Guidewire (NYSE: GWRE) announced that EY and Databricks’ new Ready for Guidewire validated accelerator is now available to Guidewire Cloud users in the Guidewire Marketplace.
The EY and Databricks Insurance Insights Platform (IIP) for Guidewire integration enables insurers to securely harness the power of Guidewire Cloud Platform (GWCP) data through the creation of a replicated data-model in the Databricks Data Intelligence Platform. The accelerator connects insurers to EY’s solution called Guidewire Replicated Database, which leverages Guidewire Cloud Data Access (CDA) and enables self-serve access to the data in near-real time, providing flexibility and expanded opportunities for analytical and reporting use cases. Insurers can enrich GWCP data with other internal and external data sources, enabling profound insights in their Databricks environment.
The integration gives insurers access to normalized data sets they can leverage for operational and regulatory reporting. It also shapes GWCP data to fit into the standard insurance data model for analysis and use in dashboards. Customers can configure data pipelines and share data across their organizations to enable artificial intelligence (AI) use cases in their Databricks Data Intelligence Platform.
Users can also use IIP itself for its robust reporting and analytics abilities, as it incorporates Databricks’ generative AI features to interpret and analyze data, helping insurers make nuanced, data-driven decisions. IIP offers a web-based portal to configure pipelines and data sets, along with numerous pre-built dashboards, reports, and analytical use cases.
“Our combined efforts with Guidewire and Databricks empower us to seamlessly incorporate cutting-edge technologies and data-driven strategies into Guidewire’s cloud platform,” said Alok Bhargava, Principal, Insurance AI & Data Leader, EY. “Through this partnership, we develop innovative and robust solutions tailored to address our clients’ varied needs, effectively navigating the ever-changing insurance landscape.”
“Databricks’ inclusion in the Guidewire Marketplace is a game-changer for the insurance industry. Our solution provides more flexibility and a better opportunity to utilize the data for building analytical use cases. Customers can continue to run their existing reports and downstream extracts without any change to the underlying data structure. This solution is expected to bring down the overall effort and cost, driven by efficiency gains from data extraction, data integration and data reconciliation,” said Marcela Granados, Global Head of Insurance, Databricks.
“Congratulations to EY and Databricks on the release of their new Guidewire Cloud accelerator,” said Will Murphy, Vice President, Global Technology Alliances, Guidewire. “This integration streamlines data consumption to help our shared customers easily access GWCP data for expanded data application and extract additional insights by blending GWCP data with other data sources.”
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