in the insurance industry as a stable, responsive and financially strong leader. Underwriting in forty-six (46) states, Canal is represented by a network of independent general agents across the country. Visit canalinsurance.com for other news and information.

About Guidewire Software

Guidewire delivers the industry platform that Property and Casualty (P&C) insurers rely upon to adapt and succeed in a time of accelerating change. We provide the software, services, and partner ecosystem to enable our customers to run, differentiate, and grow their business. We are privileged to serve more than 350 companies in 32 countries. For more information, please visit www.guidewire.com and follow us on twitter: @Guidewire_PandC.

NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181008005061/en/

CONTACT: Guidewire Software, Inc.

Diana Stott, +1-650-356-4941

Director, Communications

dstott@guidewire.com

or

Canal Insurance Company

Christopher Greene, 864-250-9254

Senior Vice President, Chief Claims Officer & General Counsel

Christopher.Greene@canal-ins.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA SOUTH CAROLINA

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT HARDWARE INTERNET NETWORKS SOFTWARE OTHER TECHNOLOGY TRANSPORT SECURITY TRUCKING MOBILE/WIRELESS AUTOMOTIVE PROFESSIONAL SERVICES INSURANCE GENERAL AUTOMOTIVE

SOURCE: Guidewire Software, Inc.

Copyright Business Wire 2018.

PUB: 10/08/2018 08:55 AM/DISC: 10/08/2018 08:55 AM

http://www.businesswire.com/news/home/20181008005061/en

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