Property and casualty (P&C) insurance platform Guidewire has unveiled PricingCenter, a new application that aims to revolutionise insurance pricing and rating by increasing efficiency, improving accuracy, and speeding time to market.
By connecting pricing strategy to execution, it helps insurers stay agile, improve accuracy, and accelerate new product launches.
“With PricingCenter, market disruptions become opportunities to innovate,” said Mike Rosenbaum, Chief Executive Officer, Guidewire. “By unifying pricing and rating, P&C insurers can model, test, and deploy updates faster, enabling them to accelerate product innovation and confidently drive profitable growth.”
PricingCenter helps to accelerate profitable growth by unifying pricing and rating, eliminating silos, and providing end-to-end lifecycle management.
It empowers actuaries and pricing teams to quickly build, test, and deploy advanced models using a no-code interface with AI-assisted insights and flexible analytical tools.
The platform also supports sophisticated modelling, including GLM/GAM, ML, and proprietary optimisation algorithms, and offers seamless connectivity with Guidewire products.
“Insurers across the globe are seeking more agile, data-driven, and scalable pricing solutions,” said Dawid Kopczyk, Senior Director, Pricing and Rating, Guidewire. “With PricingCenter, we’ve delivered a unified application that empowers business users to deploy pricing changes with precision and speed, all within an intuitive interface.”
“Today with PricingCenter, I can confidently say we’re more agile and better positioned for the future,” said Waseem Vally, Chief Technology and Information Officer, Bryte Insurance Company LTD. “What used to take us months can now be delivered in weeks. Our teams have more time to focus on insights and strategy, rather than being bogged down in manual processes and pricing updates.”
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